Episode 004: Building Passive Income Streams with Affiliate Marketing

Trading time for money is an easy exchange. But have you ever thought about putting in the work first to reap the benefits later? In this episode, we talk about affiliate marketing from a freelancer’s perspective! Affiliate marketing is when you promote a company’s service or product and you get a commission every time you inspire someone to take a specific action. While affiliate marketing streams can be “passive,” they also require a lot of work to set up – and then work along the way to maintain! But the main appeal to affiliate marketing is it’s one way that you aren’t exchanging time for money.

Listen to Episode 004, Building Affiliate Marketing Streams for Freelancers

Listen on: iTunes / Spotify / Stitcher / Google Podcasts

Key Takeaways

What’s affiliate marketing?

  • Affiliate marketing is when you promote a company’s service or product, and every time you inspire a purchase, you receive some form of compensation as a commission.
  • Affiliate marketing streams can be passive, but they require a lot of work to set up.
  • You do have to disclose when you are sharing an affiliate link. There are laws about this AND it promotes an educated and informed marketplace 🙂
  • Use your authority in your industry to recommend helpful resources to your audience whilst also receiving kickback from companies.

Is affiliate marketing selling out?

  • No – because for affiliate marketing, you should promote products you are already using and you BELIEVE IN!
  • Without trying, Fran sold her Matador backpack to someone just by being a superfan of its features. Affiliate marketing is not selling out, it’s being a proud purchaser of a product and receiving a bonus.
  • If you don’t take advantage of it in that way, you’re leaving money on the table.
  • The price is the same for the consumer either way! Sometimes, you can even offer a special discount as an affiliate for a program.
  • Really a mindset thing because affiliate marketing takes time.
    • You can either think oh, I only made $0.44 for my first commission. Or, you can see the potential and start figuring out how to convert recommendations to sales and maximize your commissions!

Action Steps

  • Research + figure out what your clients need! What are the pain points in your industry?
  • How can a product, software or service solve their needs?
  • Which of these products/services have affiliate programs?
  • Apply to those programs.
  • Once you get approved, you can start implementing them.
  • Remember to disclose when you are sharing an affiliate link.

How can I implement affiliate marketing in my freelance biz?

  • Personally promote products you believe in to your clients.
  • Write a tutorial post if you have a blog.
  • Write a post explaining why the investment in the product is worth it.
  • Create a resources page on your website.
  • Write an automated email course where you teach your clients something.

How to go above and beyond with affiliate marketing!

  • Understand your clients’ problems and think about how you can help them progress.
  • Track where your affiliate sales are coming from.
  • Start with the first sale, figure out what was successful about the first sale, and use that to make a second sale.
  • Optimize each post with your fresh keywords and promote them on different platforms!
  • Analyze post performance + double down on what works.

Show Notes and References

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