You’ve heard me mention that a vital part of your DIAL is “Income”. Depending on your situation you may need supplementary income, or a more robust stream. In our day and age, unorthodox ways to earn income are no longer unorthodox. Affiliate Marketing is an excellent example, so let’s spend a few minutes looking closer at that.
Affiliate marketing can best be described as being paid a commission when you promote and sell someone else’s product. The best part is that most anyone can setup an affiliate account. With many major retailers offering an affiliate plan, your options are very flexible. Affiliate programs can either be found at the bottom of a retailer’s website or you can also do a web search such as “Walmart affiliate program”.
Probably the most popular affiliate program is Amazon’s which offers you the ability to earn up to 10% commission when a product is bought due to your promoting efforts. Best of all, when you recommend a product and earn a commission, the price of the product is never affected. You could recommend buying a GoPro for $300 and if someone buys that GoPro through your Amazon affiliate link, you’d earn 4% or $12. The person who bought it paid $300 so they weren’t penalized by going through your link.
I’m going to run you through another idea in more detail so you can see more about how this works:
1. Have an interest.
I like tools and hardware items, so I am going focus on retailers that appeal to DIYers. Since the retailers in this market such as The Home Depot, Lowes and Ace Hardware all sell similar products, I am going to narrow my focus to product reviews and brand comparisons.
2. Have a place to promote the interest or topic.
I’ll need a website, Facebook Group or YouTube channel focusing on DIY topics. Setting up a simple website is easy these days. Companies like Wix will allow you to setup a site in minutes or you can go on Fiverr and hire someone to do it for you. It’s free to setup a Facebook group and a YouTube channel.
3. Line up affiliate programs.
Since I’m dealing with tool reviews and comparisons, I’ll be using Home Depot, Lowe’s and Ace Hardware’s affiliate programs. See the below links for info on these programs
4. Get started.
With a website setup I can start doing product/tool reviews and attach affiliate links in my articles and blogs. I’ll use a Facebook group and YouTube to build an audience and share ideas. For example, if I do a video on a $150 air compressor and people purchase the product through my affiliate link located below the video, I will earn a commission. Now let’s say that 10 people bought the air compressor at a 4% commission (.04 x 150 = $6 x 10 = $60), you’d make $60 from that video. Since the video will always be on my website, Facebook or YouTube channel someone could buy the product 3 years from now, and the commission would still work the same.
5. Stay with it.
Over time, if I keep up with articles and videos and keep people interested in the Facebook group, I will build an income stream. Along the way as your YouTube channel grows, you’ll also have a chance to monetize your channel and be able to earn money from ads being run.
This is not a get rich quick scheme and does take time and effort. That is why I started with “have an interest“. I am not very interested in crocheting the perfect quilt (I know you don’t crochet a quilt) so if I chose that topic it would not be long before I lost interest, and followers.
Everyday we’re surrounded by affiliate programs and you may not even know it. All of the travel sites like TripAdvisor, Expedia, Orbitz, etc. are all affiliate sites. They make a commission when they sell you a rental car reservation, hotel room or flight. Do you have a favorite YouTuber who makes or builds things, then offers up a link below to buy the items they used? Yep. That is an affiliate link.
Want to fast track your early retirement? Affiliate marketing might be your ticket. Do more research and set yourself up with another income stream.
And oh, by the way, don’t give me that shit that you’re too old to learn this. I’m 51 years old and I just learned all about it the last three years. If I can gain the knowledge, you can too.
Live free my friends,