Affiliate Commissions for Freelancers and Social Media Managers
Are you a freelancer, social media marketer or perhaps a virtual assistant who would like to have an additional revenue stream coming into your business? affiliate marketing can do that for you.
Make sure to stay to the end of this video because I have a special offer for you. Also, if you’re looking to grow your business as a virtual assistant or social media marketer or freelancer, please subscribe to Six Figure Business Coaching youtube channel.
Hi, I’m Kristin Graham with six figure business coaching. Today we’re going to talk about affiliate marketing.
Exactly what is affiliate marketing and how you can take advantage of it to earn additional income and often residual income into your business. I know so often we hear the concept of having multiple streams of income. And that’s one of the reasons I absolutely love affiliate marketing.
So what is affiliate marketing? affiliate marketing is where you earn a commission for selling a product or service for someone else. It’s done by using something called an affiliate link. So when you sign up within a company that you want to represent, thank you. Your unique link specifically for you, that lets them know that you sent that customer to them. And as a result, you earn a commission. So it’s as simple as signing up with a company and getting your affiliate link and then sharing that link with other people.
Now a couple of things you need to know.
First of all, some affiliate Commission’s are a one time fee.
So for example, siteground, which is a hosting company, they pay a flat fee of $50. When someone signs up through your affiliate link, others are residual, which are the ones we really get excited about. Because when someone signs up using your link, you earn a commission month after month after month, as long as they continue to use the service.
Now, so there’s different commission structures. There’s also different times that the affiliate link is good for and what I mean by that is, some companies say if someone buys with your affiliate link within 30 days, they pay your commission. Others are it within 60 days and some 90 days. So
when you’re thinking about what companies you want to represent, as an affiliate marketer, you want to make sure to look at those things. What are they paying me? And how many days is that contract to my affiliate link? Because basically what it does it tracks to you.
So for example, if someone bought a software that you recommended on day 35, but they don’t pay you after 30 days, obviously, you’re not willing to pay that commission. So ultimately, the longer the time period is, the better off you are. So a 60 or 90-day time frame could be a lot better for you to earn additional commissions because sometimes people look at something like a software or product or service several times before they actually buy it.
Another thing that’s really interesting about affiliate marketing is there are people out there that do affiliate marketing full time, that’s their entire source of income. But for most of us, affiliate marketing is just an additional income. And I’m going to go over some numbers with you and tell you a little bit about what we do and what a lot of our clients answer doing to take advantage of an additional income stream if you’re excited about earning affiliate commission’s please give me a. Here’s out in the comment below or if you’re earning affiliate commissions already please let us know what companies you like best in the comments below.
So as a virtual assistant of social media marketer or freelancer, some of you may be doing email marketing for your clients in email marketing software pays really good as far as affiliate commissions go.
So MailChimp pays constant contact pays and ConvertKit pays. I want to talk to you about one of our clients who manage social media for her clients and she also does email marketing. When I spoke with her last she was doing 38 clients so she had 38 clients that she was handling their email marketing for and she had referred all of them to ConvertKit now ConvertKit pays a 30% commission renewing commission’s is paid every month, month after month.
So I want to go over some numbers with you what that looks like for her. So first of all, most email marketing software offers a free service until you get over a certain number of contacts that you’re emailing out to. And that’ll make more sense to you when I go over these numbers with you. So if you turn someone on to a free service without using it for free until they build up their database, you will not earn a commission on those people until they actually go to a paid version.
So this is an example of what her monthly income looks like. She has 38 clients that she’s handling their email marketing, they’re all on ConvertKit. But 36 of them are on paid plans. So two of them are still building up their database. And so they’re not paying for ConvertKit just yet. So ConvertKit pays 30%. And most of them are on a plan that costs $29 a month. So 30% of $29 is $8 and 70 cents. Well, you may be thinking $8 and 70 cents a big deal. That’s not a lot of money. But if you multiply that times 36 users, that’s $315 and 20 cents a month again $315 That’s your car payment. But if you look at it over the course of a year, that’s $3,758 and 40 cents.
So as you can see, it really adds up the her commission is actually more than that, because she has a couple of her clients that have built their database and they’re paying more for ConvertKit.
Most email marketing software is on a sliding scale based on the number of users. So as you help your clients build their database, build the number of people that they’re emailing each month, the cost of their software will go up, which means your affiliate commission will go up.
The next thing I want to talk about is for you social media managers that are handling your clients landing pages, you’re helping them build out sales funnels, often things like lead pages Click Funnels, they also pay affiliate commissions. And the example I want to use right now is Click Funnels, which is a software that we actually use, Click Funnels cost $97 a month and they pay a 40% Commission, not bad. So $97 times 40% is $38 and Ad sets again, doesn’t seem like a lot of money. But if you refer 10 people to Click Funnels, you will be earning $388 a month just off 10 users. If you multiply that times 12, it’s $4,656 a year, you can fund your IRA with that.
So we’ve been using Click Funnels for, I want to say four or five years now. So when you think about that, we signed up through an affiliate link. And so the person who signed us up for Click Funnels or very grateful that they did because we love the software is earning a commission. There was a time we were not on the $97 plan, but we were on the 297 plan because we were doing more things through Click Funnels, so for a while there, they were earning 40% of $297.
As you can see, the money for affiliate marketing can add up very quickly. So if you signed up clients on different software, say some were on clickfunnels and somewhere on ConvertKit, even Fiverr has an affiliate program, maybe referring people out to use some services on Fiverr. You can earn affiliate commission, they As you can see, it wouldn’t take long before you had a very solid additional income stream coming in.
So what I advise you to do is one, most importantly, never, ever, ever refer a software or product or service that you don’t believe in, because it’s a great way to ruin your reputation. So we always recommend companies that we’ve used we like and we respect because we don’t want to recommend things that we do not think are amazing.
The second thing you want to do is you want to make sure you’re always disclosing that it’s an affiliate link. I think by law, you have to do that. But anyway, it’s good practice, it’s good practice to make sure you let people know that you are earning a commission for referring them.
Most people don’t mind. The bottom line is if you’re giving them a recommendation to a great product or great service, they don’t really care that you earn a little bit of money. In fact, we’ll link our affiliate links to Click Funnels and to ConvertKit below and we’ll also show you our affiliate disclaimer.
So you can take a look at that in the description below. There’s some Amazing companies out there that offer affiliate commission. It’s really just a matter of you doing your research and determining what things you’re using or that your clients could use that could truly be beneficial to them, and then take the time to sign up for the affiliate link.
Okay, so I told you the beginning that we’d have a special offer for you if you stay till the end of the video. If you’re really looking to start or build your business as a virtual assistant, social media manager or freelancer, there will be a link below to book a call with us. We’d love to find out if there’s a way that we could help you grow your business.
If you liked this video, please give it a thumbs up, make sure to subscribe and ring the bell. Also, don’t forget to check the description below for all the extra goodies we have for you. And if you want to sign up for the affiliate programs we’re talking about or learn more, there’s information below.
So until I see you in the next video, dream big!