Yesterday I attended an Affiliate Marketing Masterclass with Liam James Kay. Liam started affiliate marketing a little over 12 months ago with no experience, no mailing list and no money. With hard work, determination and by applying the tips below, he was able to go from zero to earning over $198,000. The training was packed with value as expected and some serious golden nuggets.
So, I wanted to share with you the three main takeaways from the training to help you with your own affiliate marketing efforts. If you’re brand new to affiliate marketing I would recommend checking out my post Affiliate Marketing Beginner to Pro.
1. Promote membership based products
OK so it’s pretty easy to find affiliate products and programmes to promote but why isn’t everyone making bank? Well, most people when they start affiliate marketing try promoting random products they find on ClickBank or JVZoo but the key behind growing your passive income exponentially without doing any extra work is to find and promote MEMBERSHIP PROGRAMMES rather than single purchase products.
Example. You promote a juicer to people interested in health and fitness. They purchase for $120. You get a single 40% commission payment of $48. Not bad but in order to make any more money you have to repeat that process again. Using time and potentially money.
Instead, if you sold them a monthly subscription to a juicing recipe website (yes they do exist!) for $30, you would get a commission of $12 at 40%. But this is a recurring commission. So you also get paid $12 the following month for doing absolutely nothing. And the next month and the next month etc. So although the initial commission may be lower, though not always, it provides much greater long term value. So every time you generate a new sale, you are growing your income without doing any more work than required to get the first sale.
That’s not the real secret though. Rather than just getting that $12 per month in passive income. Let’s say the website pays commissions on 2 levels. So, the person that purchased the membership from you can go ahead and promote it as well and if they make a sale, you will also get a commission from their sale. Let’s say that’s 10%. So you would get an extra $4.80 per month. Without lifting a finger. If the same person happened to make 10 sales, you would be getting an extra $48 for doing absolutely diddly squat.
This is called 2-Tier affiliate and they are KING! There’s not a huge amount of these programmes out there so when you come across one you should hit it hard.
Now let’s look a real example to show you the potential here. Builderall which is an online marketing platform offers such a programme. They pay 100% commission on initial sales with 30% recurring on 2-tiers. The platform costs $49. So if you just made 1 sale per month, very conservative! And the 12 people that joined also brought in 12 people each, not only would you make $600 from the initial sales but you would have built up a monthly income of $2335! 😲
Now that’s what I call passive income!!
🎬 ACTION: Click here and go to the earnings calculator near the bottom of the page and play around with the numbers to see the power of a 2-tier affiliate system.
2. Offer better bonuses!
So how did Liam, an average guy starting from nothing, with no particular expertise or experience in marketing, (his words not mine!), manage to beat the competition and become a top affiliate and bring in 6 figures? The answer really isn’t surprising when you think about it.
You offer bonuses. Better bonuses than everyone else. What do I mean by bonuses exactly? Well, it could be a separate instruction video series to help make use of the course they are buying, an eBook expanding on a particular subject of the course, access to a private Facebook group for support, free coaching via email or Skype. You get the idea. It just has to be congruent with the product they are interested in.
When people become aware of a product/programme and become interested in it, they will often start seeing similar opportunities on their social feeds and by manually looking around on Google for example. At this point, they are likely to come across other people promoting the same programme they are considering joining and when they see you are offering a whole host of extra bonuses for signing up with them, don’t you think they are likely to join with you instead of the person that originally put it in front of them?
Hint. The answer is YES!
🎬 ACTION: Google affiliate programmes and take a look at the registration page of a few of them. How many are offering bonuses? Likely quite a few. Why? Because they know it works.
3. Force engagement on social media
You’ve seen it before. Post after post of people promoting the same thing and absolutely ZERO engagement. What are people doing wrong?
OK, so first things first. DO NOT post your link. Just don’t. It might seem counter-intuitive not to provide people with the link that’s potentially going to make you money but by doing so you are actually harming your potential to make money.
You see, in order to really get results from posting in groups etc you need your posts to go semi-viral, which means ENGAGEMENT! You need people to like, comment and share your post in order for Facebook to consider showing it to more people. How do you do that? Simple!
Ask them! Seriously, it’s that simple. Just by asking people to comment on your post, you can massively increase the engagement on it and people are incentivised to do so because you’ve withheld the link to the content that they are interested in. So you could tell them that you only want serious people involved and you want to know they are serious by having them commenting below. Then you will send them the link.
Here’s an example of a bad post vs a good post. Which would you be more likely to engage with?
🎬 ACTION: Try using the method above on your next post and see if it makes a difference. I think you’ll be pleasantly surprised.
Other Value Bombs
One of the questions many people would ask is how do you find good affiliate programmes? Well, Liam covered this in the training as well and revealed an absolute blinder of a tip for finding programmes that aren’t usually advertised on the major affiliate sharing platforms such as ClickBank.
Stop skipping YouTube ads! If you have an adblocker enabled on YouTube turn it off and instead use them as a research tool to find lesser known affiliate programmes that could give you an edge over the competition.
I’ve already tried this since the training and found a couple of software affiliate programmed that I would never have come across otherwise. Amazing. 😎
Alright guys there you have it. A quick summary of some of the things covered by Liam on the training. Really though this doesn’t do it justice. I would highly recommend that you catch the replay whilst it’s still available if you want to hear everything covered.
It will be taken down soon so head over there now and give it a watch a.s.a.p. Click here to view.