Entrepreneurs – How to Create an Affiliate Program that’s Generous
I like to describe affiliate programs as a complete circle of giving and receiving. It’s a win-win situation, providing a way for the individual and the entrepreneur business owner to exchange connections and sales! Affiliates receive a commission for their promotion and entrepreneur business owners gain leads and/or sales that otherwise might not have.
Most of us could use a little extra cash right now – especially during the holidays. By becoming an affiliate you can earn a passive income just by doing what you do naturally – sharing what you know and love with those you know. Women make great affiliates because we’re loyal customers who love to share what’s working for us.
But, how do you manage the other side of the affiliate partnership? How can you put together a strong affiliate program? I think this is something many women entrepreneurs need to do as a way to reach a much larger audience. So I want to share some tips on building an effective affiliate program for your products and services.
It starts with a generous mindset.
When I first launched Metromom, I was paying a 10% affiliate fee. Then I thought, “If I say that I care about my affiliates and need their support to help me spread the word about Metromom, who’s going to do that for 10%? Why would they waste their time?”
Then I decided to adjust it to 50% and after making that decision everything shifted for me internally. The first question my husband asked me was, “How can you afford to pay them 50%? That’s so much.” I said, “You’re looking at it from the wrong perspective. I wouldn’t have even known about Mary if Susie hadn’t sent Mary to me. So I’m thrilled to pay Susie a generous percentage because she just brought somebody new into my life who I never knew about.”
As an entrepreneur, it’s all about your mindset and how you look at the affiliate. When you really look at them with this great appreciation, you think, “Thank you so much for expanding the network of people in my world who are learning about my products.” You feel that gratitude as you sit down write them their checks or send them a PayPal payment.
When you feel generous and appreciative this shifts the entire way you promote your affiliate program. When I review my old emails when I was paying 10%, my emails didn’t have a good energy. When I shifted it to 50%, the voice with which I wrote changed. All of a sudden I thought, “Wow! I can’t wait for you to promote this product. I’m going to pay you 50% on this product.” That’s a lot of money. Honestly, it was so much fun for me to write affiliate emails.
Now I’m not saying 50% is the magic number, but I am suggesting that you choose a percentage – or even a flat fee – that feels good and generous to you. This will really enhance your ability to communicate with passion. And as an entrepreneur, you will see your circle of giving and receiving grow.
FYI – If you’d like to set-up your own affiliate program and you want ALL the steps check out the upcoming Get It Done Challenge at www.TheGetItDoneChallenge.com.
Tags: create an affiliate program, entrepreneurs, promote your affiliate program
