How to Create An Affiliate Program For Your Business
Earning income can come from many sources. The best ones are the streams that you don’t have to continuously work for. When I started by business, my goal was to earn as much passive income as I possibly could. I’ve invested in many resources to help me achieve this goal and now I want to share one of those amazing resources with you.
This post contains affiliate links which means if you purchase or sign up for any resource through any links provided, I'll earn a small commission. Don't worry, I will never recommend anything that I don't use or anything that isn't beneficial to you.
Creating an affiliate program is great for any business owner who has an engaged following and tribe online. It’s great for products that get a lot of rave and referrals. If you aren’t familiar with affiliate programs, they are systems that allow other people to enjoy benefits of promoting your products or services for an agreed fee. It’s win-win for all parties involved! In simplest form, when a company has a product or service available for its customers, it creates a program that invites others to promote the product or service for a small commission of each sale or sign up (normally for subscriptions/programs).
An affiliate program is pretty simple to set up and follow as long as there are rules set in place and a process that makes the program seamless!
Before I get to the “how to” of an affiliate program setup, I want to make sure you understand some foundational work that needs to happen before you reach this step:
You must have a digital product/service file
If you’re a creative online business owner, you should have a few to several income streams in place. If you do not have several income streams in place, read why you should here. Of those income streams, you have to have a digital product such as an ebook, workbook, guide, or template. Or, if you have a service, create a single procedure sheet or worksheet file that your client could download. Any digital product that is an instant downloadable file for your customers is needed for the resource you’re learning about today.
Create promotion restrictions
Another thing you need is to have in place are policies or restriction rules. This will determine what affiliates can and can’t do with your product or service when promoting it. For example, direct selling online or email spamming are common prohibitions with affiliate programs. You don’t want others to abuse people online via social media, emails, or any other place trying to promote your product/service. Your brand will immediately get a bad reputation if someone abuses their marketing opportunity by harassing others.
Establish your commission rate
You also need to know how much your commission will be for each sale. This rate may determine the amount of signups you can expect. Ask yourself: Would I sign up for this affiliate program? Is it worth it?
Your affiliate program needs to attract quality leads just like any other area of business. The larger the commission, the more likely others will be encouraged to sign up for your program.
Determine your screening process
You also need to determine if you will screen signees. This is completely optional. This is in relation to how you attract and attain quality leads. You can ask them how they plan to market your product/service. You can ask them what they do for a living and how large their audience is, etc. Some affiliate programs screen signees and some don’t to determine if they’re program is a great fit. It’s totally up to you!
Establish a payout system
An additional task to do is to determine how often you will payout your affiliates for the sales they make. Most affiliate programs are set to 30 day payouts. This is perfect because you don’t know if anyone will ask for a refund. Most digital products don’t have the refund option available, but it’s definitely something to consider.
Now that we have the foundational to-do’s out the way, let’s get to this amazing resource. There are several tools that allow you to create affiliate programs, but I’ve found the easiest resource for this purpose: SendOwl.
I found SendOwl while reading a mommy blog one day. I signed up for an affiliate program with that blog to see how things worked. Shortly after, I signed up as a customer to create my own affiliate program. While I haven’t released my affiliate programs to the public just yet, when I do, I’ll be able to market it to earn passively to reach my business goals.
On to the steps:
Sign up with SendOwl:
There is a 30-day free trial to help you get acquainted with the program and determine if it’s a good fit for you. I suggest waiting until you’re 150% sure you will promote this program full-force. This will allow you to see the benefits of all the perks right away!
Add your product/service file. Remember, if you have a service, simply create a document with the procedures of the client’s next steps. It could be a fillable PDF to help you learn more about them including instructions to email you after completion to receive services. You’ll still get paid for the service, and your affiliate with receive proper credit.
After you have your product/service file upload, go to Settings. Choose Affiliate Program: Configuration.
Enter your affiliate program name and email. Then, choose Show All Options.
These options will allow you to determine how visitor and signee information will be saved and how long the delay would be for each payout. As you can see, a month or 30 days is ideal. Be sure to set your terms & conditions before you finalize and promote your program.
Once you’ve completed all the fields, choose Hide All Options to continue set up.
Your site links are the website links that SendOwl will keep track of. Make sure these are correct at all times! If you make any page or website updates, don’t forget to change this link.
You can also set your commission rate by clicking the link provided:
You’ll invite all affiliate signees to your program with this link. As you see, you can manually add people to your program as well. Manual adds are great to use for offline business events such as networking events, in-person classes, seminars, etc.
You’re all done! Easy, right?
If you have a product or service you want others to promote for you to gain easy sales, sign up for SendOwl now!
Creating an affiliate program for your best product/service is a great way to earn passive income. There are several ways to earn online as a creative. I teach several ways to earn online, in addition to what you learned today, in my passive income course, Passion to Passive. This course is designed to take you through 10 stages to successfully earn passive income for your business. There are 100 niche product ideas included in the course to help you create items to earn passive income!
As business owners, we must successfully position our brand to consistently earn multiple income streams that will allow us to grow at a rate unimaginable. The money is out there to be made. We need to find and create money paths so that earning and making a difference is possible each time a payment notification comes through. Enroll in Passion to Passive for lifetime access with all updates and additions as well as a ton of resources to help you start earning today.
Have you determined money paths for your business? Does your business have an income strategy in place? Share your definition of what money paths looks like for your business. This could be your best products and services. Yes, market them below! ;)