What you should know about referral programs vs affiliate programs is this! Are you large or small fry? Starting, you may want to test your referral programs & partnerships before registering as an affiliate. There are expectations, and minimal deadlines may be placed upon you, if you are an active affiliate. You’ll be trying hard to please all the merchants, and you may be under too much pressure to write high quality content, about-many topics, competing with the big guys (who spend on advertising)
Stick with what you know, and write related articles. Ensure you have the best design for your niche. Analyse how many conversions you’re able to get in one month, and repeat what you need to ensure the conversions consistent. Were the conversions from social media, type in or search engine traffic?
If you decide to become an affiliate, rather than referring people, or partnering up, it is essential that you have a fast loading website, a modern design, a lead capture or squeeze, and a way people can follow you from multiple streams (social media). Personal branding, and reputation management are top of the list for affiliate marketers. Affiliates who hound their friends and family with not succeed. Know the difference between sharing a beneficial deal between you, and spamming your loved ones.
Referral Programs/Refer A Friend
You can refer friends & family to referral programs, and enjoy discount, payout, or both. The client you recommend will also receive an incentive, discount, or free trial. It’s a win win deal. Here are some referral programs you may wish to try…
- Three
- Lyca Mobile
- Fast Hosts
- Hostinger
- Hello Fresh
- Ubereats
- Just Eat
- Top Cashback
- Zabble
- Travel Go
Affiliate Programs – Affiliates/Influencers
Affiliate programs, and in particular affiliate platforms are duty bound to take IRS/TAX and other official information from you. And you will usually need to have a large amount of traffic, or have a huge social following in order to be a successful affiliate. Or, you may need to have incredible SEO skills, you’re not an online influencer.
Whichever way you look at it, you stand to make money from affiliate programs, that can be anything from 5% to 70% and depending on which types of merchants, and how much web traffic you get, and how many people follow you, this will all affect potential earnings.
You will usually set up a company. Though you can operate as a sole trader. A company will normally be insured, and not be liable if they make any serious error, or disruption to another persons business. The same can be said of customers. And you must adhere to advertising laws & regulations.
Partnerships – Website Owners
Sometimes word of mouth, or referring your clients to additional services can become a lucrative long-term partnership. The company involved may offer certain perks, or may in return offer some client interest back to you.
For people with some sales & marketing experience, I recommend a partnership as a first step to a long and lasting affiliate future. You may want to venture into affiliate marketing once you have made enough capital to do so.
Summary
Without formal or expert training, it will be difficult to make a successful living from affiliate marketing. Some people do find they get lucky, but it really is a gamble when you are spending time & money, competing with the big fish, it is highly unlikely you will become an instant hit. Those determined to make it will need to be open to further learning, and follow the experts, webinars, get business advise, and more. Making it on your own in the affiliate world is hard, and having a team can also really help. Taking on too much too soon can not only be stressful for yourself, but also those around you. And you will need to keep yourself afloat in the meantime. Referring people can earn you a bit of extra income, which you may not need to declare if it us under the limit. Or you may have to declare it to certain agencies, but not the tax man. So, think carefully about affiliating, and be realistic.
