How To Earn Top Affiliate Commissions – 13 Ways To Give Yourself A Raise
When it comes to affiliate marketing we’ve all heard the stories of how people are earning top affiliate commissions and generating HUGE money.
And then those who don’t make any real significant money and still others that don’t make a dime.
The truth is affiliate marketing is tough. In fact 95% of people that try affiliate marketing don’t make any real life changing money.
But that’s no reason to be discouraged, there are a lot of factors that go into that group of 95%.
The person’s work ethic. Are they willing to do what it takes to become a successful affiliate marketer? Do they have the proper up to date training?
Do they have support? Do they have mentors? Are they still chasing those push button make money online scam programs?
Not having or doing any one of these things can prevent you from building a thriving online affiliate marketing business.
And what about the other 5%?
This is the percentage of the affiliate population that is making a fulltime online income. I’m in this percentile, I’ve been making a fulltime income as an affiliate as of 2005.
But like all affiliate marketers I started at zero. Then I made my first commission check and it just grew from there.
And over time I was taught how to increase my affiliate income, give myself a raise if you will. So today I want to share with you 13 ways how you can boost your affiliate commissions, and help get you into that 5%.
Ok let’s get to it!!
1) Find The Right Product Or Service
Well this seems pretty obvious, but so many people get this one step so very wrong. More often than not people end up promoting products or services because they have been told they can make a lot of money if they do.
If I told you – you could make lots of money if you promoted my taxidermy program, and you had zero interest in taxidermy and had no interest in learning about taxidermy.
How long do you think you would last promoting my taxidermy program?
I give you 30 days – if that.
Never promote a program just because someones tells you to.
The affiliates that build successful affiliate marketing businesses are the people that build their business around a hobby or passion. Something that they’re excited about and keeps them excited.
Let me ask you the same question again.
How long do you think you could promote an affiliate program that’s related to a passion or hobby of yours?
I say – forever!!!
2) Find Larger Per Transaction Offers
When it comes right down to it, it takes about just as much work to persuade a customer to spend $50 as it does to persuade a customer to spend $2o0 or even $500.
Now the reason I said about is that you’ll find that lower priced products or services usually have a higher conversion rate.
So for example, let’s say you’re promoting a product that sells for $30 and the commission for each sale is 50% and this product converts at 5%.
So for every 100 people who check out the product, 5 people are going to buy it. This means you’ll make $75.
Ok now you have a $200 product and it has a commission of 50% and has a 3 percent conversion rate. Again 100 people look at the product 3 people will buy. So now that puts $300 in your bank account.
What about the $500 product. This one has the same 50% commission and it converts at 1%. Again 100 people check it out and just 1 person buys, but that 1 person just put $250 in your pocket.
This one simple shift in considering what you promote has a direct impact on your earnings.
3) Seek Out Recurring Billing Offers
As the name suggests “recurring billing” or as some people know it “continuity”. These are sales that happen automatically and over and over again.
If you’re like many people you’re a continuity customer. Do you have a gym membership? Do you pay your car insurance monthly? What about your cell phone bill? Website hosting, autoresponder?
These are all recurring payments and these companies will keep getting paid as long as you are a customer.
The great thing about recurring affiliate programs is all you have to do is persuade the customer once. Then you’ll get paid over and over again, month after month until that customer stops being a member.
By promoting recurring billing programs you have the opportunity to create a residual income. This is how you build financial independence by getting paid over and over again for doing the work once.
So instead of starting a zero each month. You begin each month with a head start by building off the money you’ve already made from the previous month.
This is where the majority of my income comes from each month. And it grows every month.
What one works best?
- A – Promoting a product that sells for $100 and making a one time affiliate commission of $50.
- B – Or selling a $100 product with a recurring $50 monthly commission for as long as the referred customer remains active?
Yeah, “B” sounds better to me too.
4) Negotiate A Higher Commission
Yep, you can do this.
Let’s say you’ve been promoting a product and you’re making great conversions and making lots of money. Both for yourself and your affiliate vendor.
Why not ask for a higher commission from the vendor?
But wait, before you do.
You can’t be just some everyday affiliate. You need to have a track record of great sales for the product. This is your bargaining chip.
The vendor can look at your sales and see if you decide to walk away he/she would lose a lot of sales. And since we’re all in this to make as much money as possible. The vendor may decide that it’s in his/her best interest to give you a higher commission rate.
It’s a win-win.
Now not everyone will give you a higher commission rate, but some will. And you don’t know until you ask.
5) Start Outsourcing
I know this requires a shift in thinking and I remember when I first started to outsource I was nervous.
But once I did and realized how much free time it gave me because now someone else was doing some of the heavy lifting for me.
I screamed “Why didn’t I do this sooner!!?”
You have to stop trading dollars for hours. You only have so many hours in a day, and even less if you’re still building your business and working a fulltime job.
So how much is your time worth?
Let’s say you want to write an ebook or a free report that you’re going to use as an incentive for opting onto your mailing list. And you know it’s going to take at least 25 hours of your time to write.
And don’t forget you still have all the other day to day things to do. Plus if you’re like me a weekly to do list as well. Now add to that this ebook/report you want to write.
Ok, suppose you could have this ebook/free report written for you for let’s say $200. And it would take less time for a ghostwriter to write things for you. Do you think it’s worth it?
You’re damn right is is!!
Think about it, if it’s going to take you at least 25 hours to write this. You’re actually paying yourself $8 per hour to do so. This bases on the cost of doing this is $200. Is your time worth $8 per hour? Personally I don’t think so.
I know people that make more money per hour at a coffee shop then that.
Your time is worth far more than that. Use it wisely.
While this ebook/free report is being done for you, you can focus on other money making tasks.
6) Get The Opt In First (squeeze page)
I’ve mentioned this many times. It’s a lot easier to sell to a warm customer than a cold customer. That’s why building your mailing list is a must part of your marketing.
You’ve heard it a million times by now – “the money is in the list”. And it’s so true. If you have a responsive list, you can generate a lot of income. In many cases a fulltime income.
It’s a known fact that people will buy from someone that they know, like and trust. And the only way that can happen is by building a relationship.
And one of the most effective ways of building a relationship with people is through a mailing list. Having people on your mailing list gives you the opportunity to stay in touch with them, keep them up to date with what’s happening on your website and yes send them offers.
And one of the best ways of building your mailing list is to drive people directly to a squeeze page.
When it comes to properly crafted squeeze page that has a highly desirable free offer there’s no reason not to have a 20 to 30% or higher conversion rate for people joining your mailing list.
This is one of the mistakes I see affiliate marketers make. They send people directly to the vendor’s sales page. By doing that you’re missing out on a lot of potential sales.
Did you know that the average sales letter only converts at around 2%? Yes some covert more but on average it’s only 2%.
So that means out of every 100 people that you send directly to an affiliate sales page 98 of them will not buy and they will be lost to you forever.
And what happens to the ones that don’t buy?
Well a smart affiliate vendor will have some sort of capture system in place on their website to get those people that don’t buy into their mailing list.
Now of course not everyone is going to end up on this affiliate vendors mailing list, but a lot can. And once someone is on their mailing list they now have the opportunity to offer them other products or services for months and possibly years to come, generating a very long term income.
None of which benefits you in the least.
But if you sent these same 100 people to a squeeze page first and got them on your mailing list. Now you have the opportunity to build that relationship and create the opportunity of generating more sales.
Plus once someone has purchased from you once, they are even more likely to buy from you over and over again.
7) Do A Case Study
We all want proof that something works. But here’s the problem I see. Most social proof is pathetic. It’s not real proof it’s just one long sales pitch.
Your customer wants REAL proof that the product or service does what’s advertised.
And a real case study is one of the most powerful methods that you can use to show that the product or service you’re promoting does what it says it does.
Let’s use one of the most profitable niches as an example. The Weight Loss niche. A twenty billion dollar a year industry.
You could create a case study by providing a weekly account using the product or have someone you know use the product. In the study you can showcase the strengths of the product as well as point out any flaws.
I would also provide before and after pictures including your weight and measurements from the beginning and as you go through the program to your target weight.
And remember the more information you provide, the more specific you are, the more credible your case study will be.
Offer A Bonuses (incentive)
Offering bonuses is a great way of increasing your affiliate income.
It’s just a matter of providing your buyer with something that compliments the product or service or expands on the product or service.
For example, it’s no secret that I’m a member of the wealthy affiliate and that I proudly promote the wealthy affiliate. And in my marketing I offer a bonus to anyone who decides to upgrade to a premium membership.
And that bonus is…
I’ll design a custom header for any one of their websites. If you asked me to do this outside the WA I would charge you $375.oo. But for upgrading your membership in the wealthy affiliate I’ll do it for free.
This is a huge value added bonus that expands on being a member of the wealthy affiliate.
Here are some other bonuses ideas you can use.
8) Create A Quick Start And Resource Guide
How many times have you bought a product and you wished they had a step by step guide or even a resource guide?
Why not create your own Quick Start & Resource Guide guide?
In the quick start section you could provide the most efficient way of using the product.
And then in the resource section you can have a list of tools and resources that will help the person use the product. These resources could be paid and free.
And don’t worry if the product you’re promoting has a resource guide or even a quick start guide. Your customers will appreciate the fact that you took the time to put this together just for them.
It adds the personal touch, it shows you do care about your customers plus it showcases your personal experience and take on the product.
And you can go one step further and make even more money. With the paid resources, if you’re an affiliate of those resources make sure the links in your guide are your affiliate links.
Just make sure you tell people that those links are your affiliate links.
9) Create A Webinar Or Video
I want you to think of the last product you bought. Got it?
Now what questions did you have before and after you bought the product? I bet there were more than a few. And you’re not alone, most people have questions and they’re probably had the same ones you had.
So write them down and then create a webinar or video (screencast) and answer each one of those questions. Now don’t worry you don’t need to be spielberg or hemmingway to pull this off. Just be yourself.
In fact many vendors would be happy to help you out, simple because they know it can generate more sales.
Now all you have to do is make mention of this exclusive buyer bonus offer in all your advertising. All they need to do to collect this bonus is to email you with their receipt and you’ll send them the bonus.
10) Offer One-On-One Help
If someone offered you personal help with a product they had success with and then they said they would help you succeed with it. What are the odds you would be more inclined to purchase the product?
Personally I would be more inclined to do so.
This is very easy to set up. Simply do it though Skype chat. It’s free and easy. Or if you have a phone subscription like I do with Skype you could even call people if you wanted too. The choice is yours.
All people have to do to get this bonus is provide their receipt of purchase. Now simply set up a time for your one on one session. I recommend this be just a one time help session with a set time frame. A one hour one on one help session is very fair.
And to keep things nicely organized you can use appointment scheduling software. Simply set up the times you’re available and then let the customer choose from those times for their one-on-one with you.
11) Hold A Webinar
If you’re like me I love doing webinars – they are so much fun. So if you’re comfortable with it you could hold a webinar about how to best use the product they just purchased.
Cool thing about doing a webinar like this is, you can record it and use it over and over again. Aww the power of leverage, you gotta love it.
NOTE: If you’re plan on recording the inside of a membership site make sure you get the permission of the owners first. It may be against the policies of the site owners not to have the members area recorded.
You certainly don’t want to go through all the work of doing a webinar just to find out you can’t use it.
12) Offer Limited Time Incentives
Ok you already know offering a bonus is a way to kick up your affiliate commissions. On that same note you can offer a bonus but attach a limited time or limited number bouns. This creates urgency and can be really effective.
For the limited time bonus you simply set a time that the bonus expires. So if your customer wants to receive this bonus they must act before time runs out. So it could be an one hour, by midnight or 24 hours.
Little tip: The shorter the time frame for getting the bonus the more urgency you create.
For the limited number bonus, simply decide on the total number of people that have the opportunity to get your special bonus. Having updates on how many bonuses are left will again create urgency.
This Can Be The Hardest For Many Affiliates
13) Stay Focused And Hang In There
Forget all the ways I just shared with you to increase your affiliate commissions, this is the #1 reason affiliate make little or no money.
No patience, and no work ethic.
I see and hear about all the time. I see new affiliate that say “I’ve been doing this for a month and I’ve not made a single penny, I’m done!!”
And off they go to chase down another so-called make money overnight scam product.
Look affiliate marketing is something that does not happen overnight. It takes time. Despite all those ads that tell you, you can make $10,000 in 10 days.
This is a business you’re building so it needs to be done consistently and with patience. Hell I bounced around for 3 years before I found the right mentor and got the right training before I saw my first real money online.
And then 18 months after that I was making a fulltime income and have never looked back. And that was back in 2005.
I said it earlier and I need to say it again.
Before starting, do your research, find the right product that fits you. Never promote a product or service because someone tells you, you can make a lot of money. That’s usually a recipe for failure.
Start with a hobby or passion and then find products or services that align with your passion or hobby.
Do that, and the skies the limit on how much you can earn. And have fun doing it.
Because who wants another job, right?.
Thanks for dropping by, I hope you found this information helpful. If so, please feel free to share it with your audience.
And of course if you have any questions or comments please feel free to leave them below.
I Believe In You!