Affiliate marketing can be a beneficial revenue stream for any kind of business.
However, too many people who claim to be coaches spend so much of their time, energy, and effort in affiliate marketing that it makes you wonder whether they’re actually a coach or an influencer. Such is the case of coaches who enter launch partnerships: do they have their own businesses or are they just salespeople for others’ coaching services?
But if affiliate marketing can indeed be beneficial, how and when can you incorporate it into your coaching business as an additional income stream?
In this episode, I share my thoughts on affiliate marketing. I illustrate how affiliate marketing works and list a few businesses that use affiliate marketing programs as part of their business model. I discuss the relationship between your database of prospects and the amount of money you can make from affiliate marketing.
I also describe the difference between high and low effort affiliate marketing, explain when you should and should not become an affiliate, and reveal the most valuable asset in your job as a coach.
“What you promote and how frequently you do it will go a long way in affecting the trust that you have with your prospects and clients.”Matthew Kimberley
This week on Book Yourself Solid® Marketing For Coaches Podcast:
- What affiliate marketing is and its similarities with referral marketing
- Coaches and businesses that get affiliate partners for their products
- How you should incorporate affiliate marketing into your coaching business
- How much money affiliate marketing can add to your coaching business
- The wrong reasons to do affiliate marketing
- Putting prospects into different buckets and why people subscribe to your mailing list
- High and low effort affiliate marketing and three things to consider if you want to be a launch partner
- Giving away prospects as a money-making strategy
- The most important asset in your coaching business
- Drawing the line between “coach” and “influencer”
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