Ideas from “Entrepreneurial You.” Dorie Clark “Monetize your expertise, create multiple income streams and thrive”
Affiliate Marketing
Following the various ideas we have covered in earlier episodes you may have been able to build a substantial following. Now is the time to consider affiliate marketing as a low-cost option to generating income. This is particularly attractive if you do not yet have a product to sell.
What is affiliate marketing? It is an agreement where you agree to promote a product or service in return for a share in the income generated from your lead. If effect it is a fancy term for the historical, but still relevant, finder’s fee.
The most widely known affiliate program is the Amazon associate program where if someone clicks on your link you earn a commission on anything they buy in the next 24 hours, with some caveats. It is easy to set up your associate status, I did it in a few minutes. But there are a few things you should know, and I will share them in my new blog The Geriatric Entrepreneur launching to tie in the start of season 9 on IBGR next week. Although I will be focusing on the challenges of starting an entrepreneurial business later in life, as the tag line to my new site says “suitable for all ages” the content will be relevant to all. Amazon is not going to make you rich a few hundred dollars a month is likely to be your maximum earnings. Some folks have made much more. If you have a good following and promote products that are relevant to your community you will achieve a level of success.
My earnings in the first week of being an Amazon Associate – zero dollars. I must build more of a following.
