Affiliate marketing is an online business model where you, as an affiliate, earn a commission each time you sell a product or service that has been created by another business.
Everyone loves to talk about generating passive income from affiliate marketing. In other words, selling a product or service once, then receiving income from that sale every month thereafter.
So, how can it be done?
FREE Checklist: 12 Ways To Make More Money In Your Business
Passive Income From Affiliate Marketing
Did you know that the reason a lot of insurance salespeople make good money after working for a few years is something they like to call residuals? A residual is what they call the payment they get from every person actively paying on a renewed policy.
So, the salesperson makes money when the customer buys, but they also make money on future renewals and all payments. Most of the time these payments happen monthly. The individual amount is small but after you have more customers it adds up, and you get income piled on income without additional work.
That’s what makes recurring and residual income so profitable.
Recurring Affiliate Commissions
As an affiliate, you want to try to find a few products to promote to your audience that offer an opportunity to earn recurring affiliate commissions, and you can repeat exactly what the insurance salesperson does to make more money in a passive way.
Yes, at first, it’s work, but you’ll make money again and again off that work. That makes it worth it. It’s one of the very best ways to create a reliable, passive income.
What Products and Services Offer Passive Income From Affiliate Marketing?
As an affiliate, you’ll want to search for solutions for your audience that have a recurring option, for example, a mastermind or a membership that is recurring will work. It totally depends on your niche of course, but you’ll likely be able to find some form of membership or recurring payment product to promote. Whether it’s software, hosting, or something else is the question and totally depends on your niche.
The best way to find options like this is to search for them. Join groups consisting of your ideal audience, follow your competition, and read industry publications. The more you immerse yourself in your niche, the more likely you’ll find these programs to promote to your ideal audience. That’s where the answers are.
Check The Fine Print
When you find memberships and recurring payment options to promote, check into the affiliate program closely to ensure that you do get paid for repeat purchases and make a commission on residual income. Not all product creators allow their affiliates to make recurring commissions, so that’s something you need to check on to be sure.
Even if they don’t offer it now, but you know that you can make a significant amount of money for them, don’t be afraid to approach them about changing their program parameters for you. Likely, if you can provide a significant increase for them, they’re going to be all for it, but you may have to ask.
Free Checklist: 12 Ideas For Making More Money In Your Business
Most successful affiliate marketers understand exactly how their passive income works. And they put a tremendous amount of work into every single promotion. That’s where recurring income can come in and help make a difference. One extra stream of income might not add up to much, but if you set up more than one income stream, it can become a river of revenue. Download my free report, 12 Ideas For Making More Money In Your Business and use it to help grow your business and generate passive income from affiliate marketing.