Module 7 Lesson 3: Affiliates

Summary

This affiliate module lesson dives into the ins and outs of affiliate programs, emphasizing the importance of using them with companies you genuinely support. It highlights the benefits of recurring revenue programs like VidIQ, which can build a steady income over time. The speaker advises on negotiating exclusive affiliate deals for higher earnings and stresses the importance of promoting only products you believe in to maintain audience trust. The lesson concludes with a caution against prioritizing affiliate income at the expense of reputation, advocating for genuine product promotion and ethical monetization strategies.

Takeaways

• 😀 Affiliate programs are a great way to earn money by promoting products or services you already use and love.
• 💰 The primary purpose of affiliate programs is to benefit the audience and provide recurring revenue, not just a one-time payment.
• 🔄 Recurring affiliate programs, like VidIQ, offer the advantage of receiving payments every month, building a steady income over time.
• 📈 Companies often provide standard affiliate programs, but it's recommended to ask for exclusive programs with higher commissions.
• 🤝 Negotiate for flat rate sponsorships that come with affiliate links to increase earnings as more people sign up through your link.
• 🔑 When promoting an affiliate product, it's crucial to genuinely believe in its value and explain how it will help the audience.
• 💡 For products like VidIQ, emphasize the benefits such as AI systems trained on your channel data, daily ideas, advanced analytics, and competitor analysis.
• 💸 Justify the price of the affiliate product by showing its value, like VidIQ's comprehensive features starting at just $1.
• 🙅‍♂️ Never promote a product you don't use or that isn't good; it can harm your reputation and alienate your audience.
• 🚫 Affiliate programs are not the main source of big money, so it's not worth damaging your reputation for short-term gains.
• 📚 Some creators and clients use link cutting in video descriptions for extra cash, but it depends on whether you prioritize YouTube growth or money.

Q & A

What is the main purpose of affiliate programs according to the script?

The main purpose of affiliate programs is to benefit your audience and also to collect a little bit of money over time, rather than to get super rich.

Why is it important to only use affiliate programs with companies you already use and love?

It's important because it ensures that you are genuinely recommending a product or service you believe in, which helps maintain trust with your audience.

What is the difference between one-time payment affiliate programs and recurring revenue affiliate programs?

One-time payment affiliate programs pay you a single commission for a sale, while recurring revenue affiliate programs pay you a commission every month for ongoing subscriptions, allowing you to build up an income over time.

Can you name some examples of companies with one-time payment affiliate programs mentioned in the script?

Examples of companies with one-time payment affiliate programs mentioned are Artlist and Skillshare.

What is special about the affiliate program of VidIQ according to the speaker?

VidIQ is special because it is a recurring affiliate program that pays you every single month, which can help build a steady income stream.

What advice does the speaker give regarding negotiating with companies for better affiliate terms?

The speaker advises to ask if companies have an exclusive affiliate program with a higher commission, and to negotiate for both a flat fee and an affiliate link.

How should creators market affiliate products to their audience according to the script?

Creators should market affiliate products by showing that they are genuinely good and explaining how they will help the audience.

What is the first step in marketing an affiliate product as suggested by the speaker?

The first step is to explain why the audience actually needs the affiliate product, highlighting its benefits and relevance to them.

Why is it important to justify the price of the affiliate product to the audience?

It's important to justify the price to show the audience that they are getting value for their money and that the product is worth the investment.

What is the final piece of advice the speaker gives about promoting affiliate products?

The final piece of advice is to not lie about using the program or its quality. Only promote products you genuinely use and believe in to maintain audience trust and long-term success.

What is the speaker's opinion on the role of affiliate programs in building a large-scale business?

The speaker believes that while affiliate programs can provide extra income, they are not where the big money is and should not be at the expense of one's reputation.