Referral & Affiliate Programs – What To Know When Creating Another Income Stream
Nearly everyone appreciates having multiple sources of income. While it ensures greater financial security later on, setting up different income streams takes time, effort and resources. If you don’t have much of those to spare, you may have to wait for a while before you can generate extra cash. However, some side hustles require little effort. Some can even earn you discounts, promos and a sneak peek into the trends!
If you are looking for a quick and easy side hustle, you may want to consider trying referral and affiliate programs. Those that participate in referral programs get a reward, payback, or some sort of offer to referrers. If this is your first time considering this income stream, read on!
Find a company that you can get behind
Treat a referral program as a way to find products that you can personally vouch for. Don’t try to get people on board with a gadget, face product, software or service that you personally don’t believe in. It will definitely show in your phrasing and how you try to sell it to your contacts.
Before you sign up, it is also a good practice to be informed of what you need to produce when you refer a brand or product. For example, you might need to post the referral link for a set number of times or run advertisements. In the case of Chums referrals, you simply have to publish your codes online for people to use. Most referral programs are mutually beneficial—the person using your code will win, and so will you!
Most successful referrers only recommend products they use and love. This is because they have the evidence and resources to share with prospective newcomers to the brand; case studies that it works, for example, or past posts and news reports of its successes. Leave an honest review—this is a great way to draw people in. (Here’s more on why product reviews matter!)
Actually use the product being advertised
Sometimes, referrers don’t really avail of the service or purchase the product. Though it is not required, you would be able to speak of something clearly if you have direct contact with it. A referrer who can share their own experience with a brand will be more convincing and perceived as more trustworthy.
Aside from your own trustworthiness, you also boost the referred company’s integrity. When you use the product or service that you are talking about, it shows that you believe in the company.
If you are a blogger or if you have an active online brand, the products and services you choose can also impact your own messaging. Because of this, choose to highlight products and services that align with your personal brand.
Create articles that specifically talk about the product or service
When you are a blogger, use this opportunity to talk about the product or service you’re referring. Make a post about how they have helped you solve a problem, obtain a good reward, or gain an advantage. Affiliate marketing is an old but reliable SEO tactic, and using a referral program in this way is guaranteed to get clicks.
If you don’t have a blog or are not a media personality, you can still use this technique. Post on your personal social platforms. Go into social media groups and link your affiliate company there. Make sure this does not go against your group rules, though, or this might get you banned.
If you are part of a social platform exclusively for referring and recommending brands such as Chums, even better. You have an audience already geared toward finding the best deals and listening to people talk about their favorite brands.
Joining an affiliate or referral program is a quick way to discover new favorites and introduce your friends to some brands you love. Make sure you sign up with a platform that links you with a lot of companies so that you have a chance to cast a wider net and find more solutions for people in your circles.
Chums Referral is a community of friends who recommend products and services to each other. With over 50,000 registered users, Chums aims to disrupt the referral program industry by highlighting personal connections instead of discounts and coupons. Contact us today to learn more!
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