Woodworth Chrysler Dodge Jeep Ram Ltd.
Affiliate Marketing is Underutilized
Imagine a situation where you have a teammate working with you to grow your business and the only time you pay them is when someone buys from you. This is no risk affiliate marketing. Having one teammate could potentially lead to 1 new sale for you every month. But what if you had 5 teammates? In the first few months, you could potentially receive 5 new sales, but your long-term growth would be exponential because of the power of compounding. Those 5 new leads will also go to work for you, pending you provide the experience you’re capable of, providing an additional 1 or 2 extra sales per month through referrals.
Start by reaching out to other commissioned sales professionals such as Realtors, Machinery Salespeople, Small Business Owners, and other commissioned sales professionals. Look within your network and see if you have connections that you should be utilizing right now. If you don’t have any, check into social media, search relatable hashtags, and see who is active but also aligned with the way you do business.
You could say something like;
"Hello _________, I'm writing to acknowledge your presence on social media and the obvious success you’re having in your industry. I wanted to reach out today and ask if I could help promote your message and business to my circle of influence. I thought I'd share your message with my audience even if it's not as big as yours. I help people make their second largest purchase every couple of years, their vehicle. Please let me know what you'd like me to tell my audience about and how I can help."
And see what their response is like. Think about it from their perspective, this kind of message would be pretty hard to turn down or ignore. Especially as a commissioned salesperson. You’re both in the same business and share commonalities in your professions. This will open the door to a healthy conversation and lead to an opportunity to work together. You help them promote their business, and they will do the same for you.
There is no structure that will be the same. You may find that some people may be more demanding than others with what they want, but you have the right to be as demanding as they are if that’s the case. The goal is to be financially compensated for sending referrals who end up buying to them and vice-versa. You can promote your affiliate to your clients casually (don’t sell) in conversation when appropriate, and promote them on your social media as well.
Affiliate marketing can be defined as the process of earning a commission by promoting other people's (or company's) products. You find a product you like, promote it to others and earn a piece of the profit for each sale that you make.
Leverage this opportunity and see your sales grow!
Author - ReThink Selling: Why You Only Know 20% of Sales (coming summer of 2018) Owner - Woodworth Chrysler Dodge Jeep Ram Ltd. Founder - ReThink Selling www.rethinksellingu.com Founder - BidzAuto... disrupting the automotive industry starting September 2018 Top 40 Under 40 Automotive Professional in North America
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3 Comments
Scott Larrabee
Great advice. Affiliate marketing has made some very rich people in this world!
Kristen Tepper
IncentiveFox
Solid advice! We have some clients who have "affiliates" who send over 60 referral leads a year because they know they'll really $$ for successful referrals and that their leads will be taken care of!
Brandin Wilkinson
Woodworth Chrysler Dodge Jeep Ram Ltd.
You bet Kristen! Sounds like you have a good process nailed down. The goal with affiliate marketing is to create a win/win situation.