Back on BBTRtv3, I talked about affiliate income as an additional revenue stream into your business. Affiliate income is where you sell the products or services of a complimentary company, and you receive a referral fee for doing so. It’s a great way to bring in additional income to your store, without having to outlay money for stock. Hey there, I’m Sal from SalenaKnight.com and the Bringing Business to Retail podcast, and today, let’s talk about what it takes, to be a great affiliate. As a retailer, you should have several sources of income. No business should rely on one source of income, and your store only derives income from sales, then you are at the mercy of any external factor that affects consumer spending. Now, you could branch out into several different areas, such as providing complimentary services, creating your own product range and wholesaling, but the easiest revenue stream that you can add into your sales funnel, is affiliate income. Affiliate income is where you sell the products or services of a complimentary company, and you receive a referral fee for doing so. Why does it work? Well, people don’t buy what you sell, they buy why you sell it. That’s a Simon Sinek quote, and it’s true. So the key to effective affiliate marketing, is to pick products and services, that you believe in. When you recommend your customer buy something, it’s your reputation that’s on the line. Hence, you need to love the products that your referring. Now if you’re like most people, when you find a product you love, you want to tell everyone about it. The key difference between that, an affiliate marketing, is that you get paid if that person goes ahead and purchases. This is not and MLM system. It’s professional – you’ll actively sell a product that you love. Your customer is happy, because you’ve solved a problem they had, even if they didn’t know they had it. The other company is happy, because they’ve gained a high quality client that they may not have normally marketed to and you’re happy, because you have a bit of extra cash flow coming into your store. So just what does it take to be a great affiliate, and earn, what could potentially be a significant cash flow stream for your business? Believe, know and love the product (or service) It should be a product that is complimentary to your brand, your product range and your brand ethos. Ideally, the products or services that you’re an affiliate for, work in well with your brand, but aren’t products that you would sell in your store. For example, if you’re a homewares store, you might have an affiliation with a property stylist. Likewise, if you have a children’s store that sells décor, a stylist would work well for you too. If you’re a fashion store, perhaps you’re an affiliate for a day spa or beauty salon. In my business, I’m an affiliate for several products. Those products include things like website hosting, other business programs that focus on areas that aren’t my specialty (like money mindset), website developers and point of sale systems. All of these are products and services that I wouldn’t or couldn’t provide, but I know they will work well for you. By introducing these products to you, it helps you to find solutions to issues that may arise in your business. You expect that I’ve done my due diligence on the product before I recommended it, because you trust the information that I provide. Sell the product like it is your own The top tip, and one that nearly all the others refer back to, it to sell it like any other product in your store. Don’t think of affiliate products as the poor cousin to the physical products in your store. Use them as an upsell. Use them to position a products desirability. They should be part of your product range and advertised, marketed and sold as if they were. Work out how it benefits your customers and let them know Don’t just say yes to any old product or service. When you know who your Ultimate customer is, you know what her pain poin