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B1 Intermediate US 17 Folder Collection
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- So, here, this is one affiliate program
that has paid us nearly half a million dollars
in the past few years,
and here is another one that's put us
just over $100,000 in just about year's time,
and this one's what we've promoted
almost exclusively here on YouTube,
and we did that when we only had
around five or 6,000 subscribers.
If you've got a YouTube channel
that you want to make some extra money on,
affiliate marketing is absolutely the fastest
and the easiest way to do that,
but what if you've got a small channel
or maybe you're just getting started?
Can you still make $1000 a month or more?
- Uh, yeah, Captain Obvious,
isn't that the name of the video?
- Uh, yeah, so even if you are
a small channel or just getting started,
I'm going to show you three powerful ways
to boost your YouTube income by $1000 per month or more
with affiliate marketing.
So, let's rock.
(whimsical music)
Well, you may already be familiar with affiliate marketing.
Almost all major online stores
have some sort of affiliate marketing or a referral program
that you can earn commissions with
whenever you refer a customer to them.
When the customer makes a purchase,
boom, you get a commission.
So those well-known affiliate programs
are the ones from online retailers like Amazon,
Walmart, Wayfair and many, many others.
Now, those are good affiliate programs,
but the problem with that is that
the commission rates are pretty low.
On average, you're only gonna earn about four to maybe 7%
of the sale when someone makes a purchase,
and if you do the math, that means you're on the low end,
you'd need to refer about $15,000 in sales
every single month in order to earn $1000 in commissions,
and on the high end, you'd have to refer $25,000
in sales to earn $1000 in commissions.
Now, according to Shopify,
the average order value for customers referred
from YouTube, for them, is $37.63.
Now, at a 4% commission rate,
you'd make about $1.51 per customer.
The study also found that video content
on YouTube converts at about 1.16%.
So, that means that in order to earn $1000 in commissions,
you would need to refer about 662 customers,
and in order to get 662 customers,
if your videos convert at the average rate of 1.16%,
you need to get 57,069 views
in order to convert 662 customers, ouch.
Now, obviously, working with averages here,
so this isn't going to be accurate for everyone
depending on your niche, your audience,
effectiveness of your videos, blah blah blah,
it's gonna be different, and yeah,
almost impossible for brand new channels.
So basically, we need to figure out how to get
to $1000 a month in commissions with way fewer views,
so that is within reach for new channels.
So there are really three ways that you can do this,
and I'm gonna show you all the math,
so you can see exactly how doable
this really can be for you.
Now, the first way is to start promoting high-ticket items.
Now, for example, one of the things
we love to do here in Florida is kayaking.
Now, our house sits on a canal
that leads out to the Gulf of Mexico.
We see manatees and dolphins, all kinds of fish,
and our kayak really lets us experience
all that way up close.
Now we did a lot of research before buying our kayak,
and most of that research was actually done
on YouTube watching review videos.
Now, in the end, we spent thousands of dollars
on a Hobie kayak.
Now, imagine promoting a product like that
with your YouTube videos.
Now the outdoor store, REI,
their affiliate program pays 5% commissions.
So if you take a kayak, like this,
which was $3,349, you'd make $162.45 per sale.
Now that sounds a lot better than $1.51, right?
So this means you only need about six sales to reach $1000.
Now if we assume the same conversion rate,
that's potentially only 517 views that you would need
in order to refer six customers and make about $1000.
So, if you promote cheap stuff,
you only need about 57,000 views to make $1000.
If you promote high-ticket items, potentially,
you can only need 517 views to make $1000.
So now, do I have your attention?
I thought so.
- [Man] So, I think you winked the wrong eye.
- Yeah, I think I did.
So if you lean this way, you wink this way.
Right, okay (light laughing). - [Man] Yes.
- Okay, so we still have two more ways
that you can also do this.
Now, the next way to easily earn $1000
in affiliate commissions is to promote products
that pay just much higher percentage of the commission.
Now, there are affiliate programs that pay anywhere
from 20% on the low end up to 50% or more on the high end.
These products are almost always digital products,
online training courses,
software, membership sites, apps.
Since digital products
have much lower overhead than physical products,
sellers can offer much higher commission rates
to their affiliate programs.
For example, we've gone through several
online training courses to learn
how to sell products on Amazon.
Every single one of them has affiliate programs.
So, if we refer anyone to those training courses,
we get 30 to 50% of the purchase price.
Now the course that we like best,
that we recommend the most cost $1000
and that pays a 40% commission.
So on a product like that,
we only need to make three sales per month
to earn $1200 in commissions.
Now, the very first course that we bought cost us $5000.
Now, since a friend of ours referred us to that course,
we used her affiliate link to purchase.
That affiliate program pays 40% as well,
so she made $2000 when we purchased through her.
Imagine, making $2000 by referring one stinkin' customer.
So method number one is selling products
that just costs more.
Method number two is selling products
that pay higher commissions.
Method number three is actually our favorite.
Now, that is to promote subscription based products
that pay reoccurring commissions month after month
after month.
These are great because you can build up residual income
with every single customer that you refer.
For example, the Honest company has a diapers
and wipes subscription that is $80 a month.
They also have an affiliate program
that pays 5% commissions.
That means that you're making $4 per month per customer,
which means that you would need to refer a total
of 250 customers to earn $1000 per month,
and oh yeah, that's still a lot of customers,
but the great part about this is that
you only need to refer a customer once
and get paid every single month
that they pay their subscription,
and just think about how many years
people's kids are in diapers.
Now, the way we prefer to do this
is actually with digital products
that are gonna also pay a much higher commission,
which is how we make hundreds of thousands
of dollars a year, even with a small channel.
For example, Active Campaign is the email marketing system
that we use and we recommend,
and it has an affiliate program.
So whenever we refer a customer,
we get 30% of their subscription fee every single month.
Now Click Funnels is a funnel building software
that we use and that we highly recommend,
and we've done a ton of training on it, and guess what,
when we train on it, we refer people to use it.
Every customer we refer,
we get 40% commissions for their membership fee,
which is $100 a month, we make $40 per month per customer.
So with something like that,
we get $1000 per month for every 25 customers we refer.
Now another program that we use
and highly recommend is MyLeadSystemPRO.
It's an online marketing system,
and it pays as much as 50% commissions.
But, it's programs like these
that will have accumulative effect
on your monthly affiliate marketing income
because you're not just getting a one-time sale,
you're getting recurring, monthly residual incomes
for every single customer that you refer.
So, just to think about how doable this really is.
Imagine simply referring one customer every two weeks
through your videos to something like Click Funnels.
By the end of the year, you'd have 26 people
that would be making recurring payments
and you'd be making $1040 per month.
Now, that ladies and gentlemen, that is how small channels
without a ton of views can make significant,
$1000 per a month or more through affiliate marketing.
Now, if you want to learn exactly
how to create those videos on YouTube
that are gonna bring you affiliate sales,
plus examples of small channels
who are making just crazy amounts of money
with affiliate marketing,
you definitely want to watch this video next,
upper right corner of your screen
or at the top of the description.
Click that one next and I'll see you there, take care.
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B1 Intermediate US

How Small Channels Make $1000/Day on YouTube with Affiliate Marketing

17 Folder Collection
tlgetts published on March 30, 2020

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