Yesterday, I defined active versus passive income in your Silhouette or Cricut small business. While most businesses are active, you can have a passive component. How? Through the use of affiliate programs!
What are Affiliate Programs?
As I mentioned yesterday, affiliate programs pay affiliates for promoting or recommending products. As you’ve seen here on the Cutting for Business blog, I often recommend products and services. When you click my referral link and purchase, I get a small percentage of the sale price. It’s important to note that the buyer doesn’t pay more from clicking on the link. Since affiliate income works in a hands off manner, it is considered passive income.
How to Incorporate Affiliate Programs in Your Craft Business
There are a few different ways to start using affiliate programs in your small business. Here’s an overview:
- Identify products that your buyers would be interested in purchasing. You’ll need to make sure that your recommendations make sense! Here’s some examples:
- If you sell customized shirts, you could recommend coordinating bottoms like leggings, shorts, or pants that match or complement your designs. Similarly, if you sell customized infant bodysuits, you could promote coordinating accessories like a bow or headband. An affiliate program through Etsy is available on the Affiliate Window platform (see link below) if you want to promote other handmade goods.
- If you sell planner accessories or stickers, you could suggest planners to your buyers. As an example, Erin Condren offers a referral program where you can earn money on each planner related sale you make on their site.
- If you sell cut files, you could recommend cutting machines, vinyl, paper, or fonts. Cricut has an affiliate program, as does Amazon.
- If you sell party decor, you could recommend coordinating party supplies like tablecloths or cups to match your decor line. Affiliate programs at party suppliers might work well.
- If you sell wooden signs, you could suggest coordinating room decor to your buyers. Affiliate programs like Wayfair or Amazon might be a good fit.
- Apply for the affiliate program. Usually, you fill out a quick application and wait a few days to be approved.
- Use a special link to promote a product or service.
- Earn passive income each time someone makes a purchase through your link(s).
Where to Find Affiliate Programs
The best way to find affiliate programs is to go to the site you want to promote and search for affiliate programs. Another easy way is to join affiliate program networks. Here’s a few of my favorites:
Once you join a network and are approved, simply browse or search for companies and products to promote.
Where to Put Affiliate Links
You can use affiliate program links on social media, your website, or even within your Etsy listings.
One more important note about affiliate programs. The FTC requires that you disclose that you are using affiliate links. Here’s a link to read more.
Affiliate programs are a great way to bring in passive income to your Silhouette or Cricut small business. Tomorrow, I’ll share concrete, real life examples of using Amazon’s affiliate program in your craft business.
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