TMBA 257: The Current State of Affiliate Marketing

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TMBA257: Thoughts On Recruiting Effective Affiliates post image

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Bossman is back this week and we are talking about affiliate relationships. How do you get others to promote your products? We’ll talk about how to “write the religion” and give potential content publishers a reason to tap into your narrative. We also field several listener questions, including what to look for when hiring your first employee, and the ins and outs of establishing business credit.

Listen to this week’s show and learn:

Unpluggin From the Webz

Unpluggin From the Webz

  • The two different kinds of affiliate relationships.
  • How the nature of affiliate relationships is changing.
  • The difference between affiliate tokens and content tokens.
  • How “needle turning” relationships are made in person, and take time to develop.
  • Why you should be building a product first and having a culture and brand to follow.

People on this episode:

Mentioned in the episode:

Listening options:

Bossman Vs. a Giant Tree

Bossman Vs. a Giant Tree

Thanks for listening to our show! We’ll be back next Thursday morning 8AM EST.

Cheers,

Dan & Ian

Published on 08.14.14
  • Bryan

    Another great podcast. I’d love to hear some more expanded thoughts on hiring and developing a sales force. Living in an online world and running a ‘technical’ orientated business (cad-sourcing.com) I’ve had trouble finding people with the right mix of technical know how and sales chops. I’ve heard you mention your sales team. What do you look for in picking the right person for the sales team?

  • Jeff

    Ian, I had the exact same experience with improved vision after a week away from the screens

  • http://fotoclasses.com Chris

    Hey Dan and Ian, I’m grateful for the affiliate recruiting insights. Thank you. That makes total sense about the differentiation between distribution affiliates and relationship affiliates. Focusing on live events and conferences to help build out those relationships is brilliant and something we can definitely do more of. That was also a great point on how we need to develop a more compelling story and narrative as well as build out new photography course offerings & other content that can sync better with other platforms.

  • Sophia Bera

    Hey Dan & Ian,

    Great episode! I know that you two are not huge fans of traditional investing in brokerage accounts because you feel that the money is better spent to fund your business rather than investing in the stock market. However, I just wanted to mention that if you do have a brokerage account that you contribute to while business is good, then you can actually use that account to borrow on margin when you need more cash for your business without actually selling your investments. This is a riskier strategy that I don’t normally recommend for my clients, however, you and your audience are entrepreneurs and have a different view of “risk” so I wanted to point this out at a potentially better option than using credit cards to fund your biz.

    Keep up the awesome podcast! Loved the tracking hacking podcast as well!

  • http://www.tropicalmba.com/ Dan Andrews

    Hey Sophia thanks for pointing that out and that’s a great point, appreciate you swinging by to share the perspective. I think bossman in particular is aiming to do some more traditional investing in the coming years, and certainly any way to have some access to credit (if used intelligently) is something we want to know about. We’ve found the process to be a bit slow, good thing we focused on cash flow out of the gate! It’s not 2007 anymore… :)

  • http://www.tropicalmba.com/ Dan Andrews

    Chris thanks for listening to the show and for sharing your business with us and the listeners, I’m sure others appreciate seeing what you are up to and how you are approaching getting the hard stuff done. Best of luck with the business!

  • http://www.tropicalmba.com/ Dan Andrews

    you guys sound pretty woo woo. next thing you’ll mention my back will straighten out too!

  • http://www.tropicalmba.com/ Dan Andrews

    ah hey Bryan, yeah that’s the million dollar question. how to hire a sales force i’m not so sure Ian and I have ever done it effectively, we’ve always focused on building magnetic lead funnels and training our (less experienced generally) people in our products and in great customer service. the traditional swinging “sales guy” is pretty foreign to us, although many have mentioned our business would benefit greatly if we took that stuff seriously. Perhaps because we never liked that stuff ourselves, we didn’t manage to incorporate it into our business.

  • http://www.davidgoldmanphoto.com David Goldman

    Hi guys, I’m the founder of fotoclasses.com that Chris had called in to get some feedback about. I just wanted to thank you both for your time and input. I am new to this world having worked as a commercial photographer for many years but your advice was really valuable and as we continue to grow the brand I will be taking to heart many of your suggestions. Thanks again.

    David

  • http://www.tropicalmba.com/ Dan Andrews

    Hey David your work is great! congrats on the business… happy to help in a small way! keep cracking and keep us updated!!!

  • http://daybreakrun.com/ JoeFilipowicz

    Great episode. What occurred to me listening to your discussion on affiliate marketing is how quickly we are coming full circle in this “internet revolution.” Already, we are circling back to developing “in person” relationships as a means to build lasting business. Building good old fashioned relationships and leveraging the technology of the internet. Big things in the future for those who make that connection.

  • http://www.tropicalmba.com/ Dan Andrews

    haha true… the more things change… eh?

    technically it’s an issue of loopholes and inefficiencies– they are getting harder to expliot, so whereas I’ve heard so many big money affiliate stories from the early 2000’s, i just don’t hear them much anymore. door is closing! :)

  • http://davidhehenberger.com/ davidhme

    I think it says a lot about your audience that we’re talking about “how to get affiliates to promote your products”, instead of “how to make money promoting other people’s products”. The former is more interesting to business owners, the latter is more relevant to “make money online”-types.

  • http://www.tropicalmba.com/ Dan Andrews

    that makes sense man! can’t help but to push down the value chain, otherwise i feel like i’m sitting at the gambling table

  • Sophia Bera

    Glad I could help! I think that the entrepreneurial mindset is essential for Gen Y but a mistake that I see a lot of business owners make is only funneling money back into their businesses. Taking some money out of the business and investing it elsewhere can help you get through the hard years and diversify your risk. By having a portfolio of investments, you’d also have leverage to tap during those times. Here’s an article on Investopedia that helps explain how leveraging is used in portfolios: http://www.investopedia.com/articles/stocks/10/leverage-investing-strategy.asp. Feel free to pass it along to the Bossman!

  • http://www.tropicalmba.com/ Dan Andrews

    appreciate that Sophia!

  • https://plus.google.com/u/0/+MerScott/about Mer Scott

    Great Info, I am inspired to add a bit about what I know regarding “the ins and outs of establishing business credit”…

    Business Credit Scores are totally different than personal Credit Scores.

    It can be attached to business tax information (IEN), and not your SSN (you Personally).
    It’s NOT automatically established, it requires proper steps.
    Business credit scores are calculated on a 0-100 scale.
    They are used to calculate a business’s risk of going late on business obligations within the next 12 months.

    Business Credit Scores (BCS):

    Payment are made right away 100 BCS
    Payments within early payment period 90 BCS
    Payment is prompt 80 BCS
    Payment comes 14 days beyond terms 70 BCS
    Payment comes 21 days beyond terms 60 BCS
    Payment comes 30 days beyond terms 50 BCS
    Payment comes 60 days beyond terms 40 BCS
    Payment comes 90 days beyond terms 30 BCS
    Payment comes 120 days beyond terms 20 BCS

    Amazingly, Most businesses do not have a score at all.

    The Quickest way to build Business Cash Credit is to get supplier credit from companies that report to Business Credit Bureaus

    Supplier Credit (Net 30/60/90 etc.)
    vendor Accounts
    Shipping Accounts
    Company Gas cards

    Oddly most businesses offering Net 30 payment terms don’t
    report to the Business Credit Bureaus.

    But once you establish five Supplier Credit lines and pay them right away you will have established Business Credit. Now you can apply for ‘the all elusive’ Business Cash Credit without using your SSN:

    Cash Credit

    Revolving credit Lines (BLOCS)
    Business Bank Loans
    Business Credit Cards
    Business Credit Cards

  • http://www.tropicalmba.com/ Dan Andrews

    very interesting Mer I was not aware of this, thank you for sharing

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