Make Big Money Partnering With A Referral Marketing Company. Referral Marketing is a great way to earn money from the comfort of your home. If you want you can earn a significant amount of money. In this post, I will go over what referral marketing is and how I’m making money.
What is Referral Marketing?
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Here’s an example of what I’m currently doing in referral marketing and help you understand exactly what it is.
The company I partnered with pays me money when I get a customer to set up an account. After people set up an account and buy products I earn money.
The company makes the products and basically does everything on the business end. They take care of all the product fulfillment and everything the customer needs.
All I have to do is share my product reviews and do simple marketing to get people interested in shopping at the company website.
In a nutshell, all referral marketing is referring people to the company and its products.
Referral Marketing is slightly different from Affiliate Marketing. With Referral marketing they are not giving you an affiliate link.
With referral marketing, the people are setting up the account through the corporate website and that new customer is linked to you as the referrer. Because you are the referrer you get paid every time that person shops at the online store.
With Referral Marketing you are typically speaking to or in some type of contact with the person you are referring to. As an Affiliate Marketer, you may never speak to the person that ultimately buys the products and or services.
I like both Affiliate and Referral Marketing however, I like Referral Marketing more because the residual income will be long-term.
How To Do Referral Marketing
Step #1 Partner With A Business
The first step is to partner with a company you like and enjoy referring people to. Listed below are some of the companies that offer referral-based marketing and pay you for the referral.
- Dropbox
- Uber
- Evernote
- Tesla
- Harry’s Shaving Club
- And thousands more…
I like to partner with companies that have consumable products so I can build long-term residual income. Building any type of business has its challenges that’s why I prefer to promote products that people will use over and over again for the rest of their life. This way I do the work of referring them 1 time but, continue to get paid for many years to come.
So the first step is to choose a company to partner with.
If you want to get more information on the one I partnered with click the link at the top of the page labeled MY #1 INTERNET BUSINESS.
Determine Your Marketing Method
After you find a business you want to partner with you need to determine how you will market the business.
- Word of mouth
- Direct mail (postcards or letters)
- Pay per click (Google or Yahoo)
- Friends & Family
- Social Media (Twitter, Youtube, Websites)
There are multiple ways to market and refer people to the company. That’s your job in the partnership with the company is to refer people through some form of marketing so they buy from the company. after they buy and create an ongoing membership your job is basically done.
The company will take over from that point and build a relationship with the new customer. Now your efforts will pay you for many years to come if you partnered with a company like the one I’m partnered with.
My Referral Marketing Method
I like to use Direct Mail as my main marketing method. I use letters and postcards to bring my products to the attention of people I find on a special list.
When people read my product letter or the postcard I invite them to go to my special website. When they go to my special website they will get all the information they need about the products.
This gives them an opportunity to buy the products and enroll them in a monthly subscription.
The automated system on the website will take over from there. That’s the really great part about referral marketing is after they visit the website and join the savings club the company takes over.
You won’t need to worry about product fulfillment or any type of billing, accounts receivable, or anything like that.
I also use the internet and blog on my website as a way to get eyeballs to my offers.
You can pick a niche market and write a blog post that provides value-based content. If people like the content they will follow what you write about. They may even make purchases from your site.
Make Residual Income From Referral Marketing
One of the reasons I like Referral marketing so much is the ability to earn residual income.
Residual income is money that keeps coming in over and over every month. Just like we pay our utility bill and phone bill or any ongoing monthly bill.
Some referral marketing businesses will pay you month after month after the customer sets their account up. Every time they shop at the website and make another purchase you will earn a commission. I like these types of businesses because you put in the work effort one time and they pay you as long as that person remains a customer.
It’s important to pick a company that has a consumption-based product. A consumption product is a product like toothpaste or vitamins or any type of product that gets used and then needs to be bought again.
Referral Marketing Commission Amounts
The amount of money you earn when one of your referring customers shops depends on the company. Some companies pay 7% and others pay as much as 50%.
There are pros and cons to each type of compensation plan and percentages. The company I’m partnered with starts out paying around 7% and will pay up to 20% along with other bonuses.
Referral Marketing Final Thoughts
The main reason I like referral marketing is that you make sincere recommendations to the company and they pay you. They pay you for something you may have done for free anyway.
How many times in our life have we made a recommendation to someone and didn’t get paid.
By partnering with a company that offers Referral Marketing incentives you can make a lot of money.
If you want to get more information on the one I partnered with click the link at the top of the page labeled MY #1 INTERNET BUSINESS.
