How I Made $2,170.45 for ONE Click
I wanna show you "behind the scenes" what I did to inspire you and share a few tips that you could benefit from.
If you need any help or support moving forward, just ask me and other community members in the comments and we'll do our best to help you further.
I could write this post without mentioning the program's name but I believe it will be easier for you to follow when I tell everything transparently.
I'm not here to promote that program, I simply want to show you an example so you can use the same principles promoting whatever programs you want.
Which Affiliate Program Did I Use?
Binance affiliate program.
Binance is the biggest cryptocurrency exchange in the Universe. I've enjoyed using it since 2017. Most of the affiliate programs that I use are related to products that I use myself.
I also recommend the same to you. If possible, promote products that you use yourself. Of course, that's not always possible but sometimes it is.
I like Binance because they have low fees, it's easy-to-use, company values are great and they have strong leadership.
They pay 20% commission for affiliates for all the fees that your referral pays for a lifetime. Or if you hold 500 BNB, they'll pay you up to 40% commission.
So, let's say that a person you refer to Binance pays $100 in fees, you'll earn $20 commission.
(Now as I was writing this I just noticed that they'd pay 41% commission for influencers with a following... I wish I had noticed that before! :D
Anyways, it's a good lesson for you and me that always check out for a specific affiliate program since the program that I was using was just for basic users.
I submitted the application for the influencer affiliate program and now I'll continue writing this post to you.)
It seems that I left some money on the table by not applying earlier... Don't make the same mistake!
$2.170.45 for ONE Click
A beautiful thing about the Binance affiliate program is that they pay you commissions for a lifetime.
This specific referral has probably been trading a lot (professionally?) so the fees have added up over time. He joined through my link in 2018.
This one referral earned me 0.06282943 BTC which is $2,170.45 at the current rate when I'm writing this text.
You can see in the picture 2 referrals that haven't paid any fees so I earned nothing.
This brings us to an interesting topic.
Recurring Commissions vs One-Time Commissions
There are affiliate programs that pay you one-time commissions, for example, $100 per sale or $10 per action.
And then there are programs that pay recurring commissions, for example, membership programs and Binance in this case.
One-time commissions may often look bigger at the first glance. You may think it's also a faster way to earn money.
But in many cases, recurring affiliate programs may be more profitable.
For example, the Wealthy Affiliate affiliate program pays you $8 for the initial sale which may seem very little. But on average each sale generates over $121 in the long run because you get recurring commissions and people love the service here.
In my example with Binance, many referrals didn't do anything. They just signed up and never even used their account.
I earned $0 for those referrals.
But as you saw, some of them used and I earned up to $2,170.45 for a referral. And by the way, I will still keep on earning money for that referral.
AND... I could have earned over $5,000 for that same referral if I would have realized their affiliate program earlier.
Don't Get Discouraged If You Don't Earn Money Right Away!
Many of the referrals that come through your links will probably not generate much money. Don't get discouraged!
If you are using recurring affiliate programs, some referrals are going to make it up.
I don't know if I used someone's affiliate link when I started using Aweber email marketing service... But if I used someone's link, that person is right now earning over $100/month just for 1 referral = me. Over the years he has earned $1,000's just by referring me!
With 10 referrals like me, he may be earning over $1,000/month passive income for doing absolutely nothing. Talking about the power of recurring commissions!
When you keep on promoting products and services that people love, you're gonna enjoy those recurring affiliate commissions sooner or later.
How Did I Promote It?
To be honest, I didn't promote Binance a lot. It was just a side thing since I loved their service and I was creating cryptocurrency-related content anyway.
That's why I probably also missed the "official" affiliate program and I was just using the basic referral program.
Here's what I did:
- Blog post: Binance review
- Linked to that review from some of my other cryptocurrency blog posts.
- YouTube videos: Binance review + Tutorial + Mention in the video about the Best cryptocurrency exchanges.
- I showed Binance on my Udemy course about cryptocurrencies.
It's worth mentioning that I created that content in 2018. That's why commissions have added up over time.
My Plan Moving Forward
Now I'm planning to create a few Binance tutorials to promote it further since I've surprisingly realized the power of their affiliate program and I know that people will benefit by using their service.
I'm gonna start by creating
- Step-by-step tutorials on how to get started Binance
- How to earn money through their platform
After publishing those 2 videos, I'm gonna listen to people's questions and feedback and I'll be creating videos helping people further on Binance.
5 Quick Key Takeaways:
- Promote products that are great and provide great value for people.
- Recurring affiliate programs are more powerful than you might think.
- Some referrals will not generate you money. Don't worry because if you do the work, others will.
- Double down on what works. Since I recently realized how good the Binance affiliate program is, I'm now planning to promote it more.
- Create tutorials. It's one thing to tell people to use something. But when you SHOW step-by-step, they're much more likely to take action.
It's Your Time!
- Roope "Helping you to succeed online" Kiuttu
PS. Let know in the comments if you'd like to see more posts like this one where I show examples of specific affiliate programs.
I also have a question for you.
Are you using recurring affiliate programs?
PPS. If you haven't yet started the make money training here in Wealthy Affiliate, click here to get rolling now.