We increasingly hear the term ‘passive income’ being thrown around – the idea that we can continue to do the same as we are doing now, whilst earning more – it sounds pretty good, right? This is probably why the term has become so popularised and why there is an increasing shift for brands, businesses and individual entrepreneurs to diversify the way that they make money, so that they can ultimately work smarter, rather than harder, to achieve the success that they are aiming for.
SaaS Affiliate Marketing promises this golden unicorn of ‘passive income,’ which is very much possible if you/your brand/your business align yourself with an SaaS Affiliate Marketing scheme that is specific, and specialised, to your existing customers and their needs.
What is SaaS Marketing?
SaaS (software as a service) Marketing are services that customers are able to sign up to, oftentimes as a monthly or yearly renewable subscription. Frequently, this type of software looks to provide a solution to an issue that a business or entrepreneur may have, whether it be managing their HR tracking to social accounts or even accounting software, however, it is of course not limited to this and may be used for vocational reasons, too, such as learning a new skill or hobby.
Sounds great, how do I make an income from it?
A third party, such as a blogger or a business, will promote the SaaS Marketing brand that you are affiliated with, which will in turn earn your business a commission each time a user is directed to the product page of the product you are an affiliate of.
In some agreements, a commission is only awarded when a traceable purchase is linked to the initial click, which is sometimes achieved through the use of ‘discount’ codes, attributable to the third party, as at times the source of where the customer first heard of the product is not easily traced.
For example, if your business, called ‘Edge Solutions,’ gives a 5% discount on the products of the brand that you are working with as an Affiliate, with your code ‘EDGESOLUTIONS’ at checkout, this then creates an unequivocal link between the source of the sale (your company) and the completion of the sale.
Works for me, what are the next steps?
Step 1: Identify what type of brands you could align yourself with.
As a general rule, it is good to identify a brand that you can become an affiliate of that aligns with your specific niche. For example, if you are a consultant who teaches time and cost-saving business practices to CEOs of small businesses, becoming an affiliate of an HR company that helps small businesses to cut down on HR costs is probably the perfect match for you.
Check out Reditus to see SaaS partner programs.
Step 2: Work to build a great relationship with the brand.
If you are consistently selling a healthy amount of products for a company, you are in a better position to then negotiate a higher and more favorable commission structure as time goes on. Make sure to keep up a great relationship with the company and to really ensure that you have promoted their product effectively.
Step 3: Improve your existing position
The more high-profile the company that you are working for is, the higher your chances are of converting sales, as it is likely that they will already have great sales and marketing tools on their website once a customer has landed on their page. For this reason, we really recommend going the extra mile to improve your social media channels and overall brand reach, which will help both you and the brand that you’re an affiliate to.
We hope you found this blog useful – please make sure to check out our other blogs in this series for more tips on generating passive income!
