What is it?
The Affiliate Effect is all about securing new clients by incentivising others to recommend your offering.
Why does it work?
It works because very few things in business are stronger than a personal recommendation. When you recruit affiliates to sell your offering, you can not only tap into their network of contacts which you may never have reached otherwise, but the person will personally promote and endorse your offering (often because they have benefitted from it first hand). When faced with making a buying decision, something that is personally endorsed to you by someone you trust will nearly always be the choice over something that lacks this powerful endorsement.
How can you use it?
If it’s appropriate for your offering, you can speak with current clients that you know have enjoyed and benefitted from your work. These are people who may already be advocates for what you do, so approaching them with a monetised affiliate offer where they will receive a commission for referring to you should be well received. There are software providers who can manage affiliate schemes for you if you have a larger offering, or if you have a simpler offering and business, it’s easy enough to keep track of who makes referrals and how to reimburse them for their efforts.