An Audio Version Has Been Prepared for Your Convenience
Word for Week 25 - Brand
Definition - Your brand is the image customers have of your business, so take the time to define it thoughtfully and early, before the market does it for you. – The Hartford.com
Insight – Code of the old West, RIDE FOR THE BRAND: that meant loyalty to the ranch and rancher that pays you. Cowboys took a great deal of pride in giving their all for the brand. - beefrunner.com
This brings to mind a client of mine who sells a line of cosmetics for a popular brand name. As an affiliate, my client makes quite decent money, but then the company changed direction and my client doesn’t want to move that way. She has a large database of clients, but she cannot legally approach them because they technically belonged to the company she is selling for. My client has no distinctive brand of her own.
She has been “Riding for the Company’s Brand”. Now she must continue doing that, or build a different business plan.
The question is, how can you make money as an affiliate and stay true to your brand? There can be a conflict when it comes to building and maintaining your own brand and not becoming a “Company Man”.
But before we get too far ahead here, let’s define Affiliate Marketing. Quite simply, It’s the concept of revenue sharing—paying commission for referred business. In other words, when one company pays another company or individual to make sales.
The origin of affiliate marketing goes way back and it has become way too sophisticated for a detailed discussion here, but the point I’d like to leave you with is simple. If you have a brand you must nurture it; to keep it alive and to keep it strong over time.
Otherwise, you’ll become known as an unknown, meaning no one will truly know what your business stands for there-in lies a lack of trust.
One way to ensure keeping your brand intact is to keep a close eye on your database. It can be easy to lose sight on ownership when your eyes are constantly being exposed to the bright shiny things being presented by your eCommerce partners.
If you are an affiliate seller, and you have your own brand, then you need a system in place to keep your brand top-of-mind. If you don’t have your own brand, then perhaps you have not thought far enough into the future.
Many affiliates call themselves business owners and may say they are self-employed. It’s okay and the IRS agrees. However, if your business plan was written for a self-sufficient, sustainable entity, then your brand should always come first and you should always have a way to capture and manage data, that is contact information.
If you are an MLMer or an affiliate, just one step down from being employed, but with no employment benefits, I highly recommend you start “Riding for Your Own Brand”.
We help small business owners build their brand …even when they are affiliate marketing. If that’s what you to do, schedule a strategy session with me and we’ll get started.
Your database is your most valuable asset…and you must have ownership of it.
With Paulette Smith