And Generate More Revenue for Your Business

On this week’s episode of the PNC podcast, I explain why most physician online business owners should learn to be an affiliate marketing expert.

Affiliate marketing is a program in which an online retailer pays commissions to an external website for sales generated from their referrals. There are two ways to participate in an affiliate program:

  • As the business owner, creating an affiliate program for your products so that others can become affiliate marketers, and
  • As an affiliate marketer for an existing product or service to generate income by selling to your followers.

Our Sponsor

We're proud to have the University of Tennessee Physician Executive MBA Program, offered by the Haslam College of Business, as the sponsor of this podcast.

The UT PEMBA is the longest-running, and most highly respected physician-only MBA in the country, with over 650 graduates. And, unlike other programs, which typically run 1 – 1/2 to 2 years, this program only takes a year to complete. Recently, Economist Magazine ranked the business school #1 in the world for the Most Relevant Executive MBA.

While in the program, you'll participate in a company project, thereby contributing to your organization. As a result, University of Tennessee PEMBA students bring exceptional value to their organizations.

Graduates have taken leadership positions at major healthcare organizations. And they've become entrepreneurs and business owners.

By joining the University of Tennessee physician executive MBA, you will develop the business and management skills needed to find the career that you really love. To find out more, contact Dr. Kate Atchley’s office by calling (865) 974-6526 or go to nonclinicalphysicians.com/physicianmba.

Four Reasons to Be an Affiliate Marketing Expert

There are a couple of scenarios where affiliate marketing isn’t an appropriate way to promote your content. If an affiliate is serving the exact same market as you, they are a direct competitor and may cannibalize your sales. Conversely, if an affiliate marketer has followers with no interest in your product, promoting it will be a waste of time and effort. Those limitations aside, here are the four big reasons to become an affiliate marketing expert:

1. It may save your business.

Creating a new business takes a significant amount of time and money. Without cash flow, it’s easy to get burned out in the process. If you don't start seeing revenues, you will become discouraged and give up. However, if you’ve built a web site, a social media following, and an email list of followers, you can use affiliate marketing to start earning income very quickly.

2. It’s easy.

As an affiliate marketer, there is very little work to be done. Content creators supply all the links, code and copy needed to market their products, so all you have to do is cut and paste, and share with your tribe to start earning a commission. If you're the content creator, the technology makes it very easy to create affiliate links and track the sales made by each affiliate. 

3. It’s efficient and cheap.

As a content creator, affiliate marketing is far more efficient than traditional marketing because you never pay for promotion that isn’t successful. Affiliate marketers earn commissions, so they’ll only earn theirs when someone has actually purchased your product.

4. It’s low-risk.

Because of all the above reasons, affiliate marking is very low-risk. It’s worth identifying appropriate products and services to market for other business owners early in your business. And once you've begun coaching, speaking, writing, or creating courses, you should strongly consider inviting affiliate marketers to promote those services and products.

Summary

On this episode, I also offer four bonus reasons that becoming an affiliate marketing expert is useful to entrepreneurs. I find using affiliate marketing as a content creator, and as an affiliate marketer, fascinating. I intend to learn more about it, and I promise to return with more on this topic for you in the future.

Thanks for listening today. I appreciate your interest and support. Next week, join me here on the PNC Podcast as I desribe Affiliate Marketing, and how it can be part of a modern online business.

Special Offer

Last week, I presented my interview with Dr. Andrew Wilner on the topic of locum tenens as a nontraditional career option. An extended version of our conversation is posted on the Nonclinical Career Academy. You still have until May 15, 2020 to receive a Free Copy of The Locum Life: A Physician's Guide to Locum Tenens, Kindle Version, if you join the Academy (using any of the links on this page).

Links for Today's Episode

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  • Nontraditional Careers: Locum tenens, Telemedicine, Cash-only Practice
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Thanks to our sponsor…

Thanks to the UT Physician Executive MBA program for sponsoring the show. It’s an outstanding, highly rated, MBA program designed for working physicians. It is just what you need to prepare for that fulfilling, well-paying career. You can find out more at nonclinicalphysicians.com/physicianmba.

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Podcast Editing & Production Services are provided by Oscar Hamilton

Disclaimers:

Many of the links that I refer you to, and that you’ll find in the show notes, are affiliate links. That means that I receive a payment from the seller if you purchase the affiliate item using my link. Doing so has no effect on the price you are charged. And I only promote products and services that I believe are of high quality and will be useful to you, that I have personally used or am very familiar with.

The opinions expressed here are mine and my guest’s. While the information provided on the podcast is true and accurate to the best of my knowledge, there is no express or implied guarantee that using the methods discussed here will lead to success in your career, life or business.

The information presented on this blog and related podcast is for entertainment and/or informational purposes only. It should not be construed as medical, legal, tax, or emotional advice. If you take action on the information provided on the blog or podcast, it is at your own risk. Always consult an attorney, accountant, career counsellor, or other professional before making any major decisions about your career.