Every now and then, a third party will make a change. Bloggers around the world panic for a little. They get angry. They look for something they can do to prevent it. And then it moves into acceptance. However, these moves also remind us that we need to diversify income at all times.
The latest change comes from Amazon. If you’re part of the affiliate program, you’ll have heard that the commission rates are dropping. AGAIN!
Honestly, this isn’t the first time Amazon has done this. It won’t be the last. And I wouldn’t be surprised if Amazon decided to get rid of its affiliate program in a few years’ time. That’s just the way it is. Amazon doesn’t need affiliates to promote products anymore.
What the move does remind us of is that we need to diversify income. If you haven’t done this already, now is the perfect time to start doing so.
It’s not just about different methods of income
In the past when I’ve talked about diversifying income, I’ve mentioned using different ways to make money. I’ve mentioned advertisement revenue, affiliate income, revenue share sites, and many other ways to make money online. Whether you blog, vlog, or even do both, you need to look for different ways to make money online.
But it’s not all about the different methods. You need to diversify within the same method, especially when it comes to affiliate marketing.
The last thing you want to do is rely on one source of income for affiliate marketing. That’s where some of the panic with Amazon comes into play. This form of income is cut (and by 60% in some cases) and people who didn’t diversify income have understandably panicked. This isn’t the time for the income to drop!
There are many affiliate programs out there. Some of my favorites include Share A Sale and VigLink. I also use Zazzle now and then. They’re programs to consider to start diversifying your income.
Stop relying on other people and diversify income
When you choose affiliate marketing, you’re relying on other people. There’s nothing wrong with this. I do affiliate marketing at lot. However, I don’t just rely on affiliate marketing. And this comes down to diversifying the way you make money online.
Don’t just rely on other people to help you make money. Sure, there are some great affiliate programs out there. Some will let you earn 50% or more (Amazon has never really been more than 10% even at the good times) and will let you have a cookie last for 30-90 days (it’s 24 hours for Amazon and always has been). But you’re still relying on those people always having an affiliate program. You need to find other options.
It’s time to rely on yourself. There are a few ways that you can make money that only relies on you:
- Create your own course
- Share printables
- Offer your services
- Create your own membership site
- Create products to sell
There are just so many ways that you can make more money online. You don’t need someone else’s platform to start selling. The method you use will depend on the type of products and services you offer, but there are still plenty of ways to diversify income and not worry about one program making a change.
It’s not all about making money
While right now I’m talking about diversifying your income, putting all your eggs into one basket isn’t just about money. Third-party services will change all the time. Pinterest has recently made some changes that require more work on creating pins, Facebook has made a lot of changes to algorithms over recent years, and let’s not start with Google’s constant changes! If you rely on third-party services all the time, you need to stay on top of changes.
It’s why I don’t rely on just one social media for traffic. And I certainly don’t rely purely on social media and ignore SEO. And I also have an email list that I control! You need to keep changing and updating. Running a blog is running a business, especially if you expect to make a full-time income from it. Being a work at home mom requires time and effort.
Look at how you can diversify. Make sure you diversify your traffic buildling. Diversify income. Don’t just rely on one service. When something changes, you won’t panic.