You don’t always need to create new products and services to improve your bottom line. Sometimes, you can just recommend someone else’s.
Is there a feature you won’t be adding to your product? Is there a complimentary product that already works well with it? You can recommend these types of products to your customers and earn commissions through an affiliate program or other partnership. Your customers get a great solution, you send another business new sales, and you get a new revenue stream. Dare I say it’s a win-win-win?
If you are struggling to find affiliate programs, work out another type of partnership. Often times, recommending each other’s products without any form of financial compensation can work quite well. Simple arrangements like this are much easier to setup and maintain.
Partnerships can work in any field, but affiliate marketing is more available in certain niches. This tactic is especially effective for info products like membership sites where you frequently recommend products to subscribers.