Welcome to another episode of the Plutus Awards Podcast. Our community is filled with hundreds of stories from creators and entrepreneurs just like you. And through this show we share these stories of challenges and successes from bloggers to podcasters from writers, speakers and more. I’m your host, Michelle Jackson.
Today’s guest is Patrina Dixon, the It’s My Money Lady. We talk about the impact that COVID had on her business and the unexpected opportunities for growth that occurred from pivots that she had to make during that time. We discussed why she loves affiliate marketing — what it is and what it isn’t — and how her community guides her business decisions.
How to Affiliate Market the Ethical Way
Notes and summary from this episode
● Patrina Dixon-It’s My Money Lady she teaches people how to live better lives through understanding the fundamentals of finances.
● She shares how she got into the personal finance space.
● There was a point where she recognized that she needed to become a better steward of her money.
● As she got better with money she also decided to attend a financial conference.
● Patrina became a student of personal finance.
● What was it like for Patrina to start making content and then transitioning to make money with her brand.
● She’d always wanted to run her own business and building her brand was a perfect convergence of her goal and personal actions.
● Her initial actions were talking about personal finance, then she wrote a book in 2016 (geared towards youth)
● Attending FinCon and meeting other creators in the space really opened up her mind as to what she could do from a content creation standpoint.
● Patrina’s first book was self-published and the one thing she wished she’d done better was marketing her book.
● Standout products or service that she enjoys is speaking in-person to her community
● I wonder how COVID impacted her business
● People were finding Patrina via her website and she’s her own walking brand.
○ She intentionally wears her t-shirt wearing how to find her
○ People also finds her via Google
● 2019 was her highest revenue generating year. 2020 was supposed to be the same and then COVID had a huge impact on her business. She had to figure out what to do next.
● The question “What do I do next?” became the question that she focused on.
● She reframed her availability to virtual and became comfortable with showing up online.
● The second quarter of 2020 was severely impacted.
● This pivot actually helped with the growth of her business and she brought in more people to her team.
● I ask an awkward question about her revenue and how it was impacted.
○ It DROPPED
● Patrina and her virtual assistant pulled out her whiteboard and reworked the process.
● Quarter 4 is when she saw the difference and they really talked about where to put her focus and time.
● Patrina also works a 9-5 in addition to her business
● I wonder about how Patrina found people to support her in her business.
○ She needed time back in her day and wanted to focus on the parts of her business that she excelled in
● She worked with paid interns that she found via YWCA
○ Then she transitioned to a Virtual Assistant, podcast editor, etc.
● Patrina focused on what was NEEDED in her business and found people to help her via her community.
● What was it like building a community (The Squad) vs. just having content out there?
○ The community were the people who were always engaging with her content
● I ask Patrina about how she views affiliate marketing and what is it?
○ The promotion of other folk’s products and services. It’s not MLM or a pyramid scheme
○ She loves affiliate marketing so much that she created a course and has earned 4 figures just from affiliate marketing.
● What’s the deal with the idea that affiliate marketing is an MLM play?
● Don’t become an affiliate of everything, just of the things you love. Patrina LOVES Honeybook
● 3 easy things content creators can do to monetize their platforms via affiliate marketing
○ What are the products and services that you use? Look for affiliate programs on the product’s website
○ Share the affiliate link often and talk about the product often and in a natural way. Avoid sounding like you’re selling.
○ Have a strategy.
○ EXECUTE your strategy
● Patrina has a podcast and I wonder if she uses it as part of her affiliate marketing strategy
○ She does and includes a call to action within her conversations.
○ If the guest happens to have something she can become an affiliate of she may consider becoming an affiliate.
● I wonder if Patrina has a YouTube channel. She leverages YouTube in two different ways
○ Records her podcast via Zoom puts the video on YouTube
■ Uses show notes
○ She also records short video episodes and shares links on her videos
○ Patrina has a spreadsheet that details everything related to the affiliates that she shares.
● How does Patrina know what’s a good fit for her community?
○ She asks A LOT of questions
● Building community via Facebook
○ Asking questions for clarity and getting people on her email list
● It is a lot of time
○ Community members who DON’T purchase are valuable in different ways
Where to Find Patrina
● Patrina Dixon: itsmymoney_
● The Money Exchange
● YouTube: It’s My Money with Patrina Dixon