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7:34 am
May 18, 2013
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Michael @ The Student Loan Sherpa
| | Indianapolis, Indiana | |
| Member | posts 71 | 
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Hello all,
Today I joined the challenge and I figured I would waste no time learning from the experts in this community.
I created my website, http://studentloansherpa.com about 3 months ago with the intention of educating and helping people manage their student loans. I figured as an attorney with extensive experience dealing with student loans I could really help people. I added a few adsense banners to pay for my hosting and the site is already profitable (though I still have a ways to go before I get that first $100 check)
After spending some time on this site and others, I've begun to believe that my site could be a nice way to supplement my income. However, I have fears about objectivity when it comes to things like affiliate links, etc. If I recommend a financial product because I believe it to be a good one, but I profit from people taking advantage of it, will I ever have any reader credibility? For those of you who have faced this situation do you disclose to your readers your affiliate relationships?
Thanks in advance!
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9:13 am
May 18, 2013
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Money Counselor
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Excellent issue to raise and consider Michael. My observation is that bloggers' "ethics" range all over the spectrum. Some specialize in maximizing income and disclose nothing. Nearly every post is essentially an affiliate ad. Others (few) don't do any advertising at all. You'll have to find your own comfort zone. My only suggestion is to take your time, experiment, push your ethics boundaries just a bit, and see how different approaches make you feel and how much cash they bring in.
For what it's worth: On Money Counselor, I label ads as advertisement. If I incorporate affiliate links into a post, I disclose that Money Counselor may receive compensation through these links. In my opinion, if you're honest in what you write and are transparent with readers about money changing hands, you're credibility will be unscathed, probably even enhanced by your openness.
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9:17 am
May 18, 2013
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sooverthis
| | Kentucky | |
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The FTC requires bloggers (in the US, anyway) to disclose affiliate relationships, and the rules have changed lately to make those disclosures even more obvious to readers. I think it's a good thing, personally, and I like to know when a blogger is getting paid for a recommendation. Sometimes it's because I can help that person out – for example, I may be buying a certain software app and think to myself, "Oh, wait, so and so has an affiliate link I can use for this." The disclosure also helps in the reverse; if I know it's an affiliate link I can choose not to click the link and to visit a site directly if I want.
I think it's just better to be honest. If you let people know, "Hey, I'm an affiliate of this product because I use it and I believe it's beneficial" I think that makes them trust you more, not less.
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10:34 am
May 18, 2013
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Money Counselor
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Post edited 7:22 pm – May 18, 2013 by sooverthis
On Andrea's point, there's an interesting article on the topic of FTC affiliate link disclosure requirements here:
LINK
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6:13 am
May 19, 2013
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Michael @ The Student Loan Sherpa
| | Indianapolis, Indiana | |
| Member | posts 71 |
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Thanks for the link Money Counselor! Between what you and sooverthis have said, I think I'm definitely going to make any affiliate relationships very clear. I had feared that this would give me a competitive disadvantage, but from what you have shared, it looks like its the law. I'll be very curious to see if and how this ever gets enforced.
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12:15 pm
May 19, 2013
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Funancials
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Michael @ The Student Loan Sherpa said:
Thanks for the link Money Counselor! Between what you and sooverthis have said, I think I'm definitely going to make any affiliate relationships very clear. I had feared that this would give me a competitive disadvantage, but from what you have shared, it looks like its the law. I'll be very curious to see if and how this ever gets enforced.
I think Pat Flynn from Smart Passive Income does the best job of disclosure when it comes to affiliate links AND, as a result, I think he earns the most from the links as well. Assuming you are adding value (not simply pushing something in order to earn a buck), I think a little transparency goes a long way.
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