How Your Business can Utilize Affiliate Marketing
One of the best moves an online business can make is to setup an affiliate program for their product or service. Affiliates who choose to promote your product will get a percentage of the sale as part of their commission. You as the business owner get more traffic to your site from promotions that affiliates run. This win-win affiliate relationship is often used by businesses to bolster their online success. Here are a few tips on how to implement and use an affiliate program to increase your company’s revenue.
Setup Your Affiliate Program For Success
Preliminary tips on setting up your affiliate program properly:
You’ll need to decide on your commission payout structure. The two most popular commission structures are a flat fee for each sale and a percentage of each sale the affiliate generates.
Give your affiliates the marketing materials they need to be successful. Provide keyword lists they can target as well as affiliate banners they can place on their websites. Special offer coupons give your affiliates a great reason to publicize your online store.
Send frequent email communications to your affiliates. Let them know that you’re working to make your program profitable for everyone.
Use Affiliates as an Outsourced Sales Force
Setting up an affiliate network allows businesses to drive traffic. Affiliate marketing remains popular among business owners because affiliates function just like sales people. While it might not make much financial sense to hire sales staff, affiliate marketers can be added to the team without incurring any salary. They’re only paid if they bring buying traffic to the site, which means you’re paying them out of the profits they’re bringing in.
If you’re going to use affiliates as part of your sales strategy, then you’ll need to recruit affiliates into your network. There’s no point in having an affiliate program if you don’t have enough affiliates selling for you. An excellent way to recruit affiliates is to scan sites ranking for your target keywords. You’ll want to especially reach out to bloggers who might want to make extra money promoting your products.
Keep Affiliates Happy By Building Great Landing Pages
The first rule of starting your affiliate program is to develop good relationships with your affiliates. And one of the best ways to get affiliates excited about your affiliate relationship is to give them great conversion rates for their traffic. You don’t want to start an affiliate program unless you know you have landing pages that convert!
Unhappy affiliates can be the result of a company rolling out an affiliate program before they’re ready for it. A company needs to have everything functioning perfectly before giving out affiliate links. Because these marketers are working on performance, they’re not going to be happy with sub-par landing pages. Affiliates are smart marketers who will stop their traffic once they realize your pages aren’t converting. Don’t do a disservice to your affiliates by launching before you’re ready.
Before you even think about starting an affiliate program, you need to have a winning website to drive leads to. If you are a fairly new company, it’s important to lay the proper groundwork before starting your affiliate program. You should first make sure that your web presence is well established. This means that your site is working perfectly, your landing pages are well designed and your conversion rate is netting you positive ROI. You want everything to be optimized in your marketing funnel before bringing affiliates on board. Once everything is working fantastically, you can move on to rolling out your affiliate program.
Choose an Affiliate Platform That’s Right For You
The affiliate platform is the technology that allows you to manage your affiliate program. Many e-commerce platforms have an affiliate system baked into the software. If you’d like to choose one separate from your platform, consider popular affiliate management programs like HasOffers and Commission Junction.
When you’re finally ready to get your affiliate program going, shop around for demos of affiliate software. Research what each package can do for you, their prices and how well these packages work for your particular needs. You should also compare different outsource program management (OPM) companies. Unless you have someone in-house that knows how to manage an affiliate program, an OPM company can take care of the nitty gritty details. It can take a month or sometimes longer to implement an affiliate program. Paying an OPM to figure it out allows your company to hit the ground running.
It’s great to have affiliates working on your behalf to improve your business. Once you see your improved sales figures, you’ll likely include affiliate marketing promotions as part of your overall marketing strategy.
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