The world of affiliate marketing is a competitive one. As a result, affiliate marketers need to find ways to get ahead of the competition. It’s not enough to just provide your affiliates with a few links and think that you’ve done your job. It takes more than that.
According to research by the Forrester Group, the median affiliate program has more than 10,000 affiliates, but only around 15 percent of those people actually take part in the program.
So what’s the key to leveraging affiliates and getting them to work for you when you get to a place where you have your own products to promote?
Provide Competitive Commission
There’s a lot of competition out there for people in affiliate marketing space. As a result, you need to offer attractive rates and remuneration. For the competitive among your affiliates, it’s also worth including incentive payments, including bonuses for top performers. These incentives will motivate your team and make them go out of their way to make you money.
Develop Super Affiliates
All affiliate marketers want so-called “super affiliates” – people who go above and beyond the call of duty to sell products. But they’re also a rarity, especially if you don’t develop them. Marketers with super affiliates tend to earn the highest commissions and get the biggest kickbacks, and so you need a super affiliate strategy.
As affiliate marketing becomes more competitive, it’s important for savvy people in the industry to use technology. This website, for instance, has information about how to manage relationships using sophisticated reporting and tracking software. Affiliate marketers who use data are a lot better at what they do than those who don’t because they don’t have to work in the dark. It reassures them and helps to convince them that their methods are working.
Offer Real Incentives
One way to get affiliates on your side is through intelligent use of incentives. This can help increase their productivity by providing compelling reasons to get actively involved in what they’re doing.
Incentives are best used around the holiday season. At this time of year, affiliates are working not only for themselves but also for the people they know. They want to be able to splash out on gifts.
Although many people incentivize their affiliates using cash rewards, it’s not the only way to do it. Offering incentives to high performers like “win an iPad” can also work. Just make sure to make it clear that affiliates have a high chance of winning. Some won’t bother to put in the extra effort if they think the chances of being rewarded are small.
Explain The Product
Don’t assume that your affiliates will educate themselves about the product you sell. Most don’t want to invest the time. You can plug this gap by providing comprehensive training, free webinars or information booklets. You can also seek out affiliates who are in demographics that already know a fair amount about the product you sell and why it’s valuable. Finally, you can keep affiliates updated about your products cheaply through regular emails providing information about new products you’re selling.
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