Monday, October 25, 2010

9 Key Ways for Effective Affiliate Marketing

The simplest and the economical way to increase your business is by building a good network of affiliates. It is not of having numerous affiliates, but a few good ones can be a source of regular sales to your online store. And what more, you pay your affiliates only if sale happens. So, there isn’t a reason why you should not look at building an effective affiliate network.

  1. Commission Structure: This is the most important factor to decide. You need to spend a considerable amount of time and study the prevailing rates in the market, the method, withdrawal methods and process. You need to decide on such commission structure so the affiliates are attracted to the program.
  2. Enticing Invitation: The invitation that is being sent to affiliates should always be tempting to sign-up and take-up your program. If you feel the affiliate is a / or can be a ‘Super’ affiliate then call them and talk to them.
  3. Competitive Study: You can look at competitors’ affiliate program and affiliates and try to attract them to your program. Check how you can make your offer more attractive and enticing to get them to your website and keep them with you permanently. You can get these details by participating in various forums and discussion boards. You can also use the competitors’ affiliate link search in Google and can reach their website. Usually, the affiliate links follow a basic structure and you can easily search for the affiliates using them.
  4. Motivate and Reward Affiliates: You not only have to provide them with design material like, newsletters, content, email templates, banners…etc but, you also need to motivate them and reward them for achievements. If they make more sales, there is a point to make them happy as well, so that they work harder and stick to your program. You may consider of providing a bonus to affiliates who reach certain set sales goals in a period of time.
  5. Educate Affiliates: From time to time you need to share knowledge and educate them with known strategies and techniques. They also need to have the right product knowledge and do not forget them to educate them.
  6. Personal Rewards: A personal touch to your business relationship can help your good affiliates stick to you. After all, you are helping out each other in business. A hand-written thank you note, flowers or a wine bottle. These personal touches will not go unnoticed, but be assured; your affiliates will always remember it and will remember that you have gone that extra mile which your competitors have not gone.
  7. Call Every Affiliate: Do not just call the best and good affiliates. Try calling each of them and thank them. Also, try to learn their problems and see if you can resolve the same. See how you can make their life easier.
  8. Advance Info: Let you affiliates know in advance about any new product or version release in advance. They will feel they are not being kept updated and informed. If they get such information from you through an email or a call, rather than the press release or your website, they not only feel involved but, they will try to be prepared for the release.
  9. Make Affiliate a ‘Super’ Affiliate: Do not ignore small affiliates. Smaller affiliate work really hard and a small push from your side will help them to become ‘Super’ affiliate. If they feel that they are being ignored then, they will move to your competitors. So, always pay attention to such affiliates and help them to become big ones. A few good and ‘Super’ affiliates will help to generate sales all by it self in future.
So, note that it only pays to have affiliates which generate sales. And, you need to keep them happy and motivated to generate more sales and not allowing them to go away.

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