Affiliate Marketing is great at delivering a consistent ROI for online merchants. Merchants can benefit greatly from affiliate marketing if you follow some simple rules and manage the program well.
For those who are not in the know, affiliate marketing is a practice where by a merchant rewards affiliates for delivering set goals to the merchant’s site. The goals can be anything varying from sales to new customer leads. You can view affiliates as an outsourced sales team as you only pay a set commission for results delivered.
The key elements to an affiliate campaign from a merchant’s point of view are for it to be accessible for affiliates, effortless to sign up and painless to promote.
Top of a merchants list should be to make the campaign fresh and new. Affiliates like strong brands, quality products and good services. To make your campaign stand out from the rest you also need to have originality and this comes in the form of your unique selling points. This makes your campaign painless to promote as it gives the affiliates something to shout about.
The next key element to think about is the commissions you will offer affiliates. The higher the reward the more appealing your program will be to affiliates. However having the biggest commission will not grantee sales as affiliates base their decision on Earnings Per Click. So for example if you have a high commission but deliver a low volume of sales an affiliate will choose a competitor that can deliver more sales even if the commission is lower as it makes more commercial sense.
The final element in managing your affiliate program would be to build solid relationships with your affiliates. Keep your affiliates up to date on your latest promotions and activities. The more affiliates know about you the easier it is for the affiliates to promote your business. As the old saying goes ‘All things being equal, people will do business with, and refer business to, those people they know, like and trust’
For more information on affiliate marketing please do not hesitate to contact Network Intellect.
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