What is Affiliate Business Program ?
Affiliate business program is a form of performance based marketing technique used by businesses to reward customers or visitors who act as affiliates and get more customers by their own marketing initiatives. It is a revenue sharing program within which an affiliate places banner ads on his site and gets a fee when a customer clicks on these ads.
Affiliate business program has close resemblance with other popular internet marketing techniques. A successful affiliate program also uses organic search engine optimization techniques, content marketing, email marketing, premium search engine marketing services like Pay per Click, Display Ads etc. An automated affiliate business program allows a web advertiser to place banner ads or links of the merchant on their website. These web advertisers get an affiliate fee from sales generated from the affiliate ads placed on their website. These affiliates are paid per click, per lead or per sale basis.
How to build a successful affiliate business program from scratch?
Strong product portfolio : You must ensure that you have a strong product portfolio that manages to attract potential customers through affiliate partners. You must work towards developing your product portfolio before you get into designing your affiliate business program strategy.
Good website : You must use industry’s best practices to ensure that your website is indexed well and has content that is relevant for the users. Your website should make sense to your affiliates only then they will be interested in lending valuable web space your ads.
Comprehensive agreement : Draft a comprehensive agreement that will govern activities of affiliate partners. An affiliate agreement should clearly define best practices, roles and responsibilities, payment terms, contract cancellation terms etc. This would not only enable you to manage your affiliates well but also save you from technical and legal hassles involved in execution of the program. It is important for you keep adding to your list of affiliates instead of banking on a select few.
Affiliate partners : Screen the applicants to avoid poor performing, trouble-making and potentially embarrassing affiliate partners. Pay attention to the websites or storefronts of the affiliates and also discuss about where they are going to place your ads.
Compelling ads : Empower your affiliate partners by equipping them with creative promotional material. This would help them in focusing on conversions instead of creating marketing collaterals to drive traffic on the site.
Take care of your Affiliate partners : Maintain a steady and timely flow of commissions to the affiliates. Help them with tips to be successful in converting leads for your product portfolio. Amazon Affiliate marketing program is known to offer a steady flow of income to affiliates who sell products listed on Amazon for a commission. They attract potential customers by using effective content marketing strategies that include informational articles and true product reviews. This model is quite an ideal one and covers most of the points described above.
It’s time you start working on your affiliate program to get recognition from the market and contribute towards positive cashflows. Affiliate marketing courses by Learning Catalyst can help you design the most optimum affiliate program for your business. It is worth the effort and is sure to pay off in the long run.