Plan out on your Affiliate Program. Every month, start putting a new strategy together. Are you going to pay out a little more? Perhaps a recruiting campaign? How about new promotions? Try and meet experts who can really help you in growing your affiliate network. Linkedin is great for this.
Below are some really basic ideas when it comes to affiliate marketing and really performing. Bear in mind, it will take a lot of dedicated hard work. Affiliate programs grow annually. Keep your expectations based in reality. Don’t expect too much to happen straight away. The better your website performs, the quicker your affiliate program will grow. So make sure you have done a great job on your website and do your best to improve your conversion rate over time. Only then will you have a truly productive affiliate program.
A more in depth knowledge of your affiliate program is essential. It will help you identify opportunities and illuminate successes and weaknesses that can help you decide the program strategy moving forward. Data analysis will enable you to:
- Segment your existing program. Who and what are your primary traffic sources?
- Prioritise and assign different tiers based on their revenue.
- Monitor any products and offers and their performance in relation to affiliate segments.
- Target communications based on segments and offer performance.
Incentives are undeniable quick wins when it comes down to program growth.
Introduce bonuses to improve the margin of active to inactive affiliate ratio. This can also greatly improve recruitment and turnaround from sign up to activation. Ensure you positively favour your top performers – everybody wants to feel loved. Maybe think about rewarding them. If you take care of any key affiliates it will increase loyalty to your brand.
Try Tiering your commission structure. An achievable tiered commission structure provides affiliates with targets to meet and also rewards them for their performance.
Remain clear about your goals at all times. It is paramount to the overall success of your affiliate program. Work together with key selected partners to shape your plan and try and ensure you are relevant and competitive. Affiliates can also be an excellent resource for testing new tech. They tend to be ahead of the game and can be a great method to test new areas to gain insight before spending extra cash.
Try and speak to your affiliates as regularly as possible. Try and understand their plans and share your own goals with them. The amount they promote you can be greatly influenced by the content, knowledge and information you share with them. Try and be as open as possible. It will greatly benefit you.
Affiliate meetings are important to building solid relationships. It’s also a good way to better understanding your affiliates. You will learn their method of doing business, their motivations and identifying vital new opportunities. The more proactive your affiliates are, the better your program will perform.