Affiliate Marketing 101: How To Set Up A Profitable Partner Program.

02-Aug-2021

Affiliate marketing is one strategy that has been established l to increase sales performance and awareness of products and services. It has been employed by several big names such as Amazon and Shopify on account of its efficacy.
If you own a product or run a service and are looking for a market strategy to build and expand your brand awareness, affiliate marketing is a great pick. Affiliate marketing can drive traffic to your website and increase the chances of sales conversion.

WHAT IS AFFILIATE MARKETING?

Affiliate marketing is a form of marketing where individuals are offered commissions on products purchased as a result of their marketing. For instance, if an individual purchases your product directly as a result of my advertising, then I take an agreed percentage as commission.

WHY YOUR BRAND NEEDS AN AFFILIATE MARKETING PROGRAM?

  • Organic traffic generation due to mentions from third-party affiliate websites and partners.
  • Outstanding reach to target audience due to a wide expanse of affiliate marketers network
  • Cost-efficient as payment is only based on outcomes.
Steps to set up a profitable partnership program
Setting up profitable partnership programs requires being meticulous and circumstance. Here is a quick guide to achieve this

Set down rules and define the scopes -

The Initial thing to do is to categorically determine and state your target audience and other specific details about them such as age group, location, or income level. This is important for your affiliate partners to comprehend how to direct their efforts. It is also crucial that you indicate the model of payment, the percentage of the commissions, and all other terms and conditions to facilitate transparency.



Select reasonable and plausible commission offers -

Do not be tempted to offer more than you are capable of in a bid to amass affiliate marketers. Endeavor to calculate the commission to be paid based on vital sale metrics, such as the costs per acquisition, and expected amount of sales. You can also do some research on how much percentage your competitors offer.



Examine and Accept affiliate intakes -

Admit intending affiliates into your program after you must have ascertained their credibility; this can be done by requesting their history in affiliate programs or conducting checks on their social media accounts and websites. You can also reach out to trusted affiliate networks to request specifically for marketers.



Make available resources affiliates can start with -

This is a very important step in setting off your affiliate a good ground and giving them a head start. Ensure there are resources available to give an idea to your affiliates about the kind of content you desire to be used for your products and also so give them a guide to follow. This would secure better understanding and harmony between your brand and the activities of your affiliates.



With all that has been said, this is your chance to break into the affiliate marketing strategy to boost yourselves and increase your brand awareness. Following these simple guidelines, you are on your way to attaining the dream sales conversion and growth rate of your brand.



Related News

article

Affiliate World Asia - Bangkok

Affiliate World Asia is the top performance marketing conference, bringing together key affiliate and e-commerce marketers from around the world.

May 16, 2022
article

How Publisher Audits Lower Fraud Risk

Digital Ad fraud is a multibillion-dollar problem that is currently affecting the digital Ad industry. One of the common ways these cybercriminals

May 10, 2022
article

India Affiliate Summit (IAS) - New Delhi

The India Affiliate Summit is the ideal place for discussing the latest innovations and debating the implications of affiliate marketing. IAMAI fou

May 08, 2022
article

Impact of Automating Marketing and Sales Processes

Studies show that the marketing automation software industry is one of the fastest-growing industries, with yearly growth of over 20%. This rapid g

May 04, 2022