6 Effective Affiliate Marketing Strategies for Merchants and Advertisers
Companies or merchants are always on the lookout for affiliates. Affiliate marketing has actually been around for more than 2 decades now and it used to start out as a means to increase traffic on adult websites. Since then, it was quickly adopted by the commerce and e-commerce industries and a lot of people have benefited from such.
That being said, if you are a company that is on the lookout for really good affiliates, it is important that you make sure that your affiliate program is enticing in the first place.
For that to happen, you must first enrich yourself by learning what conversion rate optimization is (or CRO for short). Aside from that, you can also implement one or many of these strategies listed below:
Recruit Some Affiliates
One of the things that companies should do is to recruit affiliates. Aside from your affiliate program, there are numerous ways you can do this.
First is by using paid ads on Google. When making your targeted ads, make sure that it shows up whenever someone types “affiliate programs” in the search box.
Aside from using Google Ads, you can also use Facebook’s ad campaign as well. There are a lot of affiliates on Facebook and you will be remiss if you do not attract them using the platform.
Facebook offers a pretty robust ad campaign manager, so just set the right parameters and be done with it.
When Managing Your Affiliates
Once you’ve recruited your affiliates, it is important that you keep managing them well. Otherwise, they will just go to another company and you might lose the opportunity of becoming big in your chosen industry.
With that being said, I highly recommend that you hire someone to do this as it is a full-time job in and of itself. Your affiliate manager should be the one to coordinate with your affiliates; making sure that they know your brand’s mission and vision and that everything they do should somewhat be in line with your company’s objective.
Aside from that, affiliates will stay true to you so long as they are very well compensated.
Don’t Be Stingy with Your Affiliates
The biggest mistake that you’re going to commit when dealing with your affiliates is if you are stingy with them. If they are not well compensated, you can be assured that they’re going to find another company to work with.
However, it is also not a good idea to treat your affiliates equally with regard to their compensation. Of course, affiliate marketing typically follows a performance-based compensation model wherein the affiliate that does the brunt of the work should be compensated more than others.
Choose Only One Affiliate Network, at First
Another mistake that most merchants make is that they try to advertise their companies too broadly by signing up on a lot of affiliate networks.
If anything, you just focus on one and maximize your efforts there. Once you think that you can branch out, then to expand to other networks, but only do so if you are already established in one network first.
Affiliates really love it when their partner merchants talk to them about improving their craft. If you can provide them with an incentive, such as additional training and new learnings, then that would be great for both parties.
Continue to Grow Your Affiliate Channel
So, you’ve got a sizable affiliate channel, what do you do next? If your current affiliates are bringing you a lot of revenues, continue to improve your channel either by giving additional incentives to your existing affiliate base or recruiting new ones to help expand and improve your company’s growth.
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