Hello and welcome to our “Give me Series 5!””, where we share five useful ecommerce tips that will help you improve your strategies and pave the way to success.
In our new episode,Diana Militaru, Affiliate Network Specialist at 2Checkout (now Verifone)discussed five essential approaches you should take this into account when leveraging affiliate marketing to maximize your income.
Selling effectively is a timeless challenge in commerce. We live in a time where “out with the old, in with the new” seems to be the fastest trend in the online market. This is where affiliate marketing comes into play.
So what should you do to capture new audiences and capitalize on these connections? Here are five tips:
Create your own affiliate program or partner with an affiliate network
First things first: you need to understand how a the affiliate program works.
An affiliate program is a partnership between a trader and publisher. Basically, the publisher promotes the merchants’ products on its site and as such receives a commission for each sale made.
When embarking on this process, you need to think about the type of your business, as this type of marketing strategy works best for e-commerce and online subscription businesses. Next, you need to evaluate your business bandwidth. This is an important step because you will be faced with different and multiple demands, such as offering support to new affiliates, managing commissions and supporting them with performance marketing software. From there, partnering with an established affiliate network can be a more lucrative direction, since you can directly access a market-validated framework and processes that will allow you to sell faster through this channel.
Collaborate with the right affiliates
A new blogger may be in the process of growing their affiliate website and may not have a lot of traffic yet, but that doesn’t mean they won’t generate income in the future. You may want to consider the following when evaluating the opportunity to work with a particular affiliate.
That of the advertiser website traffic and domain authority can give you valuable information. You can see how much organic and paid traffic each site generates month after month, using tools like Similarweb, SEMRush or Ahrefs.
With an affiliate marketing network, you can track the number of active campaigns an affiliate is running. As we all know, there is power in numbers, so the more, the merrier.
To get everything done right, consistency will be key. Make sure the affiliate site looks professional, polished, and consistent with your brand.
Also, don’t forget about relevance. If you use vertical affiliations who are known for their expertise in your industry, their messages will resonate better with your target audience. For example, if you are a merchant selling media applications, look for affiliates that specialize in software.
Offer unbeatable promotions
Often, new affiliates will start by announcing the campaigns you suggested during the recruitment process. If new affiliates are successful from the start, it will be easier for you to connect with them and gain their trust. It is important to keep in mind that the three main determining factors for affiliates are commission, product/service relevance and brand awareness. You will want to make sure that you provide them adapted information and attractive offers. As part of the promotions stack, approach each campaign with due diligence, whether that’s setting up special pricing, producing visual materials, or launching new campaign landing pages.
Maintain relationships and network
We all know that as a general rule in life, networking This is the key. This also applies to affiliate marketing partnerships. Since these are the accounts that generate revenue, you need to build relationships and maintain communication.
Engage affiliates in your program by sending them newsletters and updates each month. Contact them regularly to keep them interested in promoting your products and services. A good practice for your affiliated with power is to contact the base each month to stay informed of any issues or needs the affiliate may have. I guarantee that the affiliate partnership will be improved if you do this. Of course, this can be done with any of the affiliates, depending on your availability.
Monitor results and ask for feedback
When I say this, I’m talking about asking AND to give his opinion. A little communication will always be very useful to better sell your product. Try offering your affiliates back constructively.
You may discover that there are things you can do to optimize the process, such as adjust reduction according to the season and the territory, or show certain ads in certain places. In return, you can also ask for feedback, since affiliates have working knowledge of their community and can give you helpful advice.
So – five practical tips to help you maximize your strategy with Affiliate marketing. Now it’s time to go try them.
Thanks so much for reading! If you have any questions or suggestions, please feel free to share them in the comments section. We wish you good luck in finding the good strategies for your business needs. See you next time with more cool new tips!
Looking for more tips on how to win back lost customers and increase the long-term success of your business? Then you should definitely check out our dedicated “Give me 5” episode here!