How to set up an Affiliate Program?
The best kind of traffic is when you get other people to do all the heavy lifting for you – while you relax with your feet up and watch the visitors pour in.
That’s what affiliate marketing is all about. If you’re selling your own product, this is one of the most effective forms of marketing. The users are already sold on buying and so the traffic is highly targeted.
They arrive at your site with the intention of making a purchase. All because they are being directed there through a trusted sender – i.e the affiliate marketer.
4 Steps to set up an affiliate program:
Step 1: Set Up the Affiliate Program
Here you have two options:
a) You can install your own affiliate script.
b) Choose a third party platform to manage everything.
Unless you have a really good reason to do otherwise, save yourself the hassle and go for a 3rd party platform. Let them handle all the heavy work for you.
Step 2: Make the Affiliate Program Attractive
You need to offer a good enough compensation package for affiliates to take interest in your program. Trying to attract affiliates with a shabby offering will not lead you anywhere.
Once you have that part sorted, start to focus on having an attractive commission rate. If you’re selling physical products check the rate for your specific product. This is usually around 10-20%.For digital products, the minimum is around 50%. You can also offer commission on the upsells.
You can also choose a 100% commission rate. This is done when your main goal is to just get traffic to your site or get people into your sales funnel – i.e collect emails and data.
You may also want to set up special perks for super affiliates. These can include higher commissions, unique landing pages, extra bonuses or exclusive discounts.
Another way to make your program attractive is to create marketing materials for your affiliates. This can include things like Banner ads, autoresponder emails, reviews, articles, videos etc.
The goal is to make it as easy as possible for affiliates to promote your products.
Step 3: Promote your affiliate program.
Once you have set up your Affiliate Program the next step is to Promote!
You need to broadcast your awesome affiliate offer so you attract affiliates. You need to get yourself in front of potential affiliate partners.
One advantage of using 3rd Party Platforms like JVZoo.com is that affiliates can find you very easily. However, you should also look to advertise your program on your site or list it on affiliate directories such as affiliatedirectory.com – you can use Google to find other directories.
Another option is to guest blog on affiliate blogging websites.
Furthermore, you can advertise on Facebook & Twitter pages/groups, specifically those aimed at affiliate marketers.
Try to recruit super affiliates into your program. These affiliates are not usually found on the normal affiliate websites. Super affiliates have a huge list of eager buyers and are a great asset to recruit. These are the guys and gals that can get you a large number of sales, with active blogs and large social media followers.
One option is to Google to see which affiliates are winning affiliate competitions within your niche and then target the high performers.
You should look to approach these individuals personally and give them reasons to promote your product. Be sure to give them access to your product and giver them higher commissions and other perks.
Step 4: Motivate your Affiliates
If you wanna make sure your affiliates are promoting then you have to consistently motivate them. The first thing to do is get them on a mailing list so you can touch base with them regularly. It also helps to keep you in the forefront, so you are constantly high on their priority list. Keep them excited about promoting your stuff.
The second thing you can do is be sure your offer converts well. No affiliates want to spend time and energy on a product that does not sell. In fact, this is probably the biggest motivator. If your affiliates make money everytime they promote your product, they will keep promoting!
Offer incentives to promote often – e.g cash bonuses. You can create reward packages for those that sell 50 units, 100 units, 200 units etc. There is also the option of running affiliate competitions, be sure to offer great prizes to attract and retain your best affiliates.
Encourage your affiliates. Send them news and other relevant information about your product or the affiliate program. You can use newsletters to highlight the best performers and encourage other affiliates to replicate the top performers.
Set Up an Affiliate Program Final Words:
So that’s how you can set up a successful affiliate program. Once it gets up and running, it can really take a life of its own. You’ll attract more affiliates week on week and increase sales and visitor count without really doing much, thereby reaping the full rewards of having an Affiliate Program.