Affiliate marketing is competitive and requires undivided attention by managers.
Many companies fail when implementing an affiliate marketing program due to their own weaknesses. If you’re implementing affiliate program for the first time, make sure to avoid these mistakes:
Lack of Communication
Your marketing program is as good as your rapport with your affiliates.
Affiliates should be aware of your business, your plans, and what you expect of them. Until and unless you don’t communicate this to them, none of you will get the desired results. Also speak to them when their performance isn’t up to the standard and help them improve.
Losses are a part of every business. But looking for opportunities to cut down on commissions and placing the blame on your affiliates isn’t going to help! When you have cancelled orders and returns to deal with, make sure you investigate the issue instead of jumping to conclusion.
Find out if the losses are due to the affiliates or if there are glitches in your business that are causing losses. Take a decision only after you’ve examined the problem thoroughly.
Your affiliates have generated sales for you – make sure you pay them on time. Timely invoices are a big motivation for the affiliate network. They appreciate companies that pay on time and work with much more dedication to help generate more sales and revenues.
Inaccurate or delayed payments create a bad impression; you wouldn’t want to tarnish your reputation with your top affiliates who have played a major role in your success.
Not Implementing Affiliate Tracking Software
Not many businesses realize, but this is one reason your affiliate program is a flop! Affiliate tracking software helps in monitoring your affiliates, their performance and the revenues they’re generating. Thus, not working with the software will certainly cause the program to fail. The right affiliate tracking software will not only help you track your affiliates’ performance; but with features like social media integration, auto-payments, etc. you can manage your program easily – without hassle.
If you’re looking for software that offers affiliate tracking, social media sharing, easy one-click integrations and much more, get in touch with us. LeadDyno is one of the top affiliate programs that offers all these features!