In the growing world of affiliate marketing, there are an abundance of myths surrounding it.
More and more people make the switch to become an affiliate, believing that promoting someone’s products and services for a commission is the easiest way to earn money.
The fact is that only a few are able to survive in this fiercely competitive industry. In the same manner, merchants think and believe that by running an affiliate marketing program software and hiring affiliates, their business sales will skyrocket.
Just like any facet of marketing, this is most likely to be the case provided you’re willing to put in the right effort.
As a merchant, it is important to understand that not all of your one-thousand affiliates will drive major sales. There are only a few gems in a standard affiliate team that contribute to almost 90% of the sales.
Here are the top 4 ways of managing all your affiliates in a manner that boosts productivity and sales:
1. Work On the Affiliate-Merchant Relationship
When you make the effort to know your affiliates on an individual level, know that you are working towards fortifying your relationship with each one.
Businesses that build strong relationships with its employees (affiliates, in this case) are likely to reap its benefits for years to come. Instead of looking at them as costs, look at them as valuable assets and business partners that are your success drivers.
Go an extra mile and give out suggestions regarding traffic generation and capitalizing on the strong points instead of emphasizing on the sales volume per employee. Hiring an experienced, friendly and forthcoming affiliate manager will certainly help.
2. Information and Strategies
Unfortunately, majority of the affiliates joining in don’t know much about digital marketing and how it can help generate traffic to websites/blogs.
This is where you can effectively play your role. Provide your affiliates with valuable content. Inform them about the multiple aspects of traffic generation and how they can be used in the optimum manner.
3. Send them Deals/Promotions
Not many merchants understand this. However, affiliates love promoting discounted deals; much more than regular products and services.
Make it a point to roll out various promotional deals regularly so that they have something fresh and new to promote via website/blogs. Moreover, you can also arrange for dedicated coupon codes for requesting affiliates. Affiliates are motivated about the fact that a special deal has been arranged for them. In return, they work harder to promote your business.
4. Extrinsic Motivation for Affiliates
Execute a monthly plan to motivate your affiliates. Provide them with performance bonuses, hold competitions, or raise their commissions for a set period of time to boost sales. Not only will this kick off your program, but will keep affiliates happy and on-the-go. Yes, we know it all sounds a little too gimmicky, but trust us, it works!
At LeadDyno, we help you recruit affiliates for your affiliate marketing and link tracking software, while providing them with trainings on how the best affiliate marketing program can be managed. Call us at +1 888 340 6425 to get in touch.