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5 Steps to Good Management
Affiliate programs are an opportunity to get hundreds and even thousands of visitors from other web resources to your website and increase sales of your products several times. And the best part is that you don't pay for anything while others make traffic for you! You pay only for the results – the percentage of sales of goods. But at the same time, you should be realistic in assessing how the affiliate program works.
1. Develop Payment Strategy
The amount of commission for partners is a very important component for any member of your affiliate program, as it depends on how much money they can earn. It is important to decide on what scheme you will pay commissions – with payment for the action, for sales or for a click. Top members of affiliate programs have a limited number of places on their websites and in email newsletters, so if one affiliate program brings them $1.50 per 1000 visitors, and your only 25 cents – guess whose affiliate program they will choose?
2. Never forget about the product
A good product is the most important thing, so we will repeat several times that you should have a good product that brings real benefits to buyers and corresponds to the description and its characteristics in the selling text. This is especially true if you want to attract top partners.
3. Educate Your Affiliates and Attract Profiles
It is important to increase qualification of those middle-income partners you have but the most important thing is to attract to your affiliate program professional partners, for whom earnings on affiliate programs are the main income and the best of them earn tens or even hundred thousand rubles a month. Such first-class partners from the entire list of your partners can be only 1%, but even this 1% is able to raise the sales of your product several times. Professional partners are the owners of various email newsletters with tens of thousands of subscribers, or visited sites, or advertising experts who own a huge list of customers.
4. Think About Promotion Methods
Make your best to provide your partners with all the necessary tools and assistance to make them work successfully. This is extremely important. Most affiliate programs offer their partners only a few banners, but this is clearly not enough for full-fledged work.
5. Two Sides of Good Management – Look For the Golden Mean
Once you open an affiliate program, it is necessary to maintain and develop it - to communicate with partners, update promotional materials, to analyze the profitability, the relevance of the conditions of your affiliate program, analyze the competing affiliate programs. In other words, you should do comprehensive management and stay in the course of all things happening. But there is another extreme.
Attempts to seize total control over your partners. Leave your management skills to other tasks, you have to manage the affiliate program, not the partners. No need to spend time controlling what, how and where your partners write about your products, don't teach them how to work. Provide them with high-quality advertising materials, banners, articles, texts of letters for mailing, try different payment schemes (CPA, CPS), conduct promotions for partners and control the result (CTR, ECPM), not the process.