What is your experience with Affiliate marketing?
I'm currently talking to several companies, but they want me to have a 6 month contract etc, which is a large commitment when just starting out.
So far I'm not getitng any sales, so I was hoping affiliate marketing would help with that. I've already done adwords, bing ads, facebook ads etc
Try starting out with VigLink before going with a larger company that will require a contract. There's no contract with Viglink, and it's easy to set up.
Every other company I've worked with or spoken to (probably 10), have minimum monthly spends and 6-12 month contracts.
Agreed with alexa, I had a thing in my mind Unless your website already enjoys substantial high-quality traffic, you will not be considered by these affiliate programs, while some other programs have no such restrictions. Which I suggest you to add as first step affiliate programs, like Amazon has to approve your request, which could take some time, while SkimLinks, ClickBank, RevGlue lets you signup almost immediately through a very simple process. For a new Starter, You have to take proper training and techniques to achieve that numbers. In my opinion, RevGlue and SkimLinks are the Best Training platform to learn Affiliate Marketing. There are many Training programs but I personally love RevGlue because of its features and tools provided by them. Also, you have an option while your account was pending approval by these giant affiliate hubs, probably the chances are 60/40 they can approve your website. So in the meantime don't waste your traffic. RevGlue integrates with Skimlinks, which makes thing more easier to make your affiliate marketing startup a boom!! Thanks for sharing your experience.
Affiliate marketing is just like a problem solution.If you solve someone problem then they will buy your products so select this type of product.Just remember it.
Affiliate marketing is an online sales technique that allows a product owner to increase sales by permitting others targeting the same audience (“affiliates”) to receive a commission for recommending the product to others. At the same time, it allows the subsidiary to make money by selling products without creating its own.The great advantage of affiliate marketing is that you can do it on a large scale. A typical retailer only sells products from one company. As an affiliate marketer, you can promote products from many different companies and earn commissions from everyone.
Affiliate marketing is less risky. Since there are no costs involved in the process, you can start making money with products or services that are completely free from any advance investment.
Some affiliate marketing platforms are
1.ShareASale: ShareASale is the most popular partner network out there. While Amazon affiliates focus entirely on Amazon products, ShareASale includes programs for merchants, large and small. In one place the ShareASale dashboard you can log in to all of these merchants, generate links and view your statistics. Note that you will need to sign up separately for merchants and approve each merchant this is a standard approach for this affiliate network
2. Amazon Associates: Amazon associates allow you to promote the physical product on your website. Amazon Associates offers you to earn a high commission rate on every product you sell.
3.ClickBank: ClickBank offers you a lot of digital products and physical products as well. Some Clickbank products are not of the highest quality and while ClickBank has improved through its review process to filter out bad merchants, you still need to be careful about which merchants you choose to promote.
Affiliate marketing is a performance-based marketing strategy in which a business rewards affiliates for each successful purchase from a customer brought by the affiliates' own marketing efforts.
There are three sides of an actual affiliate equation: Product seller (merchant), Affiliate and Customer. Both merchant and affiliate benefit from the idea of sharing revenue. The merchant offer the affiliate a win-win relationship when the merchant can increase sales while the affiliate gets the reward in form of commission. This method is saver and no risky. Because you only need to pay commission for your affiliates whenever they bring sales for you.
How to success with affiliate marketing? Here is a real story: Armin Reischer: How we monitor all affiliates and boost our sales – Blog Uppromote
Here are some benefits of affiliate marketing:
1. Make extra income
The main advantage of affiliate marketing is that the income is entirely performance-based. This is because affiliates are only paid a commission when a purchase has taken place. That means if the affiliates have an ineffective campaign, it won’t affect your budget.
The affiliates understand that driving huge traffic of potential customers will help to increase sales conversion. For this reason, the affiliates will spend much effort to build effective social platforms, promotion or boosting posts of your products in a better way to attract customers. The more efficiently they work, the more commission they generate, and the more sales you earn.
Another instance, if you want to drive specific products which have low profit, you can use UpPromote: Affiliate Marketing to set the best special commission rule such as offering a higher commission rate for each specific product. That will create affiliate motivation to work harder.
2. Low investment but high cost effective
In fact, affiliate marketing does not need a huge amount to build a customer service team, or running advertising. This campaign helps to mitigate any risks that drive traffic or run social ads with little or no result for your Shopify business, while also ensuring that merchants achieve what they pay for.
In fact, whereas a poor marketing campaign that sends you low quality results will still need to be paid for, even if you make no sales. However, affiliate marketing ensures your marketing is cost effective and helps to reduce the risk of “leaking out” money for an uncertain market.
3. Promote business brand name
A research reported that 92% of customers trust the recommendations of people, companies or influencers they know.For this reason, working directly with affiliate marketers who then promote your products to their established audience, brings more opportunities and more direct sales. The plus of affiliate marketing is to expand out into new markets that you haven't explored, giving your brand a much stronger online presence.
Here are our recommendation to push your sales with affiliate marketing:
1. Offer a competitive commission
When setting the commission rules, make sure that it is compatible with your market (not too low or too high in comparison with your competitors). Set a number that can make you stand out but may not spend all your money on affiliate marketing. Consider your profit margin, marketing cost and product original price to calculate proper commission amount, just be sure not to be too greedy or too generous. A competitive commission will help affiliate work harder, and increase sales conversion.
You can setup your commission structure for each commission program. for example you can pay your affiliate percentage of sale, flat rate per order, or flat rate per item.
Via UpPromote: Affiliate Marketing, beside setting program commission, you can also set special commission rules for specific products that might be useful for promoting products with higher/lower price or higher/lower profit margins. Merchant can make use of this feature by offering a higher commission rate for the product you want to drive more sales.
2. Generate coupon code:
Offering a discount for customers seems to convert them more than if there is none available.
A lot of shoppers search for coupons to see if it's a chance they can save some money upon purchasing. Thus, assigning a coupon code for your affiliates can both bring benefits to the customers and help your members to convince the consumers to buy from them.
Moreover, a discount coupon can be easily shared and remembered, which is useful for social media promotion. Also, you can freely set a coupon rule, not limited by just percentage discount, it can be fixed amount discount, Free shipping, Buy X get Y,...
Plus, you have an option to assign multiple coupons for each affiliate, which helps them with numerous options to support your brand. Coupon code within UpPromote: Affiliate Marketing can be assigned manually or automatically.
Studies have shown that in sales positions, high performers are responsible for producing 67% more revenue than other average performers. That's why focusing on high-quality affiliates is so important to grow your affiliate campaign sustainably.
For those who have worked with you for a long time or shown their incredibly outstanding performance, through UpPromote: Affiliate Marketing you can consider offering them Lifetime commission so that the affiliate will get commissions for all future purchases of a customer who buys from the affiliate once. This tactic can make the affiliates to be closer members of your business, thus, they can see that they benefit from not only bringing new customers but also keeping that buyer loyal. Interestingly, loyal affiliates bring loyal customers.
5. Offer higher commission rate for outstanding affiliates
On the other hand, you can motivate your team by moving them to a different program once they reach a proper level (such as referring 1000 orders successfully). As affiliates sell more, they earn more. It is a simple but very effective way to encourage affiliates to promote your products or services.
A clear tier system will encourage the affiliate to drive more conversion to your brand, a tier model could look like this:
0 – 1000 referrals = 20% commission
1000– 2000 referrals = 25% commission
2000– 5000 referrals = 30% commission
5000+ referrals = 35% commission
You can use UpPromote: Affiliate Marketing to build your own auto-tier commission rule easily with three main types of conditions. Your affiliates will get automatically leveled up once their performances meet the level condition set, the conditions could be based on:
Total referral order value (total value of sales your affiliate refers successfully, only sales with approved commission are counted)
Total referral order number (total number of sales your affiliate refers successfully, only sales with approved commission are counted)
Total earned commission value (total value of approved commission your affiliate gets)
To set the conditions, go to Program tab on the left menu, click on Auto-tier commission:
Here are your recommendation. We hope these are useful for you. Good luck with your business!
All the bests,
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