Affiliate marketing is composed of three components. Publisher (who promotes the product), an advertiser (the merchant) and an affiliate network (facilitator or processor of action). It is a serious field of marketing and is a part of every multinational’s marketing strategy. The publisher can have a passive and constant income in long run. The initial phase is tough but once established he can reap his rewards. This industry is growing at the rate of approximately 2 percent annually.
Discussed here are some important features of a successful affiliate program.
- Web page optimization
Advertisers should make sure that they always optimize their website for a better look, uploading, and content. They should have a good website which gives high conversion rates. They should look for the things that are unpleasant and killing conversions like few payment options, slow page loading, and too many steps in buy process, ambiguous written content etc.
- Attracting publishers
Commission model should be attractive so as to draw more publishers to join the program. The publishers can be attracted by an increased commission, bonus scheme, customer discount code or other incentives during the initial stage of operation. There can be promotional activities on certain occasion.
Affiliates are paid on cost-per-acquisition or cost-per-lead basis in most cases. There can also be the effective cost per click and referred visitor commission.
When paying commission the advertiser should think of the commission offered by his competitors. They can talk to affiliate network about it. On the other hand, they should also think if the new client is worth the commission he is being paid.
- Updated promotional material
Promotional material that is offered should be available in different sizes and should be updated regularly. Email templates should be added when used by email publishing partner.
Offering affiliates a product feed is important as they can display the entire product range on their websites. The publisher should be updated on prices, availability of offer and other necessary information so that they display latest and correct information on their website.
- Generating new partners
Regular and continuous recruitment of new partners is very important. This can be done by an employee of the affiliate network, advertiser, or through online publication on website pages of networker or advertiser.
- Frequent communication with affiliates or networker
The advertiser should spend time on communication with the network and affiliate. The advertiser should have transparent, clear and open communication with the network and the affiliate. Promotions in the web-shop should be informed to publishers. Face to face meeting should be arranged with the publisher and network so that they know each other and try to find out what they can do for each other.
The commission is the bread and butter of the affiliate. The advertiser ought to maintain a short sale approval period. He should see to it that partners should be paid as early as possible. This motivates the affiliate to work harder and spend a longer period of his time promoting the products.
The advertiser can give more incentives to better-performing affiliates. Or he can provide a bonus to those affiliates who cross certain pre-set goals or targets. Incentives make affiliate run more rapidly for your program and work with the advertiser to reach the target as early as possible.