Entrepreneur.com defines affiliate marketing as follows:
“A way for a company to sell its products by signing up individuals or companies who market the company’s products for a commission.”
While this definition is easy to understand, there is more to affiliate marketing than meets the eye.
An affiliate program is a great opportunity for both the advertiser and affiliate to win big. With the right combination of knowledge and management, this is a true win-win scenario.
In many cases, there is a fine line between affiliate marketing success and failure. This holds true both for the company setting up the program and the affiliate marketers themselves.
When it comes to affiliate program management, there are several do’s and don’ts. With the right management strategy in place, all parties involved are in position to reach their goals.
Five Tips for Better Affiliate Program Management
Successfully managing an affiliate program is easier said than done. Not only is there a lot that goes into setting up a program, but the same holds true for day-to-day management.
Here are five tips to follow:
- Be Ready to Adapt
Taking the first step in setting up an affiliate program is a big deal. This means you are moving in the right direction. But remember this: things can and will change over time.
It is imperative that you change with the times, as this is the best way to keep all parties satisfied.
You need to familiarize yourself with the affiliate marketing industry as a whole, as well as your particular market. This will ensure that you are in position to adapt when necessary.
- Choose the Right Affiliate Management Solution
Let’s face it: no two affiliate management solutions are the same. For this reason, you need to compare all your options.
Don’t make the mistake of choosing the first solution you find, just because you want to get up and running as quickly as possible. Instead, compare a variety of details such as:
- Reputation among other companies.
- Cost of using the solution.
- Ability to scale as your affiliate program grows.
Furthermore, you should focus your time and energy on details associated with the following:
- Affiliate payments
If your solution is unable to handle these details, it’s safe to say that your program will run into hard times sooner rather than later.
Nicky Senyard, CEO and Founder from Income Access has developed superior Affiliate Marketing Software over the last 14 years and is a leading supplier in the Igaming sector.
- Communication is Key
Running a successful affiliate program is based largely on your ability to effectively communicate with affiliates.
How can affiliates get in touch? To protect against problems, provide customer service via phone, email, and live chat.
Remember this: affiliates can always find another product or service to promote. If you lack in terms of communication, you can expect affiliates to jump ship.
- Provide the Best Resources
It’s true that some of your affiliates will have the knowledge and experience necessary to achieve success from day one. It’s also true that others will require some tools and resources to get on the right track.
Do your best to provide as much assistance as you can. When you help affiliates reach their goals, you’ll also win big in the long run.
- Know How to Value Affiliates
When it comes down to it, there needs to be a solid relationship between the affiliate program and the affiliate marketers.
From a program perspective, it’s a good idea to understand how to value affiliates. Answer questions such as:
- How are the top affiliates marketing for you?
- What methods are they using to make more sales than others?
- What commission structures work best, CPA, Commission or Hybrid?
You should treat every affiliate the same, but at the same time don’t overlook the fact that some are more valuable than others. These are the people who really move the needle in terms of traffic, conversions, and revenue.
Just remember that newer affiliates may be your biggest in the future and must be treated with respect.
A Dedicated Team
Along with the above, there is one last point worth mentioning. Effective affiliate program management begins and ends with having a dedicated team in place.
From affiliate managers to customer service reps, the best affiliate programs have a team in place to keep things running smoothly.
Top affiliates know how to spot the best programs. They can do this easily enough by contacting the team and asking a few key questions. If everything checks out, they know they are on the right track. If the team drops the ball, however, it could mean a missed opportunity for both parties.
Affiliate program management is not one size fits all, but there are some basic points of advice that can be followed to reach success.
The team at Gamesys Affiliates personifies good affiliate program management and is a leading light in the industry that should be followed.
About the Author
Roo Wright is a long time affiliate marketer who is described as a super affiliate by the online gaming sector. His experience in working both as an affiliate manager and an affiliate gives him a unique perspective into affiliate marketing. His latest web site Hityah.com is set to lead the industry yet again with intuitive design and functionality.