Thanks to a 100% controlled ROI, affiliate marketing is particularly appreciated by advertisers. If you are an independent agency or consultant in digital marketing, offering this service to your customers can help you to develop their ROI. If you, yourself, are looking for new opportunities to grow your business, membership can be a great solution.
REMINDER: DEFINITION OF AFFILIATE MARKETING
Affiliate marketing, or performance marketing , is a system of exchange between advertisers who wish to promote their offers and affiliates with an audience (website, emailing database, social networks …) and promoting advertisers in exchange for a commission for all the leads brought in.
1: BUILD A GOOD AFFILIATE PLATFORM
In order to manage the campaigns effectively, it is essential to choose your affiliate platform. This is the tool that will serve you to create your campaigns or those of your customers, manage affiliates (selection, compensation …), make available to them the promotional elements (banner, mailing kit …), and of course, track all the conversions in order to compensate the affiliates accordingly.
When you choose a tool/platform that you believe works for you, make sure that these features are offered by the one you select:
- It has a dashboard and reports to effectively track campaign performance.
- It has a clear interface for affiliates to easily find line items and track their results.
- In order to satisfy a maximum number of affiliates, the platform must offer several compensation systems (lead, of course, but also CPM or CPC).
- Make sure it has a billing system that had integration features in order to easily pay the different affiliates.
- And if you are an agency, it is very important to check the number of programs you can create. Some platforms may seem advantageous from a tax point of view for a program but much less when several are managed.
2: CHOOSE AN ATTRACTIVE COMPENSATION FOR BOTH PARTIES
The affiliate compensation strategy is one of the key success elements of a campaign. If the pay is too low, you will not be able to lure in the affiliates. Conversely, if it is too high, the ROI will be affected.
Before proposing a compensation, make a benchmark of affiliate programs in your theme to see what the competition offers. The goal, for a new program is get more affiliates.
Also think about pay in stages. With this system, you will be able to lure the biggest affiliates by proposing a compensation that increases according to the volume brought in.
3: SET UP PROCESSES FOR CHECKING THE QUALITY OF LEADS
Another important point: check the quality of the leads you bring . Have a strict follow-up, it will allow you to filter the non-qualitative leads so as not to pay them and to identify the affiliates bringing the most qualitative leads in order to offer them a bonus pay system and motivate them to provide you with more visibility and volume.
4: PROMOTE THE PROGRAM TO RECRUIT AFFILIATES
Even after the launch phase of the program, do not rest on your laurels, continue to promote the program continuously. Regularly approach new affiliates to offer them your program or those of your clients if you are an agency.
5: IDENTIFY AND RETAIN THE BEST AFFILIATES
As we saw in point 3, it is important to identify the best affiliates:
- Those who bring a large volume of leads;
- Those who bring more qualified leads than the average;
- Or those with a network that can improve your brand or those of your customers.
Once these “top affiliates” have been identified, take the time to communicate with them in order to gather their feedbacks and propose appropriate solutions.
And concurrently, think about having a regular communication (once a month) with all your affiliates, via a dedicated newsletter for example.