How to manage your affiliate program for maximum results
Before I dive into today’s topic regarding an affiliate program, I wanted to define the term “affiliate.” An affiliate is a person or company that agrees to promote you, your program, or product in exchange for a commission on each sale.
Have you run an affiliate program and been disappointed by the lack of sales it produced?
Have you thought about offering an affiliate program, but aren’t sure how to put a program together?
Affiliate partnerships are one of the most powerful ways to boost sales of a program or product. When they work smoothly, they are effective and can bring in even more revenue to your program.
Today, I am sharing strategies, in three main areas, for managing an affiliate program for maximum results.
# 1 Commission Rate
The rate you offer your affiliates will vary depending on the price tag on the program you are selling. You will want to offer a different rate for a program that is $97 than a program that is $997. A good rule of thumb is to set a commission rate that will motivate your affiliates to take action. What is the amount that will motivate them to carve out time to send an email or post on social media?
While you may feel you are losing money, the truth is that people who come to you from affiliates never would have known about you otherwise. Think of the revenue you generate from affiliate sales as icing on the cake.
#2 Recruiting Affiliates
You want your affiliate program to be a part of your marketing plan.
This means starting to reach out to potential affiliates at least a month before you start promotion. Brainstorm a list of people you know or admire who have a similar audience but offer something complimentary to you. Then, reach out to them on social media or via email to talk about how you can support each other.
HOT TIP: Start the email or conversation by discussing how you can promote THEM.
#3 Make it Easy for Affiliates
Your affiliates are busy, just like you and me. Make it super easy for affiliates to promote your program. You can make it easy for them by…
- Making all of your communication extremely clear and succinct.
- Providing them with pre-written emails and social media posts they can simply copy and paste.
- Inserting their unique affiliate URL into the pre-written copy you provide.
- Sending them reminders along the way.
Your Action Step: Make a list of ten potential affiliates you can reach out to. Even if you are months away from offering an affiliate program, start to get the juices flowing. Now, start to form a relationship with these potential affiliates by posting comments on their blogs, commenting on Facebook, re-tweeting their posts.
Are you launching a Cleanse or Detox in the next few months?
Read Related Articles: