How to attract, retain and grow your affiliates
After putting together the series of tips about analyzing campaign ROI and fighting black hat tactics, we are moving forward into how to attract, retain and grow affiliates for your network. Here we outline practical steps you can take to get started, plus we summarize some most important aspects already covered so far.
Basic types of partnership programs
Basically, an affiliate program helps digital advertisers to balance the relationships between their affiliates. Define your goals to understand what affiliate program you need to achieve, create or join.
Affiliate program - partners attract additional customers and earn from it. When you decided to optimize your program, focus on the quality of the traffic that your affiliate is sending to you, and on the conversion rate of your offer.
Referral program - partners recommend a product and get an intangible reward. Referral programs are based on recommendations. Enforcing a referral program can optimize your ROI, sales cycle, and maximize your sales funnel, although it is a passive way of earning. Publishers set an ad on the application and waits for engaging users.
CPA (Cost Per Action or Cost Per Acquisition) - a partner’s reward is calculated on the basis that the client performs a specific action (registration, payment, level achievement in the game). The biggest CPA benefit is that you pay only for a measurable result.
Traffic arbitration - buying traffic in one place and reselling it in another.
Taking new affiliates aboard
Affiliate networking is an effective channel where you can use a visibility of your product and raise your revenue. As a vendor, one of the most useful thing for your business is to find good affiliate marketers to promote your product or service. Take a look at some benefits from the work with affiliates. One of the advantages from affiliate network is that you pay a commission only for a result you want to have. A successful affiliate marketing program is based on planning, strategy, management and careful planning.
Choosing the right affiliates is the best option of affiliate marketing program success. Robert Glazer, a columnist and author of Performance Partnerships, explains that searching of affiliates is a long-lasting process. You should always be on the look for qualified affiliates. “The recruiting and activation phase is the lifeblood of your program, but it takes time and specializes talent, relationships, and tools.”
There are thousands of retailers that work with an affiliate marketing program. Cooperation with retaining affiliates is just like retaining customers. Instead of looking for new leads, it’s easier and more effective to retain affiliates and get more out of them. Motivate them to continue to work with you.
The most effective way to motivate your affiliates honestly is to improve communication. Like any relationships, the dialog is very effective. Let them know that you are available during the week. Hold monthly calls with your top affiliates, discuss how the ad campaign is going and what help they may need. If calls are not convenient, let them email, message or otherwise contact you with questions and suggestions. Communication helps to be better equipped to promote your products or services to the right audience.
Here is some advice — money talks. Increasing commissions is the easiest way to keep your relationships good, despite it will cost you more cash. Take a look at your current commission rates versus your income and see if there is any space to increase. For example, Amazon has a difference in the interest payment, affiliates get the higher payment if they sold more certain products.
It’s always great to feel yourself a part of something classy. It can be a good motivation for you and your affiliates, make them feel proud to be associated with your brand. Co-brand pushes can play an important role. You can provide an exclusive discount or place a logo of your affiliate’s page.
This type of relationships is the funniest among sales departments across the world. Gamification creates a healthy competition, where your affiliates will work on a bonus system for a higher commission rate. For example, four weeks with 60% of any action from users.
In truth retaining affiliate is easy, but retention itself will not help you if your affiliate isn’t active. Usually, the index of affiliate activation varies from 10% to 15%. Good marketing plan will help to hit it off and improve partnership with your affiliates.
Growing affiliate partnership
Why affiliate marketing is so cool
Affiliate marketing is based on the fact that you let other people promote your product or service and send your website traffic. In return, you pay them a percentage of sales that are made from their efforts. Affiliate programs are mainly based on the CPA (cost per action / acquisition) model in its different variations. Target actions here can be shown, buy, download, lead, etc. The affiliate marketing platforms allow companies to connect directly with the publishers to drive sales.
Benefits from affiliate partnership
- With the help of partners, you can attract target customers to the site at no additional cost, which will increase resource traffic and business profitability.
- Reduce the timing of the promotion of the project. In this case, visitors will come to your resource even when you are offline.
- Promotional expenses arise only after the required result has been obtained (remuneration to partners is paid only to the fact of performing the actions stipulated by the terms of the affiliate program).
- An opportunity to grow through affiliate partnership. You can grow your audience and raise up your brand credibility.
Creating a successful affiliate partnership
It is hard to do a successful business, you have to work hard yet smart. Participate in industry events wherever online or personally. It can provide you with certain partnership-related benefits. There you can meet influencers in your industry, i.e. people who can be interested in the partnership, or you can meet program managers who are looking for partners and affiliates too. Stay tuned for innovations and involve them in your business.
When you are searching for an affiliate program, use lists or huge affiliate networks where you can find an affiliate program for any topic. Setting up strong partnership should be a front life of your strategy to grow your business.
Lots of sales and affiliates to you!
While we work with pretty much all app categories