Find out the answers to the ten most common questions about managing affiliate marketing
1. Is Affiliate Marketing Right For My Business?
Affiliate marketing is one of the most powerful and effective ways to acquire new customers, regardless of your product or service. Affiliate marketing draws your business to new customers and can free you from the shackles of marketing. In addition, when you start an affiliate marketing campaign, you are in control. You can determine the commission rate to be paid and only pay when the member makes a sale. This is a loss-free operation for you as you only pay when you make a sale.
2. What are the start-up costs?
When starting the membership plan, you can choose to run the operation yourself or manage it through the member network. The cost of both options is reasonable, usually around a few hundred dollars. Additionally, as a business owner, you should remember that many of your expenses are tax-deductible. To start an affiliate marketing plan internally, the costs include:
Member management software
Marketing support for members, including a website to answer member questions and ways to contact you if there are any questions.
Membership marketing materials, including banner ads, copies, coupons, and promotional content.
Affiliate Marketing Contract Agreement
Tracking software, used to track cookies, click-through rates, payment methods, etc.
If you choose to hire a network of members to handle your plan, you will usually be charged a flat fee or a percentage of the monthly amount you pay.
3. How much time will my working day / working week take?
Most experts agree that it takes about an hour and a half each day to manage your membership plan. They also recommend that you allow more time in the first few months of your plan, about two to three hours a day. Even the most efficient membership manager spends about 45 minutes a day managing their membership plan.
Professional affiliate managers usually spend an average of 40-80 hours per month managing, tracking and promoting your affiliate program.
4. Do I have to use the membership network?
Do you have an extra 3 hours per day for the next two to three months? After the first three months of the course have been completed, have you devoted an hour a day to management procedures? While affiliate networks may be more expensive at first, they can help you devote your time to other profitable tasks. In addition, the membership network can help you publicize your membership plan to a variety of experienced members, which means you make more profit and, in general, your exposure rate is higher.
That said, there are many effective in-house solutions, including some that you may already be familiar with, such as 1shoppingcart.com and affiliatepro.com. These plans help you have 100% control over your membership plan and manage your plan effectively.
5. How do I pay the contribution? Which committee is the most effective?
This is a very important decision as it will not only affect your profit, but the right commission percentage will also help you recruit top-notch members. The general rule of thumb is to set the default commission rate to a price you can afford, while leaving time for limited commission increases, promotions, and private offers. For example, if you have the option to pay 50% of the gross profit, you can instead pay 25% of the gross profit and rate it so that after reaching the sales target, they can earn 30%, or you can make the gross profit. profit during holidays or vacations. Increase up to 50%, usually a shorter sale time.
6. How to recruit members?
Your customers may be your best members. After all, they already appreciate and appreciate your product or service. A simple link on your website is a good starting point. Here are a few ways to find quality members:
Online forum. These are great places to meet, greet, and connect with like-minded people. They are also great resources for members interested, motivated and qualified to sell your products and services. You can announce your membership plan using the forum. Be careful not to “sell” on forums, as most forums look down on this and may rip you off. In addition, you can include a link to your membership website in your signature.
Find websites linking to your competitors and contact them to become your member. Likewise, you can use your favorite search engine to find members and contact them to join your plan.
The last method is to join the membership network or the list in the member list.
however it should be noted.
7. What is the best way to communicate with my affiliates?
Email is the general tool of choice, which makes an auto responder a fantastic tool for basic emails like the welcome email, introducing promotions, coupons, sending links and banner ads, and answering Frequently Asked Questions. It is also generally advisable to have an email address, fax number, and telephone number available for when affiliates have questions that are not answered by your frequently asked questions web page or when they simply want to speak with you.
8. How do I motivate affiliates?
Money motivates no doubt about it. That being said, affiliates are also motivated by feeling that they’re important to you. This means when they ask for your time, you give it. Additionally, promotions, bonuses, prizes, contests, and commission increases are all tools to motivate and inspire affiliates. Constant communication, like sending a weekly or monthly Ezine, will also help remind your affiliates that you’re out there and invested in their success.
9. Do I need to hire an affiliate manager?
The answer to this question really depends on your needs. How large is your company? Do you have the time to manage your program? Do you have the skills to manage your program? An affiliate manager is the person that:
Communicates with affiliates
Develops, tracks, and reports on promotions
Develops programs to enhance affiliate program
Tracks sales and pays affiliates
Monitors your competition
These are all extremely important functions and if you have the time to handle them yourself, excellent! If you do not, then consider hiring an affiliate manager.
10. How do I find / hire an affiliate manager?
Outsourcing an affiliate manager is fairly easy to do. There are hundreds available with a quick online search. You can ask associates, inquire at online forums, or post an advertisement seeking someone to fill the position. Depending on the complexity of your affiliate program, you could consider a well qualified virtual assistant for the job. The skills your affiliate manager will need are: