This practice is certainly familiar with those being into earning money through social media sites-based marketing. Affiliate marketing is the powerful business model by nature for whoever has been using, whether an individual or companies of all sizes, for the purpose of levering and fulfilling the respective desired profits-related goals through expanding the reach, venturing in new markets, and attracting customers who may not be aware of your brands or offerings. At the first glance, “playing this game” seems to be hard for some reasons such as lots of players in the market, lack of perseverance and commitment, improper approach to the establishment of effective and profitable partnership. In fact, getting hold of the core of the affiliate program you’re going to implement and using right approach will help everything work out well. So, let’s briefly go through the main points of affiliate marketing program we need to take into consideration for obtaining the best results.
Involved parties in an affiliate marketing campaign
To put it simply, there are commonly three parties taking part in an affiliate marketing campaign, including the merchant, the affiliate and the customer.
The merchant is responsible for providing products or services, handling all the relevant logistics (subject to the agreement between the merchant and the affiliate), processing customer orders and payments, and performing the merchandise delivery.
The duties of the affiliate are bringing traffic to the merchant’s website or business or in other words, acquiring customers for the merchant, and collecting commissions for the leads the affiliate generated following agreed-upon visitor actions through an affiliate link.
The customer plays a decisive role in helping an affiliate campaign become successful. Truth be told, he/she is the one making final decision on whether the products or services are worth buying or repeat purchase.
Right approach to an outstandingly successful affiliate deal
Here-today-gone-tomorrow type of business is the thing whichever companies always want to avoid at all costs. So, knowing how to keep away from it is the key to winning the game. Upon carrying out any affiliate program, you’ll have to bear in your mind that “You don’t find customers for your products. You find products for your customers.” That is the viewpoint of author and entrepreneur Seth Godin presented on his blog. Much caring given to what items you offer is the basis for customer attention and retention.
The extensive existence of your products or services on as many sites as possible doesn’t mean well promoting and gaining more profits. Therefore, locating the right affiliates, large or small-sized, to deliver conversion (i.e. sales or leads) is much more important, with the motto of Quality over Quantity. The establishment and fostering of potential, trustworthy affiliate partnership are a strategic plan for acquiring high-value customers making purchases repeatedly. Accordingly, appropriate commission policy for the affiliate is applied, resulting in the affiliate’s commitment, and win-win agreement for both the merchant and the affiliate.