6 Tips for Accelerating Affiliate Revenue – By Cristian Miculi

by Colleen on August 9, 2013

You’ve decided to start promoting your products or services through the affiliate channel. As you’ve probably guessed, this won’t be as easy as pressing a button and saying, “Wow! My affiliates are generating millions of dollars in sales monthly.” ff23

From a financial perspective, a new affiliate program needs a certain amount of ramp-up time to achieve profitability and justify use of the affiliate channel.

Ramp-up time varies from merchant to merchant. It might take anywhere from a couple of weeks to months.

To accelerate your ramp-up time and generate affiliate profits faster, here are some performance-boosting approaches you should explore:

1. Create a competitive offer for your affiliate niche. The 2012 AffStat Report (affstat.com/2012-report) revealed that the top factors affiliates consider when choosing advertisers are commission, merchant reputation, brand awareness and tracking platform.

Keep these motivators in mind when crafting your affiliate program, and be aware of what your competitors offer in each area. Compensate for any weakness in one area (such as lower brand awareness than Competitor X) by stepping up in another area (providing higher commission rates than Competitor X, for example).

2. Join an affiliate network that specializes in your niche. Specialty networks with the right mix of affiliates will jumpstart your sales faster than generic affiliate networks.

Search for specialized networks online and check out reviews of both affiliates and merchants. Explore the platforms your competitors use for their affiliate programs – this will give you some great ideas for getting started.

3. Recruit affiliates through an agency or network. Assistance that provides a positive ROI (return on investment) in the long run is well worth paying for.

Affiliates are your long-term partners, so when calculating agency ROI, remember that affiliates will continue promoting your products and services even after an agency relationship has ended. When selecting an agency or network, look for stellar references from companies in your niche.

4. Give your affiliates the resources they need to stand out. Whether this means eye-catching banners, video testimonials or easy-to-use website widgets, infographics, compelling collateral helps affiliates sell more of your product. Great marketing resources will fuel your affiliates’ ability to influence buying decisions.

5. Use weekly incentives to motivate affiliates. Don’t settle for monthly incentives – weekly bonuses are much more enticing for affiliates.

Generally, performance bonuses are the best motivators, so offer higher payouts and cash bonuses to your top affiliates. If you’ve got the budget, you can offer smaller bonuses when affiliates generate their first sale, incentivizing them to work with you.

6. Localize content for international affiliates. See where your products and services have the highest sales potential and target affiliates from those countries with localized content, including website landing pages, testimonials, banners, and marketing messages.

This will go a long way toward building brand awareness and sales internationally.

Ultimately, accelerating the growth of your affiliate channel using these tactics will lead to long-term profits – provided you build your program on a solid foundation and work with reliable partners.

Cristian helps software vendors and affiliates grow their online sales in the Avangate Affiliate Network.

This article appeared in issue 23 of FeedFront Magazine, which was published in August 2013. Read issue 23 of FeedFront Magazine.

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