The promotional activities of your affiliate marketing team can significantly affect the traffic numbers, sales margins and net profits of your business. For example, if you don’t have the right vetting processes and pre-qualification requirements for accepting co-marketing partners, then you could end up with bad actors in your affiliate network. These are groups that use unethical marketing tactics like spamming, and also criminal syndicates that just want to use your affiliate system to cash out stolen financial accounts and run away with commission payouts.
Now the former can generate lots of trouble for your brand across your target audiences and niche markets. You’ll lose the trust and confidence of your target customers and ideal prospects. This can often lead to irreversible damages to your business. Meanwhile, the latter can also do this. But aside from those negative effects, you can lose your merchant account, leaving you without any option to accept payments from your customers through your digital properties. This can also rack up huge fees and penalties for excessive chargebacks and refund requests. That’s because sooner or later, the legitimate owners of those stolen financial accounts will contact their banks and providers to report unauthorized transactions.
But even if you have effective vetting processes and pre-qualification systems for your affiliate network, you can still optimize the results of your co-marketing campaigns. This starts out by targeting the right affiliates for your network. Simply put, you should choose co-marketing partners with the most suitable traffic for each of your offers. Plus, you can target affiliates who are competing in verticals with hungry audiences that are likely to find good value from your products and service offers. This can enable you to tap undiscovered segments of your target niche markets, which can often provide you with much less competitiveness.
You should also entice your affiliate marketing team to be more inspired and motivated when creating and performing promotional activities for your offers this year. This involves the formulation and execution of strategic tactics and persuasive content development techniques. To help you out — Found below are some tips that can allow you to generate actionable ideas to achieve this.
Quick & Easy Tips to Strategically Compel Your Affiliate Marketing Team to Do a Much Better Job for Your Offers This Year:
- Offer a fair and reasonable starting commission for new affiliates. Make it more irresistible than commission percentages from your competitors. After all, lowballing your co-marketing partners isn’t ever a sound business move, anywhere.
- Entice them with bigger commissions when their referral sales hit a certain threshold within every 30-day period or a particular time frame. For example, you can offer 40% commissions for new and old time affiliates, but if their sales go beyond $300 within a 30-day period, then inform them that they’ll earn 50% commissions for each sale, instead of 40%. However, you should obviously do some careful math before you do this, since you obviously wouldn’t want to end up neutralizing your net profit margins.
- Provide your affiliate marketing team with an updated database of helpful resource materials. These can include fresh industry reports and current market research data for niches and industries that are highly relevant to your ideal co-marketing partners. This can entice them to improve their campaigns, especially since much of the necessary research work has already been done for them.
- Offer a simple and easy to use platform for monitoring their commission payouts and campaign results. This platform should also allow them to conveniently download optimized materials that they can use for their promotional activities. You should also integrate convenient communication tools, in order to make it easier for them to contact your support representatives and other agents.
- Also provide them with straightforward ways to earn from referring affiliates that pass your vetting systems and pre-qualification processes. Remember, most affiliates regularly participate in relevant discussions with like-minded individuals and groups, many of whom are also running affiliate marketing businesses. This can allow you to grow your affiliate network much faster and at lower costs.
- Ensure that your customer and tech support systems are strategically designed to provide your affiliate marketing team with world-class services. Keep in mind, many affiliates are knowledgeable in sales and marketing, but significant numbers of them aren’t as tech savvy as veteran developers. So assisting them in using your platform, generating their affiliate URLs and integrating your materials into their Web properties and apps can effectively motivate them to do a much better job when promoting your products to their subscribers and viewers. Besides, this can also quickly jumpstart their promotional activities for your offers.
- Use effective CRM (customer relationship management) concepts for growing and managing your affiliate network. This means you should track and study the activities of your ideal co-marketing prospects when they land on your affiliate sign-up content materials. This also involves doing the same things for your new and long time affiliates while they’re engaging with your platform, affiliate-only content, resource materials, customer and tech support teams. This can allow you to pinpoint areas where there might be significant room for improvement. You should also focus on the response and activities of your prospects when they’re viewing your off-site content materials. Plus, don’t forget to observe the relevant activities of returning prospects as they again view your affiliate sign-up content.
Keep these tips in mind, and you won’t only be able to motivate your existing affiliates to consistently drive more highly convertible traffic from their digital properties to your offers, but you can also grow and nurture your affiliate marketing team more effectively while incurring much lower expenses. Moreover, you’ll be able to generate more viral marketing traffic for your affiliate sign-up content materials when you do this. That’s because word can quickly spread across relevant affiliate acquisition channels and platforms when you do a good job at managing and working with your ideal co-marketing partners.