While running an affiliate program is an easy process, it requires commitment and hard work to be successful. While affiliate marketing is a great way to earn a passive income, it does require affiliates to produce quality content and create promotions that bring in sales.
1. Too low affiliate commission
Usually, choosing the reward itself is an easy decision – cash is king. Some ecommerce brands may be able to get away with commissions paid in store credit, but most of the time, a cash payment is still the most enticing reward.
Next, weigh percentage commissions vs. flat rate commissions. Do you want your commission rate to be a percentage of each sale an affiliate helps you make, or a set dollar amount for each sale?
This is the first real step in determining your commission rate. Percentage commissions are most common in affiliate programs, and the average affiliate commission is between 5–30%. But remember THE HIGHER, THE BETTER !
You need motivated affiliates to promote your product. Their only motivation is to make money. So give them what they want and don’t be stingy. Do you think earning 1.-USD per day is a good incentive ? Or 20.-USD is better ? What would YOU choose ? You have to make a Win-Win situation.
2. Forget to promote your program
To grow an affiliate program it is necessary to promote it. There are various ways of promoting the program. On the store’s end, you can add the affiliate portal’s link in the menu or the footer.
Other than this, you can promote the program on your store’s social media handles, reach out to existing customers through email marketing (offer your existing customers to become your ambassadors) or even connect with influencers to collaborate with them. There are endless possibilities on social media.
3. Avoid promoting a lot of products
Many affiliates are making the mistake of promoting too many products. It can hinder the quality of the content, and it also consumes more time. Promoting too many products or products in various categories can also contribute to issues of credibility for affiliates.
Affiliates should pick a niche that they are enthusiastic and knowledgeable about and focus on it. Also, instead of marketing a whole host of products, they should focus on a handful of decent products.
4. Forget to provide sales support
Affiliates often make the mistake of trying to sell through the content they produce. Rather than focusing on selling a product, affiliates should create content that helps or guides customers. Affiliates can use the tried and tested formats for content such as best-of or top 5 guides to products. While they are age-old formats, they still bring in customers.
So I suggest you provide your affiliates with JPG GIF PDF… sales pitch, email swipes, strategies to capture their audience and increase their chance to convert them into customers.
Good and quality content is essential to become a successful affiliate. Ideally, the content published by the affiliate should illustrate a solution to the issue. It should also respond to frequently asked questions about the product and highlight its benefits.
5. Avoid relying on a single source of income
Affiliates sometimes make the mistake of relying on a single affiliate network or program for their profits. It may contribute to various problems, such as in the case of affiliates that are part of Amazon’s affiliate network, which could have their income impacted by Amazon’s commission rate when they choose to change it.
It has become a widely debated issue in the past, when Amazon has slashed its commission rates, resulting in a drop in affiliate incomes. It is, therefore, advised that affiliates diversify into multiple affiliate programs.
In conclusion, success as an affiliate requires patience as well as the ability to learn and adapt to changes. They need to be creative with their marketing, and they need to keep trying out new stuff.
Good luck with your affiliate program !