So, you have decided that you want a new revenue stream for your business! Affiliate marketing is the best way to achieve great marketing ROI, if designed and implemented successfully. I have put together these tips just for you on how to launch and run your affiliate program with ease.
3 KEY AREAS OF AFFILIATE MARKETING MANAGEMENT
- Marketing Program Strategy
- Affiliate Partner Relationship Management
- Data Analysis and Reporting
Pre-Launch Affiliate Marketing Plan:
Develop affiliate program sales revenue goals and key performance metrics: Decide on an affiliate payout/promotional strategy to ensure you have a competitive offer in your vertical, but still maintain positive ROI.
Competitive Analysis: Research and report what your competitors are paying affiliates, what network are they in? What does the creative look like?
Develop advertising budget: This will include paid placements to optimize your brand on key web sites. The bigger shopping/loyalty/rewards sites such as Ebates charge a fee to optimize presence on site since they work with thousands of merchants in all industries.
Select the best affiliate network for your offering: This 3rd party will host creative and house all the tools affiliates need to successfully promote your brand. Reporting will be provided to the affiliates directly from the platform 24/7. I am a big fan of Commission Junction/CJ. They have an easy to use interface, great tech support, and most importantly, a fantastic array of eager affiliates waiting to promote your brand for some $$.
Create Affiliate Tools to promote program: Create an “Affiliate Page” for your web site along with other pre-launch materials like a Program Description, Welcome Letter, and essential affiliate sales tools such as: banner ads, text links, data feed, etc..
Establish affiliate policy: For example, will you allow affiliates to bid on your brand in the search engines? Do you have a no ppc on trademarked brand policy? These guidelines need to be established and communicated from the start.
Post Launch Affiliate Marketing Plan:
- Target and recruit key publishers to the program. This includes both “Super Affiliates”, niche sites, and if applicable, search publishers aligned with your vertical.
- Web sites sending traffic to your competitors and those ranking high for vital keywords.
Daily/Monthly Account Management:
- Approve new affiliate applications.
- Negotiate publisher payouts.
- Nurture and grow affiliate partner relationships. We handle all affiliate requests on your behalf so that your organization can focus on the big picture.
- Respond to affiliate inquiries within 48 hours.
- Monitor affiliate activity to ensure program compliance.
- Banner, text link, and data feed maintenance.
- Publicize affiliate program launch in the network and on industry blogs and web sites. ABestWeb.com is a popular forum for both affiliates and advertisers to get together to discuss current events effecting our industry. It is the first place to go to see what’s hot in affiliate marketing.
- Create and send monthly or quarterly affiliate newsletter, promotional/holiday sales e-mails.
- Other communication bulletins needed such as new product launches and other newsworthy items.
- Create affiliate incentives/contests as needed to keep partners excited and engaged to keep selling!
Reporting and Analysis:
- Weekly reporting and analysis using industry best practices.
- Continual sharing of key channel learning’s with your marketing team to improve conversion.
- Product performance analysis.
- Creative performance analysis.
- Work with your internal team to monitor and manage chargebacks, canceled, or fraudulent sales.
If you need you need help launching an affiliate marketing consultant in Los Angeles or Nationwide, please contact me for a consultation.