It’s no surprise that affiliate marketing remains a popular and effective form of marketing for online businesses. It’s a performance-based type of marketing in which the business pays a commission for each online order brought by the affiliate’s own marketing efforts. This creates a win-win situation for both parties, the affiliate and the business.
Benefits to the Merchant
- Increase in sales and revenue to business
- Extended branding – advertising with no cost
- Build a full-time sales team without the expense of hiring employees
- Commissions are paid when sales are made, not for clicks or impressions
- Lower probability of fraud
- Easy to manage
Benefits to the Affiliate
- Business opportunity with unlimited earning potential that does not require a financial investment
- Little effort required to earn – just facilitate the sale
- The affiliate is not responsible for managing inventory levels, or shipping and handling of product
- The affiliate is not responsible for customer service
- Does not require a college degree or expertise in a field of study
- Business mobility – a business that can be managed from anywhere providing there is Internet access
Building a Team of Successful Affiliates
It can be easy to build a team of affiliates by simply making the offer available, but with little effort, you can help your affiliates become successful – and when your affiliates are successful, your business is successful!
Connect with potential affiliates by joining social media and networking groups that are of interest to your customers. A customer can be your best affiliate as they support your business and may already have insight on what makes your products better than the rest.
Entice potential affiliates by offering a competitive commission rate for sales. Money is always a terrific motivator!
Reach out to affiliates often. Keep them informed of product updates, company news, and important business matters.
The best sales tool is knowledge. Provide affiliates with useful information about your company and cultivate an awareness of the products you offer.
Create engaging sales opportunities for affiliates to benefit from – special offers, discounts, product groups, bundles, etc.
Acknowledge and reward top performing affiliates. Encourage all affiliates to pursue their sales goals and achieve the income level they envision by presenting the affiliates that are making a mark with your company.
SmartCart effectively administers support for affiliate and commission tracking management with the Enterprise hosting suite. To begin, review the documentation for Affiliate and Commission Tracking Management, adjust your SmartCart settings, and begin reaping the benefits of building a successful team of affiliates.