Affiliate marketing is a great way of increasing sales by getting affiliates to promote your products. Since it is performance-based marketing, you only pay when you see actual results such as an increase in sales or revenue. It is based on a revenue-sharing model where both the merchant and the affiliate get benefited.
Setting up an affiliate program can seem like a daunting task, with things such as recruiting affiliates, setting the commission rates and making timely payouts. With so many tasks, an affiliate program can be very time-consuming.
Here we look at the steps that you can take to set up your affiliate program fast and easily.
Table of Contents
- Choosing an affiliate marketing service
- Recruiting affiliates in your program
- Setting up of commission rates
- Using additional features to boost sales
- Making timely payments to affiliates
1. Choosing an affiliate marketing service
It is very important to make the right choice when choosing an affiliate marketing service. The service should consist of all the features that would make it easy for you to manage the affiliate program. It is also important to look for a service that offers a good amount of customization options and provides decent support in times of need.
GoAffPro is a great affiliate marketing app, it offers a high level of customization and provides an easy-to-use UI for users.
2. Recruiting affiliates in your program
After setting up an affiliate program, the next step is to recruit affiliates into your program. This can be done by promoting your affiliate program on social media, highlighting the benefits of becoming an affiliate. This can also be done within the store by providing a header and footer link in your store. Another great way of promoting your affiliate program is by using post-checkout popups.
GoAffPro provides you with the option to set up and customize your affiliate landing and signup page. It also provides additional options such as accepting or rejecting affiliate registrations.
3. Setting up of commission rates
The next step is setting up commissions rates for your affiliate program. You need to set up the rate of commission that an affiliate will earn when a sale takes place using an affiliate’s referral. Setting a suitable commission rate is very important, if the commission rate is too low then it will not provide the affiliates with a financial incentive to do promotions and if the commission rate is too high then it will eat into profits.
GoAffPro provides an extensive set of options for setting up commission rates in an affiliate program. You can set up a default commission rate for all affiliates and products or set up different commission rates for different products or affiliates. In addition to this, the app also offers the functionality to set up collection and fixed type commissions for affiliates.
4. Using additional features to boost sales
Simply setting up an affiliate program is not enough, to take your affiliate program to the next level it is important to clearly understand features and make use of them. Using coupon-based commissions, setting up targets for affiliates or using a multi-level affiliate program can boost sales.
GoAffPro provides you with the option to set up coupon-based commissions, targets of affiliates, making customer-affiliate connections and enabling the multi-level affiliate program. These features can be easily used in the GoAffPro admin panel.
5. Making timely payouts to affiliates
Making payments is an important part of an affiliate marketing process. Affiliates do promotions, in return for commissions. It is therefore very important to maintain a healthy relationship with the affiliates in your program. By making regular and timely payments to affiliates, it improves both the loyalty and confidence of affiliates. It also gives your affiliate program a good reputation among the affiliate community, therefore making it easy to recruit more affiliates.
GoAffPro provides with an easy to use payouts tab in its admin panel, it shows you how the pending payouts and payouts that have already been made. Also, keeping security and privacy in focus, GoAffPro does not become a middle man in the payment chain, therefore saving merchants additional fees. It also allows PayPal integration, where affiliates can be paid individually or in bulk by using PayPal.