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5 Reasons to Choose Affiliate Marketing for Your Business

Affiliate marketing has become one of the preferred ways of marketing for brands and merchants globally. It provides great results and requires little to no money to start.

In affiliate marketing, the affiliate promotes the products of a store and brings in sales. For every referral sale that they bring to the store, they get paid a commission. This way, merchants are assured of sales and only pay the commission after a successful sale has happened.

Here we take a look at some reasons that you should be looking into affiliate marketing for your business:

Beneficial for small/new businesses

Affiliate marketing provides small and new businesses a cost-effective solution for marketing their products. With little to no initial investment needed for affiliate marketing, it makes it a great deal for merchants who are seeking to expand their business and grow.

Economical for merchants

An added benefit of affiliate marketing is that merchants only need to pay the affiliate when they refer a sale successfully. This means, merchants only pay when they get guaranteed returns in terms of actual sales. Such benefits make affiliate marketing quite economical for businesses.

Reach more people

Another advantage of affiliate marketing is that it enables brands, especially smaller ones, to reach a wider audience. Since affiliate marketing involves affiliates promoting brands on social media, businesses profit from a broader reach. It also implies that a greater number of newer customers would visit the store to make a purchase.

Closely tied to influencer marketing

Influencer marketing and affiliate marketing are integrally related. Influencers also receive money or commissions from promotions they run on social media or from their content. Over the last few years, affiliate marketing has grown to incorporate various aspects of influencer marketing and its benefits.

Various tools for affiliates

Affiliates in affiliate marketing may use a variety of methods to generate referral sales, one of which is coupon codes. Coupon codes often boost sales while also attracting new buyers who are unwilling to pay full price for a new product. Discounts inspire them to try out new products and services.

GoAffPro provides merchants with the option to start an affiliate program for their store for free. Check out the app: GoAffPro

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Key Features of GoAffPro’s Affiliate Groups Option

Managing affiliates in a program can be quite a task for merchants. To make this job easier, merchants usually like to separate affiliates into different groups. This makes it easier for setting up different commission rates for different types of affiliates in the program. It also makes affiliate management simpler.

Through the Affiliate Groups option, GoAffPro provides merchants with a powerful tool. It enables merchants to organize their affiliates into different groups, set different types of commission rates for these groups, and associate membership plans or signup pages with specific groups. This simplifies the process of setting up and managing various types of affiliates within a merchant’s program.

Here we take a look at some of the affiliate group options that GoAffPro provides:

Setting up group commissions

The affiliate groups option provides merchants with various options for setting up commission rates. These include default commission, product commission, collection commission, and multi-level commission.

Merchants can set up different commissions for products and collections with a group. With the multi-level commission option, merchants can set up a multi-level network specific to the group, this includes the option to set up special multi-level commission rates for particular products.

There is also an option to create commission modifiers to modify the commission rates when a special event gets triggered. This can include events such as, when a specific coupon is applied or when a particular product is purchased.

Linking affiliate group with other options

The affiliate groups option is very versatile and can be linked with various other options in the GoAffPro app. These include linking the groups with signup pages, membership plans, and even the post-checkout popup.

Merchants can create multiple signup pages, and link them with different affiliate groups. This way, when an affiliate registers using a signup page, they will automatically get added to the linked group.

Similarly, when it comes to membership plans. The merchant can create different membership plans and link them with affiliate groups. When an affiliate registers and selects a payment plan, they will automatically get added to the linked group.

Finally, this option also extends to the post-checkout popup, which appears on the thank you page to the customer after they make the purchase. The popup can be connected to a specific affiliate group, allowing affiliates who register through the popup to automatically get added to the linked group.

GoAffPro provides merchants with various options to manage affiliates in their program. Merchants can create affiliate groups with different commission rates and link them with other options such as signup pages and membership plans. Check out the app: GoAffPro

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GoAffPro Tools for Affiliate Recruitment

Recruiting affiliates to the affiliate program can often be a challenging job. It is particularly true for newly launched stores that might not have a lot of customers or audience outreach.

There are plenty of things that merchants can do at a bare minimum. Such as adding the affiliate portal link to the footer or menu section of the store. Also, reaching out to existing customers by sharing the affiliate portal link on social media channels.

However, sometimes even these can fall short or might not be enough to gather enough steam. To tackle this issue, GoAffPro provides merchants with useful tools that can help them in recruiting affiliates.

Here we take a look at some of the tools that GoAffPro offers to merchants to help in the recruitment of affiliates:

Affiliate Portal Customization

GoAffPro offers merchants their own affiliate portal, that they can use to recruit and manage affiliates. It also offers a variety of customization options for the affiliate portal. Merchants can edit the texts on the landing page and change the banner. They can also customize the signup page of the affiliate portal, by adding fields. GoAffPro also offers multiple signup page layouts, in which affiliates can add images or put up program details.

There are further customization options also available to merchants, that they can use to customize the affiliate dashboard. They can add new affiliate tabs to the dashboard and add widgets like a leaderboard that provides affiliates with more information.

Post Checkout Popup

Merchants can set up a post-checkout popup to appear in the order status/thank you page of the store. This popup appears for customers after they have completed their purchase. It gives customers a convenient way of joining your affiliate program. Since the customer already knows about your store and products (since they have made a purchase), they are most likely to join in and promote them.

GoAffPro offers various popup styles, with different level of customizations. While some popups just direct the customer to your affiliate portal, others can automatically signup the customer and send them a welcome email with their referral link and coupon code. It also offers options like setting up a signup bonus for people who join up through popups or allowing the popup to only appear for certain products.

Marketplace

The marketplace is a directory of merchants who use GoAffPro. If enabled, the marketplace lists your store in the directory for affiliates who join the GoAffPro network to discover. This gives a convenient way to merchants to get more affiliates into their program. The marketplace option is provided for free to both merchants and affiliates.

Merchants can set up their store’s logo and description to be shown in the marketplace. Affiliates can then accordingly view the details of the program and register for it. This is especially beneficial for newer merchants who are struggling to get affiliates for their program.

GoAffPro provides merchants with advanced customization options for their affiliate portal. It also gives merchants the option to set up a post-checkout pop in their store, that will help them recruit customers as affiliates. It also offers the marketplace option, which merchants can use to find affiliates for their program. Check out the app: GoAffPro

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Commissions of an Affiliate Program

The Commissions are a vital part of the affiliate network. When someone makes a purchase in a store using a referral from an affiliate, the affiliate receives a commission on the purchase.

Affiliates work to create promotions and to bring sales to a store, to receive commissions in exchange. Setting up commission rates can often become difficult particularly if the merchant wants to set different commission rates for different affiliates. This often includes setting various types of commission rates for affiliates in the program.

Here we take a look at some of the types of commissions that merchants can set up in their programs:

Default/Product Commission

The default commission is set as the default rate for all affiliates in the program. It applies to all the affiliates and products in the store. Product commission is used to set different commission rates for the products in the store.

Using the choice of product commission, each product can have its own commission rate set for it. This choice can also be used to disable a product commission or to set up a product commission for a particular affiliate of the program.

Standard Commission for affiliate

The standard commission option is used to set special commission rates for the affiliate. This can include setting up of a different default commission for that specific affiliate or setting up a special product or collection for the affiliate.

This option allows merchants to have greater flexibility in customization, as they can set different commissions for any affiliate in the program as per their requirement.

Fixed Commissions (Royalties)

Affiliates or influencers who partner up with a brand also have their own custom designs that they sell in the store. The fixed commission (royalties) option allows the affiliates to earn a commission on the selling of that product, irrespective of the affiliate that made the sale.

Merchants can also set the royalties to be credited to the affiliate, even though it’s not a referral sale. This makes it easier for merchants to cater to affiliates or influencers who want to sell products with their designs or brand.

Affiliate Commission Groups

Merchants may set up commission groups, which are groups of affiliates. Affiliates may be added or excluded from each group and various types of commissions can be set to apply to affiliates within the group.

This involves setting up a default/product commission for affiliates in the group, setting up a multi-level network with different commissions for each level of the network for affiliates in the group, and there is also an option to set up commission modifiers and commission boosters for affiliates present in the group.

Using the above options and various types of commissions, merchants can have a high degree of customization and can appeal to different affiliates and requirements. It also offers an easier way to handle the affiliate commissions in the program.

GoAffPro offers merchants the option to set different types of commissions for their affiliates. It allows merchants to set up different commissions for different affiliates. There are also options for setting up royalties and creating commission groups for affiliates. Check out the app: GoAffPro