It is very important to maintain a healthy merchant-affiliate relationship in the affiliate program. This helps to enhance affiliate loyalty and build long-term trust.
While running an affiliate program, a merchant can do a lot to improve their partnership with affiliates. In exchange, this is also advantageous to the merchant and the program he is running, because this ensures that the affiliates are working harder to bring in more sales.
Here we take a look at some of the steps that a merchant can take to ensure this:
Commission Rates for Affiliates
The commission is an important part of this partnership between the merchant and the affiliate. A competitive commission rate can go a long way in running a successful affiliate program, which also helps to make it easier for more affiliates to be recruited into the program.
Some affiliate marketing platforms also offer merchants to set custom commission rates for specific affiliates. Affiliate experience can be further improved by setting goals for them that can be compensated with rewards. This also helps to boost the morale of affiliates and keep them going.
Paying Commission to Affiliates
Affiliate payments play a significant role here, merchants should look at increasing the number of supported payment methods to make it easier for affiliates to collect payments and also to allow making payments on time. Timely commission payments can significantly boost affiliate loyalty and trust.
To make paying affiliates simpler, merchants may consider setting payment terms, such as paying affiliates on a weekly or monthly basis, which would make paying affiliates a more efficient operation. A minimum amount of payout may also be set for affiliates, which will not only help merchants reduce their transaction fees on payments, but will also encourage affiliates to promote as soon as they join the program to get paid. Affiliates can also be issued with payment invoices for tax purposes and to make the process more formal.
Customization Option for Affiliates
Many traders are missing the affiliate experience or their services. By offering personalized options for coupon codes and referral links, affiliates will have more control over their promotions. Not only that creative media files such as videos or banners that are appropriate for various social media sites can also be created.
Also, merchants can use a multi-level affiliate network feature that allows affiliates to recruit affiliates under them and to earn a sales commission on sales made by affiliates down the line in the network.
It is therefore an essential job to maintain a health merchant-affiliate partnership, prompt payments to affiliates, fair and reasonable commission rates, and a range of configuration options that allow affiliates to easily build promotions are great ways to enhance their affiliate experience with your system.
We would recommend looking into GoAffPro, the number one affiliate marketing app on Shopify. It offers merchants, the option to set up custom commission rates, set up payment terms, automatically generate payment invoices and provides various customization options for affiliates.