Affiliate Program Improvements
Affiliate programs are an important digital channel for any serious online business. It opens you up to a wide array of marketing expertise and audiences you would never be able to get to. Growing your affiliate program is not an easy task so we have put together 7 tips for you to improve your program.
1. Voucher Codes – Keep your voucher codes fresh and test test test! Create different types of behavior in each of your vouchers and see which one is most receptive. This could be creating a voucher to encourage more spending (spend £35 and get free delivery) or give away a free item to encourage the sale (buy 2 get 1 free).
Once you know what works best for you then plan similar voucher codes for future offerings. Communicate your codes out on a regular basis to keep reminding the affiliates about your brand.
2. Validation time period – by decreasing your validation period you improve affiliate cash flow. Affiliates love this and are more likely to push your products and services. If you can get away with reducing the validation time without impacting your returns period then I would advise you to do so and shout about it to your affiliates.
3. Top 3 affiliates – You should be in regular contact with at least your top 10 affiliates on a weekly or monthly basis. Narrow this down even further and really concentrate hard in building a relationship with your top 3 affiliates. Give these top 3 affiliates priority on exclusive voucher codes, special cashback rates and commission increases.
Start to build up the relationship by adding them on Skype, Linkedin and plan meetings at trade events. Striking up a good relationship with your big hitter will be priceless over the lifetime of your program.
4. Help, Help Help! – The more you can help your affiliates the more receptive and likely they will be in pushing your products and services. They may want bespoke banners, exclusive voucher codes, or a piece of content writing, Give them what they want and you will be rewarded with a more loyal affiliate.
5. Share program knowledge – Let your smaller affiliates know what the bigger affiliates are doing to create sales. My sharing this information your affiliates will be on the right path to produce your program more sales, It will also give your lesser affiliates a bit more optimism towards your program. Any techniques that are working for your program should be shared.
6. Setting cookies – Your cookies need to be fair, most programs run a 30 day cookie period, can you offer more? Can you offer 60 days? The longer the cookie period on your program the more appealing your program will become for the affiliate. This then also creates a perception that you are doing more to make sure the affiliate receives commission for their work.
7. Commissions – stagger your commission payments so your top affiliates are rewarded more than others. If you tier your commission structure this will also create an incentive for smaller affiliates to hit bigger targets. Example 1-10 sales = £10, 11 – 20 sales = £15, 21 sales plus = £20. This again will also maintain the loyalty of your top affiliates.