Affiliate marketing is a process in which an affiliate earns a commission from marketing another person’s/businesses products or services. An affiliate promotes the product/service on their website, customers click on the product/service which in turn converts to a sale, the company then pays the affiliate.
The merchant (person or company) provides the information on the products/services they expect the affiliate to promote. The material supplied usually consists of images, links and product descriptions to that the affiliate can use on their website.
Starting an affiliate marketing website can be easy with the right plan in place. You’ll have to figure out who your audience is, how to promote links, how much profit you expect and how much time you are willing to spend on this new endeavor.
It can be tricky to navigate if your mindset is solely on making money FAST! Many mistakes can occur with that type of mentality. Affiliate marketing can be a slow process at the beginning stages and if rushed you can run into major problems.
Let’s get into the 5 mistakes to avoid in affiliate marketing.
ALWAYS Test your program! Before launching your affiliate program, it is good practice to test every aspect of your program. Double check your pricing, buttons, images, and links to ensure things are working.
The WORST thing you can do as an affiliate program is not paying out your affiliates! Payouts are not always automatic. Set a reminder, whether it’s a weekly or biweekly reminder, to make sure your pay outs go out on time. Even if you lose money ALWAYS make sure to pay the affiliates what you owe them.
Support your affiliates by staying in touch with them. Make them aware of any changes ahead of time. Provide them the proper tools such as links, product photos and descriptions that will help them promote your product/service. Always provide options in sizes when it comes to images. This makes it easy for the affiliate to choose the amount of space they want to dedicate on their website to promote YOU.
Keep in mind that different social media platforms limit the amount of text you can use per post. Try to supply your affiliates with a 2 or 3 versions of a post they can publish on Twitter, Facebook or Instagram. This will allow them to choose which platform works best for them.
Failing to track and monitor your links can lead to loss in revenue. Tracking links can help you understand your campaigns strengths and weaknesses. You will be able to adjust your marketing strategy as needed.
Be ok with rejection! Affiliates can be people you’ve never met or someone that you’ve had a long history with. Either way don’t take NO personally. Even though you may have a great relationship with a client who loves your services, they may not be willing to put in the time and energy into promoting your service. Affiliate marketing can be pretty time consuming at first and not a lot of people can dedicate the time to promote someone else’s business.
Starting an affiliate program can be successful when you put in the time and effort towards your campaign and your affiliates. Always provide support for our affiliate and make sure that you’ve gone over every aspect of your program before your launch. It can turn into a great passive revenue stream when you avoid the mistakes we’ve discussed here.
Useful resources: Izik Academy | Videos | Tools for your business