Affiliate marketing is a great way to get more traffic to your e-commerce site, but it’s not as easy as just recruiting affiliates and having them put up banners for your products on their website. There’s so much more that goes into affiliate marketing and, having been on both sides of it as a merchant AND as an affiliate, I wanted to record this podcast episode for you to share with you how YOU can run a successful affiliate program for your e-commerce site.
There are many things to consider when setting up your affiliate program, so make sure to listen to the entire episode.
Here’s what I’ll be covering in this episode:
What is affiliate marketing?
Affiliate marketing is a type of performance-based marketing in which you reward your affiliates for each visitor or customer brought by the affiliate’s own marketing efforts. In other words, you pay a commission each time someone uses a special affiliate link to refer a sale to your website (this is tracked via cookies and pixels automatically).
However, in order to run a successful and lucrative affiliate marketing program, there are six things you need to consider.
Six steps to affiliate marketing success
1. Pick your affiliate platform – my absolute favorite affiliate platform is ShareaSale, not only because they are extremely affordable compared to some of the other major affiliate platforms, but also because they already have a huge database of potential affiliates for you and they manage all your affiliate payments, so you don’t have to deal with sending checks every month. Other platforms to consider include Omnistar (for Shopify, BigCommerce and other online eCommerce platforms) and AffiliateWP (for WordPress-based eCommerce sites).
2. Decide what commission you will offer – offering a 20-25% commission will increase your chances of having great affiliate partners, but 10-15% is also a good start.
3. Create an affiliate resource center – make it as easy as possible for your affiliate to promote you by providing different banner sizes that your affiliates can choose from (click here for all of the standard size web banners that you should have available) and add a few social media sized banners (click here for a cheat sheet of social media image sizes). You should also offer social media copy (for Facebook, Twitter, and LinkedIn posts), as well as e-newsletter copy.
4. Recruit affiliates – if you sign up with a platform like ShareaSale you will naturally attract a lot of the affiliates that are already using the platform and looking for more products like yours to promote, so you will have a lot of your work cut out for you. You should also seek out bloggers and other online websites whose audience is similar to your target market and invite them to be your affiliates.
5. Activate affiliates – not everyone who signs up for your affiliate program will start sharing your products with their audience right away. Some might forget to do it, while others might be too busy to start. Consider offering all your new affiliates an incentive to get active and to start spreading the word about your products and website.
6. Motivate affiliates – once your affiliates become active, you should connect with them on a regular and consistent basis to let them know about any new products or promos you have going on. Always make sure to ask if they need anything else from you and make their interaction with you as easy as possible!
I hope these affiliate marketing tips are helpful for you! Do you have any experience with running an affiliate program to market your products and your ecommerce store? Are you thinking of setting up an affiliate program? Leave a comment below and let me know!