Managing affiliate marketing as part of your business, whether as an affiliate network with your own affiliates or being an affiliate of an existing network, requires a level of organization that is surprising to many companies. Being able to better manage all aspects of the affiliate business is likely to make the results better over time because adjustments can be made to maximize revenue and in the case of being your own affiliate network, improve relationships with your affiliates.
Here are some helpful ways to handle the affiliate part of your operations better.
Managing an Affiliate Network
“As a company with its own range of products or services that you wish to market effectively at a controllable cost, having an internal affiliate network is an effective way to improve sales prospects” says Ben Givon, CEO of BAFF Networks. “Getting a small army of online publishers to review and promote your products in exchange for an affiliate commission on sales provides the opportunity for rapid growth.”
BAFF Networks provides a SaaS app that helps you manage your own affiliate network. According to Mr. Ben Givon, “Affiliate marketing is the expansion engine of the internet currently. It’s open to small web sites and larger ones willing to make the effort to promote other company’s products. “
Be Clear About Commission Tiers & Fixed Commission Schedules
For affiliates that promote and sell products and services on behalf of companies, different product lines provide various commission rates, incentives, and bonuses. Some companies use a tiered commission system based on the units sold each month where the commission rate rises with each tier. Other businesses offer fixed commission rates regardless of the unit volume sold. Also, from time to time special promotions are run either to coincide with a holiday season or to promote a new product line.
“When you don’t know what commission you’ll earn by promoting a product from an affiliate network, it makes it difficult to allocate the resources needed to get content written, publish articles and build interest around them. When you know what you’ll earn, you can also look for better deals on certain product lines where one retailer or e-commerce site pays a better commission than another to increase commissions earned from the same volume of sales”.
Use Spreadsheets Effectively
It’s possible to manage many aspects of being an affiliate marketer by using spreadsheets. Whether you’re a fan of Google Docs, Microsoft Excel or OpenOffice, your spreadsheet app of choice is a window into analyzing which products are selling the best, their commission rate, earnings per unit, and total commissions. Armed with the data entered into a spreadsheet, it’s easier to figure out where promotional efforts should be allocated to get even stronger results going forward.
“Managing your affiliate marketing efforts by keeping organized and not getting overwhelmed with complex information is vital to ensuring better results. Too much data isn’t always helpful because only when useful conclusions may be drawn from information can it be acted upon” Ben finishes by saying. Using tools helpful with affiliate marketing and keeping things simpler wherever possible avoids losing track of the big picture.
Originally published on https://www.diigo.com/item/note/68vpi/8b9t?k=f027a8fa94b28f1f40eb6dcfcdb169ea