Should You Use Affiliate Marketing to Promote Your Business?

On August 3, 2009, in Marketing, by Melody Brooks

Your business is up and running, but your sales aren’t where you thought they’d be.

You did what all the “gurus” said to do: you put up a pretty website, your autoresponder is ready to go, and you’re trying to build a list. What more could you possibly need?

Traffic.

Just like any other business, you need to advertise your products and lure people in to buy. How do you advertise on the Internet, apart from spending a ton of money on Google Adwords or writing a bunch of articles?

Simple. Create an affiliate program.

Affiliates are marketers who use your materials to promote your product. They post banners, send emails, and write articles about your website and products. They refer prospects to your site and you pay only when a sale is made.

For example, Joe is looking for information and visits your affiliate’s website. He likes the product you are selling and clicks on the link or banner to your website (be sure your opt-in page for your autoresponder is ready to go so you can get his email address for later sales). If he buys, you pay your affiliate a commission for that purchase.

Think about the advantages to you, the business owner.

*The traffic to your website is targeted. Visitors are trying to solve a problem or heal a pain and your product is an option. It’s up to you to make your site show them that yours is the best solution.

*You don’t pay unless a sale is made. The only cost you have is setting up marketing materials and landing pages for your affiliates to use. Make sure they are good – even if you have to pay someone to do it.

*You don’t have to pay benefits, insurance, or taxes. The affiliate is responsible for his or her own.

*You get positive promotion to your site. The more affiliates, the more promotion.

*You build a list quickly that you can market to any time.

This is very powerful. You could have literally thousands of people spreading the word about you and your product. You can’t buy that kind of advertising.

And you only pay the affiliate if someone buys. It doesn’t get better than that.

You need to take care of your affiliates to keep them happy and loyal. Pay them well and don’t make them wait forever for commissions. If you can, pay them as soon as your payment clears, but no later than 30 days after the sale. Give them a high commission - not only will it keep your affiliates happy, but the commission will attract more high-quality affiliates to promote your product.

Don’t skimp on marketing materials. You want to put your best face forward with your materials, so make sure they are top-notch and you have plenty for affiliates to choose from. You might offer banners, links, Adwords ads, emails, blog posts, Tweets…the list is endless.

You have to track all sales and which affiliate referred them. Affiliate tracking companies can do that for you. Make sure you fully understand the program and you are accurately keeping track of everything.

Treat your affiliates like partners. Answer their questions, help them get referrals to your site. Make their job as easy as you can, and they will make your wallet as fat as they can. Communicate often. When they have questions, answer them ASAP. Create an affiliate newsletter to stay in touch, keep them updated on news, and help them market your products effectively.

Affiliate programs are a powerful, inexpensive way to advertise. Your affiliates will make you a lot of money if you make it worth their while to promote your product.

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