I just read an interesting article about affiliates from Affiliate Benchmarks.
The three most important things affiliates look at when deciding whether to join an affiliate program are:
- the commission they will receive
- the product being sold
- the brand being promoted
If you are creating an information product, having a group of highly motivated promoters helping you is one of the keys to success. However, just offering your products to affiliates isn’t enough. It’s important to motivate them and reward them for promoting your products. Over 44% of the promoters surveyed said that less than 5% of the affiliate products produced one order in the last month. That’s probably because they just put a link up on a website and hope someone will stumble upon it and maybe, just maybe click on it. The survey points this out by indicating that most affiliate marketers prefer to use SEO to drive sales.
As a product producer, it is your job to help your affiliates out of the “SEO” trap and provide them with tools to help them sell your products.
According to the findings in the survey promoters say commission amount is the main factor in choosing a program, followed by the ‘product being sold.’ It goes without saying, the more the affiliate stands to make the more motivated they will be in selling your product.
Master marketer Alex Mandossian takes this formula to another level by offering his affiliates the whole purchase price(100% commission) if they promote his special introductory teleseminar calls – $20.00 per person, plus a cut of the $2000.00 purchase price for his course. What affiliate can resist such the offer? Out goes the invitation to everyone’s mailing list! Alex knows that when he does the pitch for the teleseminar the listeners on the call have been vetted by paying $20.00 to attend. They are his target audience — and without ever paying a cent, he has hundreds of qualified buyers on his sales call. And, his affiliates all have money in their pockets for helping promote the conference call.
If you are considering creating an affiliate program reporting and ease of use are important factors for your promoters. If possible, use Commission Junction(CJ) as your manager. CJ was the number one program that affiliates used, so you’ll have the trust and ease factor covered.
An affiliate manager like Commission Junction or LinkShare may be out of the question if you are just starting out. However there is automation available, which will help you and your promoters to track sales. One for digital products is eJunkie.com.
Finally, another factor in success is to choose something that an affiliate wants to promote.
Product creators need to provide affiliates with what they find easiest to sell.
The survey showed that: Electronics and Books are two of the top advertiser types that generate strong revenue to affiliate websites. I’m not sure how many of us can create a new electronic device, but we sure can create books and eBooks.