How to Increase Sales with Affiliate Program?
In this day and age, Affiliate program becomes one of the most profit-yielding modules for any business, no matter how big it is.
In this day and age, Affiliate program becomes one of the most profit-yielding modules for any business, no matter how big it is. We have seen so many brands across the ranges using this tactic to increase sales and online revenue rapidly.
If you have not heard about it, take a look at this impressive data:
Affiliate marketing accounts for 15% of total revenue from digital media
35% of affiliates earn more than $20,000 per year
In the United States, spending on affiliate marketing has increased by 10.1% percent each year. It is estimated to reach $6.8 billion in 2020 and $8.2 billion in 2022
Affiliate marketing draws more profits than you expect! But how can you use that to leverage your sales to a high level? Considering the competitiveness of business, it is crucial to find unique and applicable methods to help you win the Affiliate game.
In this article, we will analyze some of the most useful tips to increase sales with Affiliate programs. With this post, we hope to refine your Affiliate knowledge as well as provide a long term solution that you need whenever your Affiliate program is modified to get the best result of it.
What is an Affiliate program?
Basically, Affiliate program is an advertising module in which people can earn a commission by promoting other's products. The relationship between advertisers who have products, publishers who promote products and customers creates the core of Affiliate network.
This type of business brings benefits for all parties in the system. We have listed down some of the most significant ones:
- Boosting online sales dramatically
- Minimize costs and grow the customer base
- Expand the size of potential customers
- Extend your brand's approach
- Drive more traffic to your site
- Manage your affiliates and ads well
Why can Affiliate programs increase more sales?
You are finding a way to increase sales with Affiliate programs, but do you know how does this happen?
Now, let's imagine that you are running your store without knowing anything about Affiliate programs. You put your whole heart into creating promising advertisement and promotion programs, aiming to encourage more their purchases as many as possible. It would be nice; however, it may turn out to be counterproductive if the promotion is too much and frequent.
You need to implement Affiliate program, a single comprehensive solution that saves your time and effort on sale strategy. We have a saying that if you want to go fast, go alone, but if you want to go far, go with friends. Because of that, Affiliate program helps you build your sale force called Affiliates, who not only widely promote your products but also helps you take care of new clients.
It is the mutual benefit of all parties in the Affiliate network that brings more sales than you expect. Because your affiliates are given commission based on their performance, they are motivated to make more sales. On the other hand, when buying items from referral links, referred buyers can get their favorite products while enjoying sweet discounts and having the right to be an Affiliate to make money. When your affiliate and customers work at their best, you will get a streamline of turnover, coming from not only original sales but also the sales of Affiliate.
How to increase sales with Affiliate program
Find the right products
Finding the right Affiliate products decides more than half of the success of your program. Therefore, to increase your Affiliate sales and conversions, you should determine what works best for you. We have summarized the most important rules for choosing an affiliate product when setting an affiliate program:
Choose products that you can understand or see its benefits.
Avoid picking products that are provided by many affiliates because of high competitions
Select evergreen products that continue to sell over time. It is not the one that will fizzle out quickly.
Work with products that fit within your niche.
Focus on products that an obvious target demographic of buyers, and that you are confident in being able to reach online and target effectively.
You may have plenty of options. However, narrow down your choices to find the best affiliate product for you is a solid foundation for your future money-making endeavor.
Find the right affiliate
Remember that the affiliates you choose will be representing you, your products, and your brand. With this in mind, you will find people who are a good "fit" in terms of niche, personality, and marketing style. There are many criteria when choosing a good affiliate; we recommend you the following indicator for you to choose a net positive affiliate candidate.
Have a clear commitment to affiliate marketing. They should be the one who has experienced in affiliate marketing and actively working as an affiliate.
Have industry authority. The most effective affiliates are those with a good following, views, engagement, and authority.
Have a great rapport with the community. Affiliate marketing is based around communication; therefore, you should look for the one who can maintain a good relationship with people around and represent your brand in a polished and professional manner.
Have a professional and high ranking website. A quality website attracts more visitors and helps your affiliate converts more lead.
Have useful data about their audience. The statistics on website stats, number of followers, number of email subscribers,etc., can give you a general idea of how your affiliate can reach and explore your target audience.
Be active. This characteristic is all about how well-connected a potential affiliate is within their niche. Are their social media accounts active? How engaged are their followers? Do they post regularly?
All of this is important to make sure that your efforts will not be a waste.
For example, if you are a software company, choosing a coupon site that provides discounts on books is definitely a wrong choice. Or a blogger within ten unique visitors a day can not bring more sales to your business.
Once you have detailed the criteria, use them effectively to evaluate incoming applicants, and streamline your process.
Smart affiliate strategy
Another tip that helps you create more sales is being transparent. That means being upfront and honest with our affiliates about their commission as well as commission policy.
To have clear affiliate policies, include these three steps in your process
- Be consistent and use direct language
- Provide examples
- Be open to communication
There is a hack tip that will bring more sales to your business within your Affiliate link. You have thousands of links, but do you know how to make the most of it?
Now, you have four methods to do so:
Choose Affiliate links wisely
When you are running a website and a blog at the same time, your customer may reach out to your blog no matter what your niche is. To keep customers stay on your site and possibly click on Affiliate link, you need to make sure it will align with your content. If not, your product recommendation comes off as a sneaky "money -grab".
Use multiple Affiliate links
Because most affiliate markers can promote 1-10 links. You will not get the best result if you depend on one affiliate link for your entire strategy. Therefore, it is helpful to diversify your affiliate link, making sure that if one does not work as expected, the others will make up for it.
Add Affiliate links to different channels
Blogs are found to be the most popular channel for affiliate promotion. However, you still have a variety of options; you can add them to any type of content that attracts our audience and increase your sales. Your affiliate links are not limited to one single place! Add them to social media strategy, landing page, etc.
Target your affiliate links to the right audience
Having multiple affiliate links does not mean that you populate it everywhere. Instead, you should segment your audience to promote certain products to specific people. Do not blindly invest your time and effort on something that does not bring you a result.
Build a robust Affiliate network
We can not depend on a single affiliate system to boost sales dramatically. The wider your affiliate network is, the more chance for you to make money online.
It can be challenging to recruit your first a few affiliates. However, expanding your affiliate system is much easier.
If you want to attract more affiliates, you need to have a clear approach and expectation. Give your potential affiliates all of the must-know information, making sure that they are clear about what to do, how it works, and the commission you'll pay.
It is a great idea to encourage your affiliates to recruit more sub-affiliate by rewarding them with a higher commission or other benefits such as free delivery or multiple discounts on certain items.
Also, spend some time listening to your affiliate feedback and comment to understand their needs and wants. Adjust your policy accordingly, making sure that benefits you and your affiliate partner in a win-win situation.
Use coupon, deals, and promotion
If appropriately managed, Affiliate can generate a great source of revenue. However, only relying on Affiliate is not a smart option. You would rather combine it with other sales strategies to get the best result. We highly recommend you apply coupons, deals, and various types of promotions at the same time.
We know that everyone loves the saving power of coupons. We often look for discount vouchers before shopping or deciding to buy products. With the promotion, we can attract not only potential customers but also affiliates as they may be your customer too.
Do not hard sell
If you believe that you can make more sales by selling hard, there is no chance for you to be successful. Making money by selling products is an art. The core value of affiliates is to bring more value to your audience through the products you recommend. Hard selling is a big mistake when running affiliate program because people are don't believe in products on which they seem to be forced to buy. Conversely, customers are willing to purchase items that are a necessity for them.
Do not hard sell! If you only focus on selling only, you are likely to fail out of success sooner or later.
Affiliate marketing is not only rewarding but also profitable if you find the right way to manage it. While there is no size fit for all solutions, you are the one who knows what works best for you.
If you have the skills, confidence, and patience, you already have everything you need to increase your affiliate sales.
We hope that our tips open new approaches and help you define your affiliate strategy in the most effective way. Thank you for your reading time!
This article is written by Daisy. Daisy is Avada Content Writer who specializes in sales funnels, targeted traffic, and affiliate marketing. Having experienced in these fields for several years, she loves to write about eCommerce solutions, helping online businesses proliferate within limited resources. She believes in the power of words and how a message can inform and even transform its intended audience.