Launching An Affiliate Program? Read This Step By Step Guide

So, you happen to have a really impressive website that has products that people absolutely love and prices that couldn’t get any more economical.  Is it enough to drive sales? The answer is no. That’s because there are competitors around more active than you.  It is a regular habit of competitors to plug Google search results with natural and paid listings to lure potential buyers.  They are ready and willing to do all that it takes to become desirable or plain irresistible, ranging from sending out newsletters to offering some amazingly discounted deals.  In a nutshell, they drive away all the clicks and website traffic from you.  Just when you start thinking that there is little you can do, affiliate marketing comes into play.  While we have already discussed how affiliate marketing programs help, here is a brief guide on how you can kick-start one:

Research

Conduct a competitor analysis to work out how different are competitors’ affiliate programs than yours. Learn about their tracking software or network and the commission payout structure.  Doing so will help you come up with an estimation on the volume of revenue obtained through the program and things that can be improved.

Choose an Affiliate Tracking Network

As a merchant, if you’re an owner of a massively popular and a huge brand, going for an in-house affiliate tracking software makes sense; otherwise not. Since you are excited about setting up and launching an affiliate tracking network for your business, make sure you pick a network that has a market reputation of being successful and productive. At LeadDyno, you can expect enhanced tracking, a user-friendly interface, all-around reporting, and various payment integrations.

Have a Management Plan

For an affiliate program’s growth and constancy, having a management plan is crucial. Affiliate programs can be taken care of by in-house merchants, or, more an experienced affiliate marketing platform such as LeadDyno.  Over the years, we have developed the expertise, experience, untouchable track record and valuable relationships with customers and affiliates.

Setup the Affiliate Program

A comprehensive affiliate program comprises the following features:

• Selecting the commission amount and action;
• Designing an affiliate agreement comprising of the following:
  - Trademark Policy,
  - Refund Policy,
  - Guide on handling deceptive orders.
• Placing and verifying the affiliate tracking code on the website,
• Producing banners, links, logos, and other things to promote products/services.

Launch the Program

Once the program is set up, you need to start promoting it. A good way to do so is by inviting past customers to sign up, publicly announcing the program’s launch via corporate newsletters, blog, and social media channels. Remember, the best advocates are those that buy.  As the program goes live, start hiring affiliates and assess the flow of traffic and revenue.  If you’re wondering how to start affiliate marketing, we have you covered. From Facebook conversion tracking to email marketing tracking software, we help your business flourish. Start your free trial today.