Affiliate Marketing: How to?
Motivated Affiliates are the short-cut to success:
One of my favorite moments was when someone taught me about synergy. The example they used was two horses pulling a cart. Each horse can pull approximately 500 lbs. (I'm making that up, because I don't remember the actual number.)
A basic understanding of math would logically determine that by strapping the two horses together, they could pull 1,000 lbs. In reality, two horses working together can pull three times the amount they could on their own--not double.
This same principle is the reason business owners need to consider using affiliates. You see... you can't be the "perfect" entrepreneur. You can try. And, maybe get close. But, at some point in time everybody needs additional skills, markets, and time they don't possess.
So, what exactly does having affiliates add to your business? Here are just a few benefits:
- More Referrals
- A Larger Market (yours + your affiliate's)
- An Outside Promoter of Your Products/Services
- Increased Networking Abilities
- & Ultimately More Sales!
Consider the value of having another "salesman" reaching out to your customers. Now, you don't have to grow your company on your own. By creating an affiliate program, you can achieve much more than you will EVER be able to achieve alone!
When you develop lasting partnerships, your business is going to grow automatically, just from the leverage you gave it. Strap yourself to affiliates, and see where the synergy can take you!
Creating successful Affiliate Programs:
Here are the three main aspects of creating a successful affiliate program.
Who should my affiliates be?
When selecting people to partner with you, consider their value. Find someone whose influence is going to drive sales. Seek out the gurus and experts in your industry and see if they'd be willing to partner with you. Look for individuals with a market that is either larger, or hits another set of prospects than yours does. Finally, choose affiliates that are excited about, and preferably use, your products and service.
How should my affiliates be paid?
Always pay your affiliates on a commission basis. Like most salesman, if they do nothing... they receive nothing. The harder they work, the more they earn. However, the value of each of your affiliates is going to vary. Consider paying commissions based on a tiered payment structure.
How do I motivate affiliates to act?
Even the best partners need motivation to work with you. Here's the key: make it EASY and LUCRATIVE for them. They're busy. You've got to do as much of the work for them as you can. And, you need to be generous. Remember, it's their influence and list you want, not their work. Make it easy and lucrative for them and your success will soar.
Creating and managing multi-tiered affiliate structures should not be difficult. Find an affiliate management software program that does this for you. Then, sit back and see what your affiliates can do!