Writing by Brick Marketing on Friday, 8 of February , 2008 at 4:06 am
When is it time to pull the plug on affiliate promotions? The answer to that question depends largely on the types of affiliate promotions that you are making are making use of and what you hope to accomplish from each one. While the simple answer would be that affiliate promotions should stop when their goals are met, this is not the case. Affiliate promotions should stop before they cease to be profitable. You do not want to lose money on affiliate promotions; here are a few tips to avoid making costly mistakes.
- Watch your affiliate network closely. As soon as growth rates start to taper off, scale back on your affiliate promotions. If your affiliate network is large enough to provide you with consistent sales, your money might be better spent on educating your affiliates than promoting your network.
- Check your sales figures. If you are getting massive amounts of new affiliates but nothing to show for it, the money that you are spending on affiliate promotions is probably being wasted.
Assess and reassess your goals. If your affiliate network is failing to reach a threshold that you set before beginning your affiliate promotions, it is time to do some math. If the amount that you are spending on affiliate promotions is greater than the amount that your affiliates are contributing to your business, you are wasting profits. Affiliate promotions need only last as long as they are successful. As soon as affiliate promotions become unsuccessful, they become a burden and should be stopped.
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Category: Affiliate Network Management, Affiliate Promotions
Writing by Brick Marketing on Sunday, 3 of February , 2008 at 2:37 am
Not all of your affiliate promotions need to cost money. Some affiliate promotions can be done for next to nothing or nothing at all. Affiliate promotions are about promoting your affiliate program; they can be about building awareness or encouraging your existing members to perform better. The costs of affiliate promotions are quite often lower than you would think, especially if you generate enough public awareness. If you are interested in some affiliate promotions techniques that can have a very low cost, read on.
Update your Materials
How can your materials act as affiliate promotions? It is simple, bring out some new site banners and your affiliates will be checking them out in droves. This can be either cheap or free, depending on your image editing skills. If you outsource the task, it should not cost a great deal. It might seem a small thing, but sometimes that is all it takes to breath a bit of fresh life into a program.
In addition to updating your images, why not take the extra step of updating your literature. Providing fresh content is one of the more powerful forms of affiliate promotions. Not only does it help your affiliates sell better, it can help with search engine optimization as well. This can be time consuming, but if you are able to do it in house, it does not really cost a lot of money.
Tweak your Rates
Increasing your percentages is one of the many affiliate promotions that does cost a little bit of money, but it is possible to minimize the impact to your bottom line. If you are going to pay your affiliates more, you can offset some of the costs by raising your prices. Requiring a minimum amount to cash out is also a great way to save. $100 is a fairly common figure these days. This does more than dramatically reduce the amount that you have to pay out, it minimizes the amount that you have to pay. A large number of affiliates in your network are probably unlikely to ever sell more than $100. You can save a bundle in nickels and dimes. If you would like to offset the cost of a rate increase, introducing reasonable payment limitations is one way to do it.
Bars have happy hours, why not offer a happy month? Your rate increases do not have to be permanent, simply make the announcement that one month from now all affiliates will be paid at a higher rate. This will really get the affiliates selling and has the potential to pay for itself. Remember, spending money does not necessarily cost you money. Affiliate promotions only cost if your bottom line is affected.
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Category: Affiliate Promotions
Writing by Brick Marketing on Sunday, 27 of January , 2008 at 9:07 am
Affiliate promotions are a great way to inject a little bit of extra life into some affiliate networks, but from time to time you will get people that are resistant to them. You even get people that will claim that they are ineffective. The truth about affiliate promotions is that they are not that easy to pull off successfully. Think hard about the strategy of your affiliate promotions and you will be on the right track.
Affiliate promotions are designed to motivate an affiliate network. In order to do that, you are going to need to be in touch with your affiliate network. Affiliate promotions cannot work if you are unable to successfully communicate with your sales force. You cannot motivate people if you cannot reach them. Announcement of affiliate promotions is therefore a crucial part of the overall strategy.
Do your affiliates read your newsletters? Some of them probably do, but there are probably just as many that do not. Don’t take it personally, we live in a time when a lot of people don’t like to read. There is a better than average chance that your affiliate newsletters are ending up in the junk mail folder unless you have invested some serious time and effort into producing something that your affiliates will enjoy reading. It is for this reason that affiliate newsletters cannot be the only means of announcing your affiliate promotions.
It is crucial to have a secondary means of communication. How about a banner ad? While people are fairly well conditioned to banner ads and skyscraper ads and tend to miss them, a well placed banner or skyscraper on an otherwise advertising free affiliate home page is a great way to attract their attention.
Make your announcements early, but not too early. Three weeks is probably enough lead time for your to build up awareness about your affiliate promotions. Too much lead time and the momentum will die. Not enough lead time and you will never be able to build up enough momentum. Once you start promoting affiliate promotions, you need to keep doing so until they are in place.
Do affiliate promotions really work? Of course they do, but there is some hard work behind any successful affiliate campaign.
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Category: Affiliate Promotions
Writing by Brick Marketing on Saturday, 19 of January , 2008 at 9:01 pm
What can you do if your affiliate program seems to be stuck in a rut? Poor affiliate performance can indicate a number of different problems with your company or with the program itself. In many cases, affiliate promotions can be a way to get the program performing again. Before you start thinking about affiliate promotions, however, you do need to locate the source of your problem.
There is a very simple way to determine the cause of poor performance in an affiliate program; compare your sales. Take a long hard look at your website sales and compare those to your affiliate sales. Have your website sales diminished in recent times? If they have, your problems could run more deeply than your affiliate program. Maybe your product is out of date and no longer desirable. Perhaps your site is just not selling it well enough anymore. Another competitor might be offering the same thing for less money. Get back on top of your business intelligence and don’t worry about affiliate promotions.
If your website sales have been healthy then it is clear that you do not have a marketing problem and your problems are indeed affiliate related. You need to motivate your sales force, how about some affiliate promotions? Depending on how flat the program has come, you may wish to work some permanent changes into your program. Raising the percentage that affiliates can earn is a great way to motivate them again. A good promotion would be to increase that amount even further for a limited period of time or to offer a prize to the person that is responsible for the most sales.
Affiliate promotions are an excellent way to get an affiliate network heading back in the right direction. Use your affiliate newsletter to make the announcement.
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Category: Affiliate Promotions
Writing by Brick Marketing on Friday, 11 of January , 2008 at 10:41 am
Affiliate promotions are a great way to get your affiliates to work harder, but they are not much good if they do not get the message across. There are all kinds of ways that you can announce your affiliate promotions, but it will only work if your affiliates are actually reading your communications. This will depend largely on how communicative you have been in the past and how spammy that communication was.
Everyone has seen an affiliate site or network that is guilty of over-communication. You know what I am talking about, sending more emails than their members will ever possibly read, bombarding inboxes when they really have nothing useful to tell people. If you have bombarded your affiliates in the past, you will need to get a little creative about getting the message across.
Don’t limit your announcement to your affiliate newsletter. If your affiliates are not reading your affiliate newsletter then it represents a wasted effort. By all means include an article in your newsletter, just make sure that you publicize your affiliate promotions in other ways. A press release is a great way to get the ball rolling. Hit your entire safe-list with information about the affiliate promotion and make sure you include any exciting news in the subject line. People often determine whether they will read an email from someone that they do not know, from a subject line alone.
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Category: Affiliate Promotions
Writing by Brick Marketing on Sunday, 30 of December , 2007 at 9:56 pm
If your affiliate network is not performing, don’t despair. Sometimes, all it takes is a little push in the right direction. Affiliate promotions are a great way to get things moving. There are literally hundreds of options for promotions, use whatever you have the budget for.
Direct rewards should see more sales across the board. Boosting percentages for a limited period of time can inspire a lot of action in your network.
Competitions tend to promote more action from those at the top of pile. They are unlikely to motivate people at the bottom unless there is some sort of consolation prize.
Sample products can be great for your more active affiliates as can gift vouchers for your online store.
If your affiliate network is stagnant, why not breathe a little extra life into it with a good affiliate promotion.
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Category: Affiliate Promotions
Writing by Brick Marketing on Monday, 24 of December , 2007 at 9:18 am
It is the holiday season now, so I won’t keep you too long. The New Year is a great time to start ramping up your affiliate efforts and affiliate promotions are a great way to do that. A great way to give your affiliates a boost for the New Year and to improve your bottom line is with an affiliate contest. Contests are great affiliate promotions because they really don’t cost that much to implement. Use your judgment as to whether you want to award cash or prizes or a combination of each. Great prizes that you can send without shipping costs would be gift vouchers. If you don’t mind paying shipping, how about a new gadget of some kind. iPods are always popular, they are small and would not cost that much to send.
The trouble with contests as a potential affiliate promotion is that they only really encourage top performers. That is why I tend to to put up a few consolation prizes as well. I good way to work it is with a most improved prize, you don’t have to be so strict about who you give it to. If you see an affiliate that has really been working hard then give it to them. The point to the most improved prize is that it serves as a powerful motivator for those affiliates that do not really have a chance of hitting the top sales figures.
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Category: Affiliate Promotions
Writing by Brick Marketing on Saturday, 22 of December , 2007 at 12:33 pm
An affiliate program is a great way to promote just about any commercial website. The beauty of affiliate programs is that the costs are result specific. Unlike an advertising campaign, where you pay by the amount of people that view ads, with affiliate marketing, you only pay for sales. Gear the percentages correctly and you will stay in profit regardless of how many sales you make.
Affiliates may in fact spend advertising in earning their commissions. While it would not be financially feasible in most cases for them to directly advertise your products, in promoting their own sites, there is often a knock-on effect.
The trouble is that affiliate marketing programs often hit a wall once they have been around for a few years. They will grow to a certain point and can be enormously profitable, but growth does tend to plateau after a while. This is perhaps the only notable drawback to affiliate marketing programs. As more people connect to the Internet and get involved in affiliate marketing, we can expect to see longer periods of growth, but eventually the same things are likely to happen. Lack of network growth does not equal lack of profitability. It is still possible to turn a very respectable profit and see positive sales growth without network growth. Some marketers even seek to restrict the number of affiliates in their network once they reach a certain point so that they can focus on their more productive members.
Affiliate marketing programs can be tremendously profitable and extremely rewarding, no matter what side of the equation you sit on as an affiliate or retailer.
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Category: Affiliate Promotions
Writing by Brick Marketing on Sunday, 9 of December , 2007 at 2:02 am
Affiliate promotions are a great way to get your affiliates selling and boost your affiliate productivity. If you are finding that the performance of your affiliates is lackluster at best, why not up the ante. Throwing an extra incentive or two in the direction of your affiliates is an excellent way to make them more productive. These are just a few of many affiliate promotions techniques:
Tiered commissions structures - Pay more money to affiliates that make the most sales. If they see that they are going to be able to earn a few extra percentage points if they work, they will make the effort.
Sales competitions - This is a very low cost method. 1st, 2nd and 3rd prizes for sales in a given period. You can reward your affiliates with cash, but products make a nice incentive too.
Bonus season - Boost affiliate commissions around key events when sales tend to be more productive. Adding a few extra percentage points in the time leading up to Christmas will have them chasing the dollars.
There are, of course, hundreds of ways that you can boost your affiliate productivity through affiliate promotions. If you need advice about your affiliate marketing program or are looking for some reliable affiliate promotions techniques, do not hesitate to contact us.
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Category: Affiliate Promotions
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