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"Affiliate
Marketing: Getting Bigger and Better"
In a recent survey
19% of leading Internet retailers revealed that 31% or more of
their online sales came through their affiliates.
Of those surveyed, 22% said that affiliates are responsible for
conversion rates of 5% or more! The important factors for
Affiliate Marketing success centers around recruiting quality
affiliates and operating a very transparent program.
Affiliates want to be sure you're not using spyware or other
technology that might irritate their clients or prospects.
A much better model to follow is to let prospective affiliates
know that you must approve them, rather than simply accepting
anyone and everyone as an affiliate.
That's not say that BIGGER isn't BETTER. It is and it
isn't. A recent survey of online retailers operating
affiliate programs revealed that 12% operate an affiliate
program with more than 10,000 affiliates.
From the survey, the results showed 35% with less than 250
affiliates and nearly 25% with 1,001 to 5,000 affiliates.
The reason for this recent surge in Affiliate Marketing interest
is the continuing consumer concern about email spam and privacy
issues. And there is the cost of paid search marketing.
Here's what's working best: Higher commissions paid
to affiliates who perform better is a tactic used by 65.2% of
those surveyed. Another tactic working well is to offer
early access to new products to the better-performing
affiliates. This is working for 75.5% of the surveyed
online retailers.
Making your affiliates accountable is also important. Keep
your flow of information to them consistent and timely.
Ask them what they are using to promote your product.
Provide them with "tools" and training which directs them
step-by-step to take a proactive approach to marketing your
products and/or services.
There's no question about it. Affiliate Marketing is
getting bigger and better.
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© MMVI Michael Penland. All Rights Reserved.
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