In this little guide, you’ll learn how you can set your ecommerce business up with an affiliate program.
You’ll also learn how to start affiliate marketing and how to find the best affiliate for your ecommerce business.
Some of the best affiliate marketing websites promote products and services through affiliate networks. Affiliate networks are a fantastic way for you to attract high-value affiliates who can drive a significant amount of traffic to your website.
Starting an ecommerce business is hard. Having an affiliate program can be a great way for you to grow your business, without any extra effort on your part.
A step-by-step guide to setting up an affiliate program for your ecommerce store:
Step 1: Setup Affiliate Tracking
The best way to get yourself setup with affiliate tracking is to join an affiliate network.
These networks have tracking systems already setup for affiliates and merchants so you know exactly what’s going on with your affiliate marketing program. Typical affiliate tracking information includes things like sales generated, clicks generated and which affiliates referred what.
Affiliate networks are online marketplaces where affiliates can find you and apply to start promoting your products. They act as the intermediary between the affiliate marketers and the merchants (in this case, you).
These networks make is easier for you to find affiliates. You also don’t need to go through the hassle of setting up your own affiliate tracking (which can be a pain in the ass).
It’s worth noting that most affiliate network charge monthly fees and some take a small percentage of your sales but in most cases, it’s something that is well worth it!
Here is an example of the affiliate network, Share A Sale:
One of the biggest benefits of using an affiliate network is that they have an established network of affiliates that are looking for new things to promote.
They also tend to get a fairly high amount of new affiliate sign ups because these networks are well known and they tend to rank highly in the search engines.
Step 2: Find Your Ideal Affiliate
The next step is to find great affiliates that can successfully promote your products.
Again, using an affiliate network is a great option here because it automatically put you in front of some great affiliates who can promote your products.
It’s important to join the right affiliate network as different networks have different demographics of affiliate’s that promote all sorts of things.
Here are some of the most common affiliate networks:
Don’t be afraid to target a specific niche. Doing this can help attract affiliate’s that know exactly how to promote your offerings. This also applies to you if your products are of a specific niche.
For example you may own a ecommerce store that sells fitness equipment.
Step 3: Reaching Out To Affiliates
Another strategy you can use to get affiliates is to actually start reaching out to them. This can be especially useful at the start when you haven’t got any affiliates and your affiliate network listing scores aren’t high (because nobody has started promoting your stuff yet).
Find other stores similar to yours and start reaching out to some of the affiliates. Marketers will really appreciate the effort made to reach out to them personally.
Going with the same example as above, let’s say you own a fitness store that sells fitness equipment. You can reach out to stores that are more established in your niche and ask them to become affiliates for you.
You can also find semi-related sites and partner up with them. For example you could partner up with a gym or a company that sells protein shakes and other fitness foods.
Step 4: Decide Your Commission Percentage
The final step to setting yourself up with your very own affiliate program is to decide how much you’re going to pay your affiliates per sale.
If you want to find good affiliates, it’s important that you offer a competitive rate of commission on your products, otherwise nobody will bother signing up to your affiliate program.
Some stores that are just starting out offer up to 50% commissions on their products. This is a great way to get your first few affiliates in.
Once you establish your affiliate program you can reduce to commissions to make your company more profitable.
It’s worth noting that your affiliates aren’t just bringing you one-off sales… they’re bringing returning customers. When a customer purchases a product from you once, they’re up to 70% more likely to buy from you again.
To summarise, it’s worth paying higher commissions to get some great affiliates to promote your products. You’ll quickly make up for the cost through the lifetime value of each customer. You just need to make sure you build that customer relationship and actually remarket to them!