The 7 Step Formula for Affiliate Marketing Success

hi
welcome to affiliate marketing in a
minute the video series designed to help
you get more customers
create more sales and make more money in
your online store
so is there a formula for affiliate
marketing success
are there key things that all successful
affiliate programs have in common that
you could learn from and apply to your
own business
now at shout out we're in the really
unique position of being able to oversee
thousands of different merchants
affiliate programs
we've gone in and analyzed our top
performing clients
to see if they leave clues as to why
they're so successful
and it turns out that all successful
programs have seven
key elements in common now the first of
these is
product exclusivity to be successful
running an affiliate program
you need to be the only store selling
that product
so whether it's a product you're
manufacturing or something that a third
party is doing for you and adding your
branding
your store has to be the only place that
people can buy it
the second part is that you only have a
small number of affiliates in your
program
somewhere between 25 to 100.
what we know with affiliate marketing is
that quality beats
quantity every single time so you're
much better off to have a small number
of passionate
highly engaged people in your program
than a huge number of affiliates
the third element is commission you need
to be offering a commission rate on
physical products of at least 20
so if you're selling shoes fashion
sporting products
health and wellness make sure that your
commission rate is at least 20
to keep your affiliates super motivated
to keep promoting your products
the fourth element is keeping it simple
we see a lot of companies make this
mistake when they launch their affiliate
program they get
really overly complex reward structures
and
algorithms as to how people get
remunerated
keep it simple for affiliates the most
successful programs offer a flat rate of
commission across
every single product in their store so
it's really easy for people to
understand
the next element is support you don't
need to have a dedicated affiliate
manager
but you do need to make sure that you
are constantly supporting your
affiliates
with things like training product
samples information
banners social media images just keep
information and support consistently
flowing to those affiliates in your
program
the next key element is having a strong
social media presence
it's important that you've already got
one as a business
and that you'll start using all this
fantastic user generated content
created by your affiliates on your
social media channels
it's really going to take your affiliate
success to the next level
and the last element is reliable
tracking your affiliates are trusting
that
any sale that gets referred your way
will get properly tracked and that they
will get paid the commission that
they're due
so you need to make sure you have
professionally branded dashboards
they can log into and see in real time
the success of their promotions
so you now know the seven key steps for
successful affiliate programs
we hope you find this information really
valuable and encourage you to start
taking action on it to start growing the
sales of your online store