Affiliate marketing is a fast-growing scheme that is taking the Internet world by storm; here are 3 steps to success.
What is an affiliate program?
There are four key players to an affiliate program; the customer, you the affiliate, the network and the merchant/s. Primarily, you are promoting the merchant’s products or services and they give you a commission on the sales or leads you produce. The network is the middleman who has a bank of merchants so you have more chance of conversion. There are various ways that you can participate with affiliate programmes either through an existing website, set up a new website, email campaigns, PPC and many more.
3 steps to affiliate marketing success:
1. Choose the best affiliate program for your niche.
There are thousands of affiliate programs on the market with different products and services on offer. It is important, therefore, to choose a program that suits your niche. For example, if your website or blog is about personal finance and financial help there is the option of partnering with a payday loan affiliate program.
2. Drive traffic to your website
Once you have signed up to an affiliate program, and have your website all ready to go, the next step is to drive customers to your site. There are various methods to drive traffic to your site and it depends what budget you have. There are free, organic ways to increase your ranking on Google, increase your social media reach etc. or there are the paid methods such as Google ads.
It is no secret that the more people that visit your site, the more people that will convert to sales which is why optimizing your site for conversion is another key factor in affiliate marketing success, leading us to step number 3!
3. Ensure traffic converts to a sale
To ensure that the visitors on your site convert into a sale you need to make sure your website is appealing to your niche. It is also important to make your site user friendly so that people know exactly where to click to get what they want.
With affiliate programs such as a payday loan affiliate program, as mentioned earlier, the conversions come in the shape of the lenders who will buy your leads, for a price dependent on the quality of the leads. They tend to work best when run through a Ping Tree system.
This system sends your leads to the network’s bank of lenders whose commissions are on a tiered structure. The lead is sent to the highest paying lender first, who will either accept or reject your lead. This continues down the Payday Loan Ping Tree tier until the lead is accepted. Once it is accepted you receive a commission.
The affiliate program will provide you with a unique affiliate id, as well as log in details to your tracking portal, where you will be able to view detailed statistics including how many visitors you have had, how many sales you have produced and how much commission you have earned.
If you partner with a reputable program then you will be able to choose how often your commission is paid out to you whether it be monthly, bi-monthly or even weekly.
What makes a good affiliate program?
There are several points to factor in when searching for a good affiliate program. The program should offer high commission payouts as well as maintaining a good reputation within the industry. This reputation will have been gained through building good relations with lenders and affiliates whilst avoiding heavily remarketing your data.
The program will keep you informed of all updates including a notification when a new merchant is added to the network. Another important factor to consider when choosing your affiliate program is how much of the commission you take home with you, obviously the more the better!
Feel free to leave comments below, I will be happy to answer any questions!
Amy Wilde is a marketing professional, currently embroiled in the world of , a ; using her wisdom and inside knowledge to enlighten people on modern day online moneymaking ideas as well as pros and cons of the payday loan industry. Follow on Twitter @quiddi