Affiliate marketing is the process of generating traffic or leads to your website by paying third-party publishers for referrals. It is often a cost-effective strategy that businesses use to drive sales or traffic to their websites or blogs.
If your business is need of more traffic & a robust lead generation plan, consider implementing an affiliate program. Here’s how.
Lead Generation: How to build out an affiliate program for my business
1. Figure out your goals.
Before you start building your program, lay out your goals and motivations. How many sales do you want? How much revenue do you expect to make in the first year? These are important factors in determining how to structure your program and what types of terms you want to offer publishers. If you’re looking to build a huge audience, it may be worth considering giving volume-based incentives with high margins rather than offering large commission rates on a few sales or conversions.
2. Determine your requirements and pricing.
After you know where you want to go, identify the requirements to get there. What kind of publishers do you want? What kind of content do they create? Who do they reach? How can they maximize their exposure on your site or app? What kinds of compensation plans work best for your business?
Once you have an idea of how to structure your program, establish prices that motivate affiliates while also ensuring a healthy profit for yourself or your company. You can use software to help calculate potential costs and set prices based on what other merchants are doing in the space.
3. Create content that helps affiliates succeed.
Once you’ve decided upon your terms and requirements, it’s time to create a successful program around them. It’s one thing to publish affiliate content online– it’s another for that content to actually help build traffic or conversions.
To start, list out the questions or problems you want visitors to your site or app to have and the daily/weekly/monthly actions you’d like them to take once they’re on your site. Then, create content that helps solves their problems and drive those actions– this will help affiliates succeed in promoting your offering.
4. Find affiliates for your program.
Once you’ve created the content, it’s time to start looking for affiliates to promote it. Word-of-mouth is a powerful force, so consider reaching out to people you know who may be interested in joining your program and spreading the word on their social channels, blogs, email newsletters, etc.
Other marketing tactics to consider include paying for or creating media that showcases your program and reaches relevant audiences (e.g., if you’re searching for affiliates interested in health & wellness or gaming apps, advertise on sites that reach those audiences), as well as specifically targeting ambassadors or workers who have reach within specific industries.
Lead Generation Growth Guide: Affiliate Marketing Plan
Now that your affiliate program is off the ground, focus on growth. Here are some tips to help you build a robust program that will send you thousands of leads and boost your revenue.
9 Ways to Generate More Leads With Affiliate Marketing
Here’s how to take your affiliate marketing efforts from generating hundreds of leads per month to thousands. When you have a larger audience, it’s easier to get more referrals and more sales — which means more profit for you! So if you’re looking for a new way to grow your business, read on:
1. Create an incentive.
An incentive could be anything from a free e-book or a coupon to a percentage of the sales they refer. Whatever it is, make sure it’s valuable enough to get them excited and talking about your company.
2. Run a contest or sweepstakes.
Running contests or sweepstakes can help generate leads and sales while also driving traffic back to your site in search of more information about this great new product/service you’ve launched.
3. Hire virtual staff.
If things start getting busy, consider hiring virtual staff to help manage some workload. A virtual assistant can help you run your affiliate program and offer customer support — which means you’ll be able to watch your business grow!
4. Create a list.
If you’re looking to develop relationships with other affiliates, create a list of all the publishers who are promoting your products/services across different platforms. Keep the list updated and use it to reach out to them.
5. Automate your efforts.
If you’re not sure where to start, consider automating some tasks in your business so that you can focus on growing and improving what’s already working. Here are some suggestions:
- Utilize email marketing software like Marketo to automate your email marketing efforts.
- Use a tool like Zapier to automatically move leads from platforms like Mailchimp into your CRM, so you can keep track of each lead and send them relevant emails as they move through the sales process.
Don’t lift a finger — Run your affiliate program with Virtual Assistants.
If you’re ready to get started on affiliate marketing but aren’t sure you want to deal with the time & effort it can take to build and manage your own program, consider using a virtual assistant service.
Virtual assistants can handle all the heavy lifting you need while helping you focus on building your business. After getting started, you’ll have a team of professionals doing the work for you. Best of all: they’ll take care of everything else while keeping costs low.
“Outsourcing makes the hustle better — because you’re not burdened with many/growing expenses that you’ll need to figure out how to cover and hit profit”
Focus on your growth & scale your operations
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