Marketing Video
Description
Vocal Characteristics
Language
EnglishVoice Age
Young Adult (18-35)Accents
North American (General)Transcript
Note: Transcripts are generated using speech recognition software and may contain errors.
How do affiliate programs work and how can I create one if you are looking to market your business than an affiliate program might be of help. But first, what is an affiliate program? It's a referral marketing strategy, which has become increasingly easy to track and monetize, thanks to commonly used e commerce software's. And how do affiliates work? Companies that serve the same market but with non competitive products, work together to drive traffic in exchange for a sales commission. For example, if a company that blog's about hiking where to become an affiliate of a hiking apparel company, the block could earn money by posting an affiliate banner on their website. With this, they can earn commission for any purchases made by their readers. How do you keep track in any formal affiliate model? There are inexpensive software's toe help. Like I Dev affiliate, a company offers their partner a unique URL that allows them to track all incoming traffic from their partners website. Depending on the software you use, which could be either free to $60 a month, you can get various tracking tools that provide stats to both partners. You can easily get to know how much traffic has been shared, sales generated and commission owed. Many tools even handle automated commission payouts. Depending on your agreement. Some affiliate programs require the purchase to be made on the customer's first visit to the website, but mostly there will be a 30 to 90 day cash to track any returning customers. Now let's talk numbers How much commission is paid. Commission payouts can vary greatly. It's no big deal to see percentages as low as 5% and they can even go up to around 20%. But 10% is the most common amount offered. Some companies offer tiered commissions earning you higher percentages of sales increase. There can also be varying amounts based on the price of each product. Many programs utilize PayPal to generate payments, either automatically or manually. But keep in mind when to pay out. Some companies do it monthly, and some do it once a certain minimum amount is achieved. And finally, how can you get started? Big retailers like Amazon and eBay offer affiliate marketing on their website. You can sign up immediately and receive everything you will need to get started. This includes a unique URL and graphic assets like banner ads of various sizes that you can add to your site. If you run your company and want to start with your very own affiliate marketing program, look for software's like I Dove Affiliate and begin offering affiliates the chance to earn commissions by selling your products online. Still have questions about affiliate marketing? Let's start a conversation below. We're here to help subscribe for more strategies to grow your business.