Effective Affiliate Program Management Part02

Friend, welcome back to our new article series " Effective Affiliate Program Management " which will help to improve your business. Last time we talked about how to define an affiliate program, or affiliate system? If you missed it, click here to get it.

So What Makes Your Situation Any Different?

Friend, what we're going to look at now is what to do with your affiliates to try and hit and exceed that ten percent promotion rate. Once again, if you’re not sure about getting the affiliates in the first place and maintaining them doesn’t interest you right now, not to worry.

The moment you begin to build your list and launch products all of this will become relevant.

Continuing with management of affiliates, you might be surprised to find out it's not all that complicated and relates closely to other forms of resource gathering, from lists, to customers, joint ventures and the like.

You’re Making Money, Not Losing It Dashing the Affiliate Doubts

We're going to jump ahead now, and start to build up a picture of the ideal affiliate program, with a view to getting your affiliates promoting. The rest of this report contains some fundamentals, so keep reading along with us even if you don't have a system set up yet, because it will provide solid knowledge base and assist you in understanding what your software needs to be capable of.

Friend, so where do we start with affiliate marketing?

Well, the first and most important thing I want to get out of your mind is that you're losing money, or the amount of money you gain by putting in the extra time and effort to run an affiliate program isn't worth it. I want to show you a few more examples and sum it up with a couple of sentences that should dash any doubts you have in your mind about whether this is all worth it or not.

Let’s look at a different example this time, one where the price and short term gains aren't quite so visible. Take a membership site. Lets say you're running it at a modest $15 per month. I could sit here and tell you that with 200 members that you referred yourself is $3000 per month. Not bad. A handy little earner there.

Friend, the problem comes when you start talking about giving 60% commissions to affiliates who promote for you. It doesn't seem like a good deal at all. That leaves you with a rather tiny $6 profit per sale per month.

I think this is where the whole affiliate program is a bad deal state of mind comes up a lot with the people I meet. That looks like a massive cut in profits, but lets say again that you have 150 affiliates, and this time, due to the lower price, and it being slightly easier to get people to part with their cash compared to a $500 product, 15 of your affiliates refer 15 members each that just happen to stay with you for a year.

That's a miniscule $337.50 extra per week. Now some might see that as not worth it, but let’s add that up. $1350 per month, or  $16,200 per year. Looks a little better now.

I could buy myself a 64" plasma screen with that, or 6 brand new top of the range computers. What would you buy with an extra $16k a year? Not a bad little earner for something that originally took your profit per sale down to a hardly impressive $6.

Friend, so here's the thing, and this applies to all cases I can think of. If it's viable to have an affiliate program, have one, because lets face it; a sale by an affiliate that cuts your profits on that sale by 60% isn't a 60% loss, it's a 40% gain on a sale that quite likely would not have been made without that affiliate.

The potential for this is huge, but we're done with examples for now. If that didn't persuade you that having a solid line of affiliates ready to promote for you is as important, if not more important than having your own list, nothing will.

Friend, look at it this way. With affiliate marketing you're kind of adding to the resources you have on hand, and your promotion power. As much as joint ventures and a big hungry and responsive mailing list are great, they're massively enhanced by a few hundred affiliates going for you.

To be continued

Friend, next time we'll look at management of your affiliates themselves. See you there

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