As you build your business, you definitely need to attract more customers to grow. I mean that’s why you’re busy building sales marketing relationships and creating content for social media, but what you’re not doing is letting other people bring new customers to your store for you and in this article I’m going to do that. I’m going But I’ll remove the curtain, that’s just how to do it. [ Affiliate Marketing Program ] 

 

 

 

I would be you if you had the tools and knowledge to build and grow your own business. In this article I am really excited to share with you the ins and outs of affiliate marketing, one of the most effective ways for you to have a complete sales and marketing team of real people who are on your online store without any upfront costs and complications. Drive traffic. is driving. Hiring employees.

 

What is Affiliate Marketing ?

If you have clicked on this article then you probably got an idea of what Affiliate Marketing is, but to put it in a nutshell, Affiliate Marketing is an incentive structure that encourages people to engage with the content. Usually social media influencers. Encourages creators and website owners to recommend you to their audience. Instead of earning a percentage. In other words, any actual sales you bring in will make money unless they help you make a lot of money first.

That means affiliate marketing is based on mutual incentive bidding, you want people to drive your business and products to you and those people want to earn extra money by making a percentage of the sales that they generate in practice,

You provide a way for people who sign up to receive a special link so that they share that link. When their visitors click on it and make a purchase on your website, the sale is recorded for both you and them in one dashboard so that everyone knows the result and commissions are automatically paid periodically Is. Is. People don’t need to sign up and share links and filled in affiliate links do a lot of work in their favor. The program is set up so that you don’t have to spend much time looking after the kids and the best part is that you don’t pay your partner a dime, you pay them only when they understand you. But because affiliate marketing is commission based, first of all you have to be sure of your price and more importantly your profit margin is big enough that you will remain profitable even after paying the commission.

There is a concept called the double keystone that you can use to evaluate your pricing. A double keystone means that the minimum value of each of your products doubles at every step between manufacturing and the customer receiving it. Now it can only double if for example you are making a product that you are making a dining room table and selling directly to the consumer on your website, double the keystone if it costs you ten dollars to make the product. The rule means you need to sell each for at least twenty dollars and that is the minimum.

 

But let’s say you have found a manufacturing partner to make your products and you not only want to sell directly to consumers, but you also want to wholesale to other stores. that they can sell for you too. If it cost you five dollars to make a partner it will at least double and you’ll be charged at least ten dollars less what you pay other stores to sell wholesale to them. At least twenty dollars and they in turn at least double and sell to your customers who buy from your store for at least forty dollars. As a cyborg this means you quadruple your cost when people buy sweets directly from you. Not reducing your wholesale customers By considering the double keystone rule as the absolute minimum you ensure that your margin is sufficient to be able to support an affiliate marketing program.

How to Make Affiliate Program

 

Now that you have priced your products in a way that can support an affiliate marketing program, let’s get into the good stuff of how to actually build a successful affiliate program. Since the incentive for your army of future allies is to make money, the first step is to make sure you create the conditions to make it attractive to do so.

 

Designing the Bare Bones of An Affiliate Program

Put yourself in their shoes. What they want is to earn more, so it stands to reason that you want to start structuring your program to promote the highest-grossing products for them because if that’s what they promote. The commission in return for the value will also be higher.

You can have a hundred different products in your store for between five dollars and five hundred dollars if we use the example of a ten percent commission that is paid to your future associates for a five dollar item or fifty cents per sale of fifty dollars. will be more attractive to earn. Five hundred dollar item. Of course you can absolutely enable affiliates to earn your commission on everything in your store, but this first step is all about creating a program that will be attractive to people who want to become one of your affiliates. want to sign up for.

Here’s a dig into some psychology. As humans are easily paralyzed by choice, we want things to be frictionless, so in terms of building an affiliate program we’re looking at the ability to be one of our partners quickly and effectively. want to be able to communicate, so this is the first step about making the program jump out of it. Eh potential affiliates are creating communication materials so that it is as possible for them to sell to you.

I’m talking about being able to have a landing page that communicates things like hey you love our products and earn up to fifty dollars for every sale you bring us to the best you can. Can download or get started fast which includes gorgeous product shots and copyable messaging that includes the ability to offer your audience first order discounts and freebies.

Shipping on orders over a hundred dollars. Because of the way photos of download packs can showcase your high ticket items, these affiliates are psychologically anchored to earn more.

You are also making their promotional work flow easier by creating copy paste double messages. Finally, with customer incentives like free shipping and first order discounts, you’re increasing the likelihood that their audience will soon place an order for both you and your affiliates to earn money.

So to summarize step one you are designing the bare bones of the program itself and want the communication material to be engaging and engaging to your future army of allies and more importantly proactive Would like to continue promoting our products. audience.

 

Step two is about building the actual commission structure and validating it with some math.