subject: Tips For Effective Affiliate Marketing Management [print this page] Tips For Effective Affiliate Marketing Management
As the US affiliate marketing industry is expected to grow to $4 billion by 2014 (as per Forrester estimates), affiliate marketing will become a major marketing tool for most US companies. However, this rise will also necessitate better affiliate marketing management strategies so that the program delivers good results. Affiliate Marketing Management: Useful Tips Here are some useful tips that companies can use for effective affiliate marketing management: 1. Keep informed: Inform your associates about your company's latest developments, be it through newsletters or forums. 2. Training: Provide training, content, discounts and promotional items to help drive sales. Providing content ensures control on information dispersal and their accuracy. Lack of support only results in decreased effectiveness in affecting sales. Besides, supporting your associates also attracts better quality affiliates for your business. 3. Honesty: Promise only what you can deliver. Although your associates may have their own questions and demands, always offer honest answers; be honest with promotions as well. 4. Respond promptly: Answer their questions promptly, preferably within 24 hours. This can be done by creating a forum, where older associates can interact with and answer newer associates' questions. 5. Consistency: Be consistent in your actions. For instance, when you update your associates with regular newsletters, be consistent with its frequency. You can start with a monthly newsletter and graduate to weekly ones. 6. Track tax records: Keep track of your affiliate's tax records so that an IRS audit does not result in fines and penalties for you. You can all tax-related information in the W9. It is best not to rely solely on your associate for this information, as any inaccuracy will be your sole responsibility. You can use specialized software to track this information. 7. Track sales: You can track your affiliates' sales records (with a simple software) to identify the top performers. This will enable you to reward top performers as well as get insights into factors that convert visitors into buyers. You can also offer small tokens of appreciation or incentives, while they gain the distinction of being top rated. Besides, you must never assume anything. Talk to your associate to gauge his understanding of the program; and provide guidance, if required.
