Classifying your pay-out scheme for your affiliate program may be as hard as choosing your stock picks or as easy as solving a two-piece puzzle. Advertisers may clearly identify their goals and have a responsive landing page but determining how to fuel the exchange may be a different game.
Pay-out Scheme for your Affiliate must be determine by your business phase.
Here is an easy way to determine a puzzle-fit pay-out for your affiliate program
1. Start-up?- gain traffic and tell the market about your business= CPM
2. Already gaining traction?- push sales figures to the top= CPC+S
3. Challenged sales?- encourage affiliates by fractions= CPS
In this era of accelerated change, overwhelming complexities , and tremendous competition it is a must to find your way to get ahead of everybody. Now that the Internet has open up equal possibilities for everyone, knowing how to leverage and being able to uniquely reach your market is but a slightest edge to the rest of your competitors. The scalability of your business is no longer directly dependent to your physical location, your personal network, nor to your own effort of reaching the market. There has been a lot of ways on how to mark your niche and curve your own track race to wisely make it to the finish line of you goal. Here are some of the reasons why Performance-based Marketing is the next promise to your business success.
- Full commitment in delivering the identified results. Since Performance-based strategy is geared towards earning the benefits solely based on delivered goals, all efforts and ideas will be highly focused on arriving at the expectation. There will be less negotiation and there will be clearer straight-to-the-point way of determining if the agreed results has been achieved or not.
- No waste. There will be no room for wasted resources as advertisers will only be paying for direct outcome and not potential result.
- Leaner business model. Since the Affiliates will be the one to work on your sale goals there will be no need to hire a full house sales team to work on your sales target.
- Scalability. Strategically growing your affiliate partnerships would lead to a wider market reach thus, resulting to stronger product viability.
Today business growth is a game of strategy. With everyone’s equal exposure to every opportunity that develops, an identified fair advantage may not be exclusive at all. Being able to be in the know and competitively adapt to all kinds of changes is the new edge to having success in any business endeavor. Performance-based Marketing is a new way of adapting to the ever-evolving business approaches to serve a wider trend of consumers, reach a higher market value and grow your business to its full potential.
Affiliates or the Publisher are also considered as the “echoers” in the game Affiliate Marketing. They are the ones who already has an identified audience that are trusting and engaged to what they are saying. For Advertisers it is crucial to find the right Affiliates to grow their business with and to reach their target market. Finding Affiliates is like finding your business partner that aims to have a mutually beneficial relationship. Here are some of the tips on how to effectively look for your affiliates.
- Know the audience of your Affiliate. Before signing in a partnership ensure that the audience of your Affiliate is the same as your target market. Remember that your Affiliate’s audience will also be yours so it is better that you like what they already have at the first place. This would make all of the marketing efforts worthwhile and would deliver relevant results to what you expected.
- Have Affiliates who would actually buy and use the product themselves. This would bear genuine review and recommendation of the product since they are coming from first-hand experience of using it.
- Choose an Affiliate who already has a reputation on the kind of product that you have (e.g. camera to a photographer, make-up to a make-up artist, or a restaurant to a known foodie). The way that the audience see your Affiliate would be highly associated with the way that they would see your product so choose wisely.
- Be consistent across all aspect of the strategy to complete the success equation.
Advertiser’s product: Camera + Affiliate: Reputable Photographers + Audience: Hobbyist, Photography Students, Avid Photography Fans= Your Business Niche