There are many benefits to becoming an affiliate and promoting products that earn passive income. Some of the benefits include:
Affiliate marketing sales account for 15% of all digital media revenue at nearly 12 billion dollars in 2019. That means there are a lot of opportunities to be an affiliate and promote goods, services, and products to your customers. How do you choose the right affiliate program for you?
Here’s 5 things to look for when choosing an affiliate program.
- Percentage of commission- Your commission is based on a few factors. Generally, affiliates earn a flat percentage for the sale of a product. That commission may change if there is a large volume of sales or specific goals of a sales campaign are met. Typical percentages range from 5% to 30% so it’s important to find affiliate programs that pay out higher percentages. Additionally, some affiliate programs pay out over and again anytime one of your customers makes a purchase. By tagging them and anchoring their connection to you it is possible that you can continue to earn commissions any time someone you referred makes a purchase.
- Availability of promotional products- The benefit of affiliate marketing is making money by promoting products someone else has created. You save time, money, and other resources by simply endorsing something you support and recommend. Choosing affiliate programs that offer a wide variety of products and supportive promotional materials makes it easier to consistently make offers to your community and generate sales.
- Accessibility to the product owner- The best affiliate programs are between providers you know, like, and trust. Having a first-hand relationship is ideal but not required. Having access to the product owner means you’ll be able to reach someone if there is a customer service need. While you may not always need access to the owner directly, there should be a clear channel to connect with them if and when you need to.
- Customer services practices of the product owner- If one of your customers is dissatisfied or needs assistance, they will look to you since you made the sale, so it’s valuable to know and trust you’ll be able to reach someone if there is a problem. Knowing what the policies and procedures are ahead of time can save a lot of headaches down the road.
- Payment practices of the product owner- Knowing how and when you’ll be paid is important. After all, this is the main reason you are promoting their products. Make sure you fully understand how often and by what means the product owner pays out affiliate commissions.
Choosing an affiliate program is much more than loving a great product. Pay attention to the back-end issues that matter most when joining a program. Make the best decisions for you and your customers to ensure you connect and align with the best affiliate programs for your needs and expectations.
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