Affiliate marketing, which is described separately in a blog, is one of the best ways for bloggers to make money online. But even though it is an important source of revenue, it is still run by companies that strive to quickly increase their sales and customer acquisition.
Starting an affiliate marketing program can cause a lot of headaches, challenges, and frustrations for the company that launches the program. However, once you understand the basics and keep a close eye on the right steps, you can start and run a successful affiliate marketing plan to make blogging easier.
What is an affiliate marketing plan?
To understand what an affiliate marketing plan is, you must first understand what an affiliate marketing is:
A membership transaction is a performance-based transaction in which the company rewards them in cash and in kind to members of marketing agents who have successfully presented their business through a membership transaction program.
As explained in the definition, referral links shared by affiliate marketing agencies on their blogs and social media accounts come from affiliate marketing programs so that people can click and / or successfully register, take specific action, or purchase products or services.
In short, an affiliate marketing plan is a marketing plan in which a company sells its products with the help of many individuals or companies, and each successful behavior receives a certain commission.
Why start an affiliate marketing plan?
Starting an affiliate marketing plan is one of the fastest ways to grow your business quickly, especially for new products that people don't trust or understand.
Affiliate marketing programs are usually implemented by Internet companies because they can easily inspire many people to click, read eye-catching sales copies, and immediately call at the end, and then persuade one person to make a purchase through television. .
Hundreds of bloggers who have joined your affiliate marketing plan tend to write deeply and passionately about your product or service, so a link that links to a product on their website has not only caused widespread article awareness, popularity, and trust. But it can significantly improve the SEO ranking of your website.
By running an affiliate marketing plan, you can get a package of marketers who will actively promote your product and you will only receive payments after the product has been successfully sold.
Types of trade commission structure for members
Depending on the type of business you run, there are four main types of commission structures for affiliate programs. These structures are:
1). Cost per sale (CPS):
In this commission structure, you must pay a fixed percentage or price to the affiliates for each transaction that occurs on the website.
2). Cost-per-click (CPC):
In this commission structure, you pay for each successful click on a website.
3). Lead Price (CPL):
In this commission structure, you must pay for each successful application submitted through the web form.
4). Cost per operation (CPA):
In this commission structure, you have to pay for each successful action, such as downloading a mobile application, registering by email, etc.
As mentioned above, your company's commission structure for running affiliate programs depends to a large extent on the type of business you run. Even if there is no right or wrong commission structure, each has its pros and cons, so in the long run, testing and researching the most effective methods is very important to your business.
How to create an affiliate marketing plan with WordPress
When creating an affiliate marketing plan, you need to decide whether to run it internally or externally. Its internal launch uses add-on plug-ins that can be installed on the WordPress website, while outsourcing requires the use of a popular and highly advanced membership trading platform that is widely used.
Step 1: Create the product or service that people want to buy
No matter how many affiliate marketers are trying to promote products that no one wants to buy, sales are still weak.
When creating an affiliate marketing plan, you must first create the products that people really want to buy. It may be a new version of another successful product and may now be cheaper and more valuable than a copy.
By running an affiliate marketing program with products or services that already have a larger market, you can ensure that the program runs successfully within one to two years.
Remember: Avoid promoting bad products, as this could damage your company's reputation, lose a lot of money on unnecessary promotional activities, and cause huge refund flows to customers. Now all the trust they have lost has been lost. Maybe you have a commercial use.
Step 2: Choose the best platform or business program add-on for you
The next step is to select a related add-on to be installed on your WordPress site, or an add-on to be maintained on an external platform.
There are pros and cons to choosing a platform or add-on, but the final decision is up to you.
If you choose a platform, it will become more transparent and ensure that data is almost never lost and very accurate. If you choose to use the add-on, a website failure can cause you to lose all your data overnight, especially without a backup.
Traveling on a platform costs a lot of money and is usually the best and most popular method.
Step 3: Find several partners to promote your products or services
Now that you've created an affiliate marketing plan and have the products or services that people want to buy, you can continue to promote and attract thousands of affiliate marketers.
If you don't have enough budget to promote a member trading plan, you can choose to create a member trading plan on a single platform instead of hosting it internally, because these platforms typically register thousands of membership merchants on their websites. You are always looking for new products with fast sales and high commissions.
Step 4: Monitor and rigorously manage your affiliate marketing plan
Once you have created and recruited a minimum number of affiliate marketers, you should closely follow your affiliate marketing plan to ensure that everything runs smoothly.
A very important reason for close monitoring is fraudulent activity. People definitely want to use this system to make more money, so you need to be careful to get rid of these people immediately.
Affiliate marketing platform
Your affiliate marketing program can run several great affiliate platforms:
1). Commission junction:
This is one of the most popular trading platforms for members in the world. Many large companies like Hostgator, Ipages, etc. It operates its affiliate marketing programs through this company.
Just as thousands of member trading programs run on the member trading platform, there are thousands of marketers promoting the products that appear on that platform.
Companies from all over the world can register on the platform and compile their membership business plans.
This is another member trading platform, although much smaller than Commission Junction and many other member trading platforms.
Like Commission Junction, people around the world can sign up for GrowSumo and create their own marketing plan.
This is another excellent trading platform for members. People from almost all over the world can register on this platform and create their member business programs.
It's as popular as Commission Junction, but since people around the world can't easily sign up to the platform, it's saved until the end. They fear filtering out their potential branches, so thousands of people (especially from certain parts of Africa) are working hard to get approval for the platform.
Note: The member platforms listed above typically charge a higher initial registration fee, which can be up to $ 600, and then charge a monthly fee for further use.
WordPress membership add-on
Some membership add-ons that you can install on your WordPress website instead of registering on a member platform include:
1). WP member:
AffiliateWP is one of the best affiliate plugins on the web. It provides various features that a membership platform can provide, and you have to pay a one-time fee to install it on your website.
The great benefits you will get from this include:
Follow members accurately
Unlimited number of members
Management of individual members
Easy member registration
Real time management
Adjusted reference exchange rate, such as a percentage or uniform exchange rate
2). WordPress Member Manager:
This is another great membership add-on, but with fewer features than AffiliateWP and other membership platforms. You only pay a one-time fee of $ 39 for the site.
Initiating an affiliate marketing plan is undoubtedly a good way to actively increase revenue from products and services, but if you fail, it can cause a lot of problems and cause huge losses of money and customers.
If you want to set up an affiliate marketing plan but don't know how to implement it, you can follow this guide or hire an expert to help you.
What do you think of this article about starting an affiliate marketing plan for your business in Nigeria, Ghana, Kenya, South Africa, Africa or anywhere in the world? Let me know by leaving a comment below.
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