When you run your own internet marketing business, maximizing your return on investment (ROI) will need to be your top priority. In addition, the best way to do that is to motivate your sales force: Your affiliate marketing network.
Creating Sales Incentives
A small investment that can bring huge results is to incentivize your sales force with bonus offers. For example, assume you have 5 affiliate marketers in your network, each of whom brings in about $500 per week, or a total of $2,500, in sales for you. If you are paying 50% in commissions, then each marketer makes an average of $250/week in sales commissions.
Now, if you were to offer a $100 bonus each week to the marketer who had the highest sales, your average production per week per affiliate would likely go up as each affiliate marketer competed for the $100 bonus.
Cash Is King
Cash bonuses are a powerful incentive. But you can also structure your commission rates so that they are tired.
With this type of structure, affiliate marketers with lower sales receive a standard commission. However, as they achieve pre-defined volume levels, their commissions can increase. Again, this results in stronger sales for you with no additional work on your end.
For example, you offer to pay newbie affiliates a 30% commission. But if they sell more than $2,000 per week, you offer to increase their commission to 50%. This is going to make most of your affiliates work harder to sell more than $2,000 worth of your products so they can earn that extra cash.
Checking Up on Your Affiliates
As an Internet marketer, your reputation is your livelihood. But because you need to depend on affiliate marketers to serve as your sales force, you are at their mercy as to how they reach their sales objectives.
If they are dishonest or deceitful, or they treat their customers rudely or insensitively, it will reflect on you as well as them. After all, it’s your products they are selling.
It’s important to consistently monitor the way your affiliate marketing network interacts with your end-user customers. Sometimes it’s helpful to pose as a potential buyer to view firsthand how the interaction is handled. If you aren’t satisfied with the experience, you shouldn’t expect your customers to be either.
Getting Rid of Poor Affiliates
The great thing about using affiliate marketers as your sales force is that there are always others waiting in the wings to replace those you currently use. You can dump affiliates if they are being rude and disrespectful to their customers.
If you have to dump an affiliate, don’t sweat it: You can be in business and be friendly, but you can’t always be in business and be friends.