Monetizing your website with affiliate programs is one way to start making money to sustain your new hobby or business. However, it’s important that when you decide to rep for a company, that you think about the actual affiliate relationships. But wait… it’s all about making money, isn’t it?! Yes and no.
You need to have enough of a presence on the web for a company to considering engaging with you, but it’s a two-way street when it comes to affiliate relationships. For example, if you fit the mold of a particular company, you may make a great influencer; however, if you just don’t like their product, you probably wouldn’t be an effective affiliate partner.
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How to Evaluate Your Affiliate Relationships + Choose the Best for YOU
Just because you can make a little money from it, doesn’t mean that you should do it! Use your time effectively with a strategy that will double and triple your financial outcomes with the right affiliate programs.
The Product or Service has to be compatible with YOU and YOUR BRAND.
Would you use the product? Is it a product or service that would resonate with your readers? Chances are, if you would use the product, so would your readers. After all, they are following you for a reason! However, don’t begin your search for a ton of products you love – sit down and think strategy. What are some well-known brands that would bring value to your readers? What are some lesser-known brands that you LOVE that would bring value to your readers? It is all about value – value for your readers, value for the brand and value for you.
Guarantee the relationships is MUTUALLY beneficial.
Compensation is a big deal. Why spin your wheels working for 2% commission on a $50 product when you could make 10% commission on a similar $50 product for the same amount of work? Don’t undervalue your work. Take a good look at the day cookies, the commission rate and the conversion rates, both the 7-day and the 30-day if available.
Align your marketing strategy. Are your “best practices” compatible with theirs?
Do you have a set strategy for how you will market your affiliate relationships? Perhaps you are into writing blog posts focused around products and services to market directly to your readers. Blasting the relationship on social media may be better for your affiliate game. If creating “pinnable” graphics are your thing, perhaps your strategy centers around Pinterest. Whatever your plan is, make sure that your plan is compatible with the affiliate company. Just because you think it’s OK to post your affiliate link on sites that you don’t own (think social media or even a guest post on another website), doesn’t mean that it complies with their terms of service. ALWAYS, always read over the T+Cs carefully and contact the Affiliate Director or Administrator with any questions.
Ensure their Creatives match your Creatives.
Loving the product, but hating the marketing can be a major problem. I’m big on design, after all, I do own a website design firm, and if the affiliate company doesn’t have creatives that integrate seamlessly with my website design, it is kind of a deal breaker! Don’t just look at pictures. Read the captions and overlaid text on the images. Be sure it fits with your message before you forge the relationship!
Evaluate the overall maintenance of their Affiliate program.
The last thing you want is to pour your heart and soul into creating posts, marketing to your readers and driving traffic to the affiliate company only to have the program discontinued or out of funds to pay you. Do your homework on the actual management of the company’s affiliate program. If you email the Director of the program and you don’t get a timely response, it could mean that this may not be a relationship where your influence will be valued. Lack of response could also mean they are super busy – just be sure to go with your gut!
Still confused as to the right approach for your affiliate relationships? Let’s chat about. Schedule your FREE Discovery Call and let’s talk about the future of your business.