Do you consider your affiliate program to be good or bad? Many of us like to think that we are running an effective program but often, the results don’t really back this up. One question that Lee-Ann often gets asked by clients is:
“What makes a good or bad affiliate program?”
In this week’s episode of Affiliate Drive Time, Lee-Ann decided to answer this question and give examples of what makes a program bad and what makes it great. Check out the video to get some advice on how to grow your program and improve the way that you are operating.
What is a good affiliate program?
For an affiliate program to be considered “good” or “successful”, it needs to be growing. Your program needs to be meeting the objectives that you have set out and almost be paying for itself. Is your program showing net profit month on month in terms of the ROI of your spend? If not, you could find that you are spending more money than you are making without seeing any positive results from this.
Often, a good affiliate program is obvious – it is making a profit and it is growing for all to see.
What is considered bad?
Everyone has their own opinion of what a bad affiliate program is, and Lee-Ann believes that her opinion is slightly different to most. A program that has become stagnant is often one that isn’t performing well and can be considered to be a “bad program”.
Some key factors to look out for include the fact that the program isn’t reaching the targets set out each month and that it isn’t growing overall. If your program isn’t being functional and helping you to achieve your goals or grow your brand, you’ll find it difficult to proceed. Often, a bad program doesn’t reflect on how many affiliates you have but more so on a broken strategy.
How can you improve your program?
If you think that your affiliate program falls into the “bad” category, then you may be concerned and rightly so. The truth is that everyone wants their affiliate program to succeed, otherwise the profit starts to dip.
If you want to improve your program, you should try to utilise your affiliates more efficiently in the acquisition channel. You should also use your affiliates to improve repeat custom buying.
The truth is that your strategy is going to be different at every stage and this is true for a range of different programs. It’s all about learning and improving upon what you already have in place to grow your program overall.
Don’t miss next week…
Lee-Ann will be back with more tips and tricks in next week’s episode of Affiliate Drive Time. You can subscribe to our YouTube channel so you never miss an episode and follow our social channels to get the latest updates.
Put these tips to good use and you’ll see your program grow to new heights.