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You are here: Home > Internet and Businesses Online > Affiliate Revenue > The 10 Most Important Criteria You Must Meet to Attract Top Affiliates |
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Casual Articles - The 10 Most Important Criteria You Must Meet to Attract Top Affiliates
Inventory Management ell off dramatically after 60 days as affiliates tested the program and didn’t make enough money to justify their ad spends. They were gone. I was able to keep them by raising the commission, but almost lost them entirely because the program was not priced right coming out of the gate.For the smaller inventory intensive businesses, management of the inventory is a most important task for the entrepreneur. Unfortunately, it is not always understood. In many retail businesses, inventory is the largest asset on the balance sheet. Today’s technology allows even the smallest retailers to track their inventory and sales and to know what their customers are buying.One of your most important activities is planning your inventory purchases. Too often, little or no planning goes into inventory acquisition. Know what your customers are bu 5. You know the retailers customer acquisition number when I launch an affiliate program. Hard to imagine, but many retail merchants have no idea what they coul What are You Doing to Create a Thriving Business? As a long time affiliate program manager, I have been faced with the good, the bad and the ugly. In order to manage the customer's expectations, I've come up with 10 benchmarks they must first meet before I take them on. While I'd like to be a miracle worker and help everyone that approaches me, some situations just can't be helped without some fundamental changes in their business model.“That will never happen to me!” is a clich? many of us apply to a number of topics in our lives, yet many of us subconsciously take precautions to protect ourselves from unforeseen possibilities. We buy home insurance in case of theft or fire, we buy life insurance to protect our families in the event of our death and we buy car insurance in case we are in a car accident. Some of us even buy business insurance to protect our company. The problem is many of us overlook the biggest “insurance” we should be investing our time and money in from the beginning If your business meets these criteria you will be able to attract and sign up affiliates. 1. You are able to sell the product nationally or internationally. Localized products do not sell well in affiliate programs. Affiliates come from everywhere. Limiting the affiliate to a local market does not work. This means many kinds of retail product distribution models limited by territories do not work. 2. You are able to sell a unique product. This goes to the competition. When I hear the phrase: “Well… there’s really nothing quite like it on the Internet”, I know the prospective client has not done any online research. There is competition in virtually every segment of every product type on the web. Get used to it. There is competition for every dollar out there regardless of how unique you may think your retail product is. 3. You have a brand name or sell brand name products. Having brand names does make it easier to sell online. Having a branded category name is even easier. Does that mean you have to have a brand name to be successful… no. 4. You will be able to offer an aggressive affiliate payout. Brand names many times prescribe low payouts to affiliates. This makes getting affiliate buy-in difficult. I launched a national brand company with a really low payout after suggesting a much more aggressive customer acquisition number. The program started out well and then fell off dramatically after 60 days as affiliates tested the program and didn’t make enough money to justify their ad spends. They were gone. I was able to keep them by raising the commission, but almost lost them entirely because the program was not priced right coming out of the gate. 5. You know the retailers customer acquisition number when I launch an affiliate program. Hard to imagine, but many retail merchants have no idea what they could Want A Great Meeting? Consider Laughter! to attract and sign up affiliates.Did you know there are over 5500 laughter clubs around the world in over 50 countries? After September 11th, 2001, people just want to laugh more. Our country and world certainly have changed after that tragic and eventful day.Many meeting planners are requesting that even some of the more serious topics have some more humor and levity to them. If you are asking people to attend a 2-3 day meeting or conference, it not only has to have substance today it has to have some degree of fun and humor. Humor can help to illustrate key learning objectives 1. You are able to sell the product nationally or internationally. Localized products do not sell well in affiliate programs. Affiliates come from everywhere. Limiting the affiliate to a local market does not work. This means many kinds of retail product distribution models limited by territories do not work. 2. You are able to sell a unique product. This goes to the competition. When I hear the phrase: “Well… there’s really nothing quite like it on the Internet”, I know the prospective client has not done any online research. There is competition in virtually every segment of every product type on the web. Get used to it. There is competition for every dollar out there regardless of how unique you may think your retail product is. 3. You have a brand name or sell brand name products. Having brand names does make it easier to sell online. Having a branded category name is even easier. Does that mean you have to have a brand name to be successful… no. 4. You will be able to offer an aggressive affiliate payout. Brand names many times prescribe low payouts to affiliates. This makes getting affiliate buy-in difficult. I launched a national brand company with a really low payout after suggesting a much more aggressive customer acquisition number. The program started out well and then fell off dramatically after 60 days as affiliates tested the program and didn’t make enough money to justify their ad spends. They were gone. I was able to keep them by raising the commission, but almost lost them entirely because the program was not priced right coming out of the gate. 5. You know the retailers customer acquisition number when I launch an affiliate program. Hard to imagine, but many retail merchants have no idea what they coul What To Do When a Friend is Fired “Well… there’s really nothing quite like it on the Internet”, I know the prospective client has not done any online research. There is competition in virtually every segment of every product type on the web. Get used to it. There is competition for every dollar out there regardless of how unique you may think your retail product is.It came out of the blue.My boss was called into her manager's office and, half an hour later and still in tears, she started clearing out her desk. To this day I don't know the official reason for her firing, but I suspect that she was the designated scapegoat for a project that was behind schedule and getting later. In truth, there was plenty of blame to spread around, but she got whacked - it still doesn't seem fair.It was a tragedy for her, but it was also bewildering and embarassing for the rest of her team and for her friends around th 3. You have a brand name or sell brand name products. Having brand names does make it easier to sell online. Having a branded category name is even easier. Does that mean you have to have a brand name to be successful… no. 4. You will be able to offer an aggressive affiliate payout. Brand names many times prescribe low payouts to affiliates. This makes getting affiliate buy-in difficult. I launched a national brand company with a really low payout after suggesting a much more aggressive customer acquisition number. The program started out well and then fell off dramatically after 60 days as affiliates tested the program and didn’t make enough money to justify their ad spends. They were gone. I was able to keep them by raising the commission, but almost lost them entirely because the program was not priced right coming out of the gate. 5. You know the retailers customer acquisition number when I launch an affiliate program. Hard to imagine, but many retail merchants have no idea what they coul Sex, Drugs, & Rock-n-Roll: Trade Show Traps and Tips ing a branded category name is even easier. Does that mean you have to have a brand name to be successful… no.Sex, Drugs & Rock-n-RollHere’s the Scenario...You’re at a trade show. Out of town. It’s probably an unfamiliar city. Maybe overseas. Lots of strangers. There’s a client or two. A couple of buddies. Lots of opportunities to do business. Lots of opportunities to get yourself in a bind.This Commentary is about how to stay out of trouble, save your dignity and keep your job.Trade shows are hard work - both physically and emotionally. It’s tiring to travel. Hard to be away from home. Boring to be pleasant and smile for 4. You will be able to offer an aggressive affiliate payout. Brand names many times prescribe low payouts to affiliates. This makes getting affiliate buy-in difficult. I launched a national brand company with a really low payout after suggesting a much more aggressive customer acquisition number. The program started out well and then fell off dramatically after 60 days as affiliates tested the program and didn’t make enough money to justify their ad spends. They were gone. I was able to keep them by raising the commission, but almost lost them entirely because the program was not priced right coming out of the gate. 5. You know the retailers customer acquisition number when I launch an affiliate program. Hard to imagine, but many retail merchants have no idea what they coul Tips and Tricks for Last Minute Business Trips ell off dramatically after 60 days as affiliates tested the program and didn’t make enough money to justify their ad spends. They were gone. I was able to keep them by raising the commission, but almost lost them entirely because the program was not priced right coming out of the gate.Business trips can often take place at the last minute. Something crops up that just absolutely has to be sorted out face to face. Which means if your job could potentially involve business travel, it’s essential to be prepare as much as possible in advance.In general, all travel trips are being booked later and later, so unless there’s a major conference going on in your destination city, you should be able to find somewhere to stay. What can be more difficult to ensure is that it’s somewhere you want to stay and that it’s within your budget. 5. You know the retailers customer acquisition number when I launch an affiliate program. Hard to imagine, but many retail merchants have no idea what they could or should be paying to acquire customers. If they don’t know and seem to think the number I quote them is too high, I go looking for other opportunities. 6. You will be able to offer a competitively priced retail product. You don’t have to be the cheapest for sure. But if your competition is less expensive and you don’t have a value proposition to support your pricing model, you will have trouble getting affiliate sign ups. 7. You know the average price per sale on the site. Low priced items are not affiliate favorites as they have to drive lots of traffic to earn any money. A retailer with at least a $60 average sale is a bare minimum. Many times it may be a packaging issue, but if the retailer hasn’t figured it out by the time I show up… it can be really heavy lifting to get them to package their products correctly. 8. You know the conversion rate of the visitors to buyers on the site. Depending on the conversion rate and the average sale price I can give the retailer a pretty good idea if he is going to be successful in attracting affiliates. A 1% conversion rate can be good depending on what you sell, and I have some customers that run at 4% as well. 9. You know and understand what kind of ecommerce solution the retailer uses. If your conversion rates are abnormally low for the category you are in, I may pass because this may mean your ecommerce solution or customer service is not up to par. 10. You have a website that is attractive and compelling. So often overlooked as a determining factor, in many ways it is a major factor in the affiliate’s decision on whether to add your site links to his site. While he wants to make money, if he sees poor quality design work he is unlikely to add you. He knows if its ugly to him, it will be ugly to the people
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