You did it! Through hard work, research and ingenuity you finally created *the perfect product* that you know the world has been waiting for. But before you pop the champagne, remember one important fact: you still have to sell the thing.
Unless you’re a Fortune 500 company with a mammoth marketing budget and an entire sales team behind you, running an affiliate marketing campaign is probably the most effective way to generate a strong return on your marketing investment.
But if you’ve never done it before, how do you even know where to start? Take these three simple steps to design an effective and profitable affiliate campaign.
1 – Know your competition
Even if you’re product is the best, it’s probably not the first of its kind to hit the marketplace. Before you launch, take a deep dive into what your competitors are doing. Look at their pricing, the features they highlight in their marketing and which websites they’re using to sell on.
You need to know where you stand in the marketplace so you can position your product against the competition. Are you the more expensive but superior product, or do you offer new features that they don’t?
More importantly, when the affiliates you work with are promoting your product, they’ll need a convincing answer to one simple question: Why are you better than the competition?
You can’t beat your competitors if you don’t understand them.
2 – Recruit the right affiliates
There are hundreds of thousands of potential affiliates for you to choose from, which seems like a lot until you realize that the vast majority are either inactive or ineffective at selling your product.
So how do you separate the real from the hype?
Trial and error is one way to do this, but that also means you could lose a lot of time (and potential sales) learning the wrong answers. If you want to cut through the clutter and get to the right answers fast, then consider using affiliate management software such as Purply.
Purply has the power to evaluate data from tens of millions of online transactions to determine the right place for your product and connect you with the affiliates that are proven to perform.
3. Build the right commission structure
How much should I pay my affiliates, is probably the single most asked question we hear at Purply. Go too low, and they won’t market your product. Go too high and you won’t make a profit.
If you don’t have the right information, then you can’t set the right price. Guessing can be costly because setting the wrong price puts your product at a strong disadvantage.
If you have the time, it’s possible you could learn this information yourself. But if you’re ready to start selling, then you need one of Purply’s most valuable features: the commission recommendation report.
This is a constantly updating list that lets you know what your competitors are paying affiliates to market their products and tells you how to set your commission accordingly.
At the end of the day, it comes down to one important thing: knowing is better than guessing and no one knows more about selling your product, than Purply.
And if you still have questions, then check out this short video that shows everything that Purply can do for you.