You have a successful start with your e-commerce store and gain some traffics to this site as well as some sales. However, after a period of time, you’re having a hard time because of facing a lot of problems which happens in the process of expanding your brand. You do not know how to promote your store as well as your e-commerce website effectively. It can be caused by lacking time or choosing the appropriate marketing strategy. It’s why you fell stuck!
Actually, you’ve never been finding out the power of affiliate marketing. How can it expand your brand? How can you build affiliate program? How can it increase your sales? It is exactly what affiliate marketing can do for your e-commerce site.
Let’s take a look to get started with an affiliate system for your e-commerce website with Magento!
What is Affiliate Marketing and Why is it Important?
Simply, affiliate marketing is a commission based system which offers an incentive for affiliates to promote and sell your product.
Any people can sign up to join your affiliate system, send visitors to your Magento e-commerce website, and any sales which your store get as a result of their efforts earn them rewards.
Depending on your commission based system, they will take a percentage or a flat dollar amount of the total sale they did.
Affiliate system helps you to recruit affiliates easily by offering commissions when they invited your friends or family members to join your store. Anyone can join your affiliate system.
Do you know that Amazon.com was established in Jeff Bezos’s garage? So what did you do to make his brand be well-known in over the world as today? The answer is that he followed affiliate marketing in order to expand his brand! You can see how amazing things affiliate program can do. Therefore, it is really important to your e-commerce website with Magento.
Is Affiliate Marketing Right for Your Business?
The truth is that affiliate marketing is not suitable for all kinds of business. In some situations, it just doesn’t make sense if you have poor profit margins.
The majority of affiliate programs need to pay out a chunk of each sale in order for it to be worth the marketer’s money as well as time, basing on how they promote your marketing campaign.
One of the most effective ways to figure out whether an affiliate program is best for your e-commerce website is by finding out which marketing method your rivals are applied. If it’s effective for them, it may also be work for you.
However, how can you see if businesses in your niche are running an affiliate campaign successfully?
A simple Google search targeting competitors can help dig up any businesses which are also applying affiliate marketing.
For instance, you can search for:
“(your competitor) affiliates”
“(your competitor) affiliate program”
“(your competitor) affiliate marketing”
At the moment, that you’ve decided if an affiliate program is best for you, let’s take a look at how to create a program for your Magento e-commerce website.
Affiliate Plus Extension for Your e-commerce website with Magento:
Setting Affiliate Program in e-commerce website using Magento has never been easier than before! Thanks to providers such as Magestore, Amasty, Aheadworks, they create affiliate Magento extension for you to set up affiliate system more quickly and simply!
With just a few clicks, you can install Affiliate Plus extension for your e-commerce website easily. You can accomplish any rules or terms to encourage and develop your Affiliate system.
1. Set the commission, pay out and discount requirement for your affiliate system:
It is seen as one of the most important factors before you launching your affiliate program in your Magento e-commerce site. After finishing it, you can set it in Affiliate extension in your site. To be more specific, in the Magento Affiliate module, you can choose the commission by percentage or a specific amount of money. Furthermore, by using this extension, you can pay different commission or discount basing on level of affiliates
In addition, in term of “payout requirement” , you can set it that is a specific amount of money which affiliate’s balance have the responsibility to reach before requesting to withdraw money.
2. Refer friend:
When you want that your customers may become your affiliates, you can apply “Refer friend” in your e-commerce site. It can be done easily by allowing them to share links through their social channels like Facebook, Twitter, and email.
You can also write the message to introduce or persuade your products to their family members or friends.
3. Account management:
After establishing the affiliate system, you need to manage it to control and assess it. With Affiliate Plus extension, you have full power to manage your affiliates. It provides some features like remove, add, enable or disable affiliates and edit preferences in “Manage Account”.
It also provides view information of affiliates like their payments, programs, transactions and friends.
4. Tier commission:
It is very interesting and helpful for you because by applying tier commission, you do not need to spend money to recruit the affiliates for your program. You can offer an incentive for your affiliate to persuade their friend to sign up and join your affiliate program by the commission. When their friend sell any products of your store, both of them can receive the commission from you.
Affiliate Plus extension provides the plugin that allows you to set commission amount of types for different tiers.
Now you have taken a look at how to setup an affiliate program for e-commerce site using Magento. Let’s take your turn to get started with your first affiliate system. Sharing your experiences after appying this marketing methods.