The Key to Affiliate-Program Success
"Deal sites" are all the rage. But Jim suggests developing a sound strategy before you start pumping out deals to all of your affiliates.
"Deal sites" are all the rage. But Jim suggests developing a sound strategy before you start pumping out deals to all of your affiliates.
Have I got a deal for you!
Let’s face it — everybody loves a deal, and “deal sites” are currently all the rage. But hold on a minute! Before you start pumping out deals to all of your affiliates, I suggest taking some time to develop a sound strategy.
Let’s look at some of the challenges you’ll face when “dealing”:
Limit your financial exposure. I would not encourage you to release a deal that you can’t afford, but even for those that you can, you don’t necessarily want ALL your affiliate business taking advantage. Depending on your branding and positioning strategies, you may need to take extra precautions to avoid eroding your core, full-margin business.
One of the best ways to handle this challenge is to create a deal site category of affiliates and begin the process of populating this segment.
Who operates a true deal site? Obviously, in order to market to deal sites you first need to know who operates a true deal site. Just because someone has bargains, specials, deals, rebates, or coupons on his or her site does not automatically qualify the site as a deal site.
Timeliness is a major factor. Take a close look at the deals offered. Do they include expiration dates? Are these dates recent? Is it clear to you that this site is updated, at the very least, weekly? If not, I wouldn’t include them in your deal site category.
True deal sites should clearly demonstrate the ability to add and remove deals constantly. You will need this flexibility in order to achieve the greatest impact from your deal marketing strategy, and you want to avoid sites that leave your expired deals posted. This could generate ill will among your potential customers.
What deals are currently working BEST?
Once you’ve created and populated your deal site category, you need to start pumping out deals. That’s right, volume, or the shear number of deals that you generate. And believe it or not, daily is not too often! The hottest deals going are the deals of the day. The affiliate sites that post or email daily deals have all learned what a great concept this is.
A successful deal-of-the-day strategy should follow these guidelines:
According to Michael Coley, founder of the successful affiliate deal site, Amazing-Bargains.com, “Consistency is very important to the success of any deal-of-the-day program. A merchant should schedule the posting of his daily deal at the same time each day, and it should always be in the same location. This makes it easy for affiliates to find and post the deal each day on their sites. But more importantly, this allows the more sophisticated affiliates to automatically update their site with details on the new product.”
Coley adds, “It’s important to display the same details in the same way each day (product name, image, description, regular price, today’s price, etc.). We [affiliates] can write pretty simple scripts on our end to extract those details from a page each day. It would be even easier if merchants would simply create a page containing just the ‘details’ affiliates need to advertise the deal.”
Other attractive “deals” for you to promote are:
Both of these further bolster the importance of constantly releasing deals.
Besides the highly successful deal-of-the-day concept, other promotions that you may want to consider are:
Promotions that DO NOT work as well as those above are: percent-off deals, rebates, and free items with order (unless the free item is of a considerably larger value than the minimum order size).
Still, don’t be too concerned with making every deal a winner. The important thing about “dealing” is to be prolific — so start crankin’ em out!