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The first step in building a profitable affiliate network is getting the word out and letting people know that you offer an affiliate program. If they don’t know about it, they can’t sign up and bring you new business. Those actively seeking affiliate programs in your industry may know to click on small links in the fine print at the bottom of your web pages where most companies place theirs. But that type of placement could mean missing out on far too many opportunities. Consider adding an affiliate program link to your main navigation page and even including affiliate opportunity information in regular autoresponders or email newsletters that go out to your opt in list.
However, there is a huge difference between adding a lot of affiliates to your network and actually creating a profitable affiliate network. A poor network of channel partners can do much more damage to your business than good. Some affiliates, especially those new to affiliate marketing, can take up so much of your time without producing results that they cost you money. Instead of signing up everyone who has a pulse, be a little more selective or go after "super affiliates" who do this full time.
What should you consider when approving affiliates?
How profitable your affiliate network is also relies on how organized you are. You must automate the process as much as possible to reduce the time needed to manage affiliates. Ensure that you have effective tracking so you are not paying out double commissions or paying for fraudulent transactions. The best way to avoid these issues is to join a high quality affiliate network platform and utilize their affiliate software.
Finally in order to maximize the results from your affiliate network, you need to give your affiliates the tools and education needed to help them effectively promote your product or service. The more marketing materials you provide them, the more likely they are to use them and actually produce results.
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