Weighing the Pros and Cons of Running Your Own Affiliate Program
In going forward with your business in an ecommerce platform you’re likely to get advice from other entrepreneurs about setting up your own affiliate program. Joining an affiliate networks presents a cut-and-dried process of running marketing campaigns, as one of the benefits. Yet it’s also best to weigh the pros and cons between the option of joining and affiliate networks and of maintaining your own affiliate marketing program.
Understanding How Affiliate Marketing Networks Work
You understand of course that an affiliate network is an established platform that allows marketers and business entities to connect, Through the network’s database of members, affiliate business owners can tap the services of affiliate marketers in promoting the products you are selling in an ecommerce platform.
Amazon Associates though offers both ecommerce and affiliate network platforms that simplify the process of selling products online, whilst having the support of affiliate marketers who will promote your products.
However, this denotes that both Amazon and the affiliate marketer gets a share of the revenue you make from every product sold in the ecommerce store. The same is pretty much true when your marketing program is linked to an affiliate network; regardless of whether you are selling products in your own website or through an ecommerce outlet.
That being the case, many business owners believe they can improve their sales by setting up and managing their own digital marketing program. This option was remotely possible before because the cost of software alone was a huge consideration.
There are now affiliate marketing technology offered by providers of Software-as-a-Service (SaaS), deemed as a cost efficient method of setting up a proprietary marketing scheme without need to buy software. Even better still is that there are SaaS providers that offer free trial, to make it easier for potential clients to arrive at a decision.
Pros and Cons of Setting Up and Managing Your Own Affiliate Program
An affiliate marketing software powers up your marketing schemes from bottom to top. It comes with a bundle features that include a tracking system, commission schemes, comprehensive reports amd different promotion materials that can be integrated in your website or ecommerce store. Integration involves a simple process of copying and pasting simple codes and then testing the functionality of the features.
Maintaining your own affiliate marketing program gives you more control not only over your marketing campaigns, but also on your revenue. Affiliate networks decide the commissions you pay marketers and the fees the network additionally collects from your sales. Some affiliate networks also put a limit to the number of affiliate links you can create to promote your merchandise or service.
In managing your own affiliate marketing program, you have to invite marketers to join and then evaluate applicants based on your own assessment. Since your affiliate program can be overshadowed by programs offered by affiliate networks, you have to seek out marketers yourself, usually in social media sites and in marketing conferences.
It requires additional work, unlike in affiliate networks where you can simply rely on the database when looking to invite influencers or bloggers/vloggers to join your marketing program.
Affiliate marketers on the other hand, will likely prefer joining affiliate programs created by businesses as there is a direct link between them and the seller. Both parties make conscious efforts to maintain their integrity through the products or services offered in their target market.
Digital marketing expert Jeff Lerner reviews the work of some affiliate marketers who contend that as far as the quality of a product or service is concerned, any issue about quality is between the provider and the customer. Still, since poor quality can affect the element of trust that marketers build to connect with their readers, they are more inclined to join affiliate programs of businesses that value their reputation as providers of quality merchandise or services.