How to launch your affiliate program in 2024

In an era where a visible online presence is key to success, launching an affiliate program is a no-brainer. It’s a strategic and cost effective approach to reaching a broader audience with a network of affiliates that drive sales and traffic to your brand. Eight out of 10 brands have already embraced the power of affiliate marketing, so if you’re interested in learning about how you can start your own affiliate program, this blog is the perfect place to start.

How an affiliate program works in 5 steps

1. Customer engagement: A potential customer clicks on your ad delivered by an affiliate.
2. Tracking the click: The click is tracked through your affiliate network.
3. Direct-to-purchase: The customer lands directly on your website and purchases.
4. Tracking the purchase: The purchase is tracked through the network to your affiliate.
5. Commission payout: Your affiliate earns a commission on the sale value, completing the cycle.

Why have an affiliate partner manager when you can go solo?

While it may be tempting to start an affiliate program on your own to save on costs, this can lead to misguided decision making and money down the drain. Consider the scenario where a brand chooses to work with a single tech platform without thoroughly assessing its compatibility with the brand’s goals. This can result in unforeseen limited capabilities and therefore missed opportunities for growth. Moreover, the absence of a seasoned team can lead to overlooking crucial — even money saving — aspects, such as access to exclusive and preferred rates with affiliate networks.

On the other hand, a full-service partner manager for your program means you have a go-to expert who knows which affiliates are most beneficial for your brand’s needs. They are also equipped with the knowledge and pre-existing relationships with leading technology providers to ensure an effective and cost efficient affiliate management and tracking solution.

An experienced partner manager also knows how to leverage relationships with affiliates, meaning they have stronger buying power and negotiating skills to achieve lower average commission rates, reduced tenancy packages and increased value for the investment in that partnership. They are responsible for comparing various platforms, providing insights into the best fit for your specific requirements, and taking care of program setup. With these distinct advantages, brands are far more likely to succeed in their affiliate program launch when there is a program manager behind it.

Before you commit, an effective full-service affiliate program should include:

1. Campaign planning: It should meticulously plan, manage, and execute campaigns. From coordinating activities with affiliates to optimising promotions, your affiliate program should provide detailed reports on campaign success.
2. Publisher relationships: From recruiting and optimising affiliates, to faster onboarding, your program should manage these crucial relationships for you, making recommendations and improving results through publishers. It should also keep in touch with publishers by updating them with offers and creating publisher newsletters so they know what to promote.
3. Account management: With a dedicated account manager, expect weekly and monthly reports on your program’s progress. An effective affiliate team takes care of daily tasks, including commission validation and transaction queries.

Ready to elevate your brand’s marketing strategies in 2024? Get in touch to book an informal chat with our experts on how you can launch your affiliate program and harness the power of strategic partnerships.