If you are an ecommerce business owner who wants to leverage affiliate marketing to grow your brand, but you have no idea how to choose the right network, then you are at the right place.
Affiliate networks are seen as all-in-one solutions that take care of your affiliate program’s payment, reporting, and tracking needs.
The latest trends have shown that over 94 percent of publishers use multiple affiliate networks for marketing. This shows how important it can be in predicting the success of your venture.
The affiliate network you choose will significantly influence your programs, so you will have to be wise while making this decision. Let’s explore the considerations involved in choosing the right affiliate network for you.
Who Are Your Affiliate Targets?
The first question to ask yourself is: Which affiliate type will I target during the affiliate recruitment process?
There are various affiliate networks to select from, many of which specialize in particular niches, such as wellness, sports, weddings, etc. You might be looking for affiliates who belong to a specific niche, so look for the network that already contains the kinds of affiliates you seek.
Check The Networks Of Your Competitors
Consider running a complete competitive intelligence analysis before launching an affiliate program. This can help you choose a network that will work well for you. In addition, getting an overview of your competitors’ networks to run their programs can help you decide too.
However, do not just see how many competitors are running their programs on a particular network; consider their success rate. If they are successful, you should consider that this network will help you find your affiliates.
Look For A Suitable Tracking Solution
Some may be okay with basic tracking, but other entrepreneurs may want to track their success in detail. Determine the kind of tracking solution you’ll need prior to selecting your network. For example, if your program will focus on sales or specific affiliate-referred leads, you will have to find a solution that can do that for you.
How Much Are You Willing To Invest?
Affiliate networks are available for varying costs, charging merchants in different ways. A common way they do so is by charging a set-up fee along with monthly minimums if the sales levels are not achieved. In addition, some platforms charge pre-set monthly fees.
More extensive affiliate programs may find it better for them to choose the latter as otherwise, they will have to cut their profit. Smaller programs that have just started should opt for a commission model. Be vary of monthly minimums, however, as they can add up.
There are other things to keep in mind as well, such as how long your contract will be with the network you choose. Sometimes, you can go month-to-month, but you have to sign a one-year plus contract to stay with the network.
These are the most essential factors affiliate marketers should consider when selecting a network. You should also keep in mind that these factors apply every time you choose a network, so even if you have a bit of experience, you should check to make sure these aspects are being checked out.