5 Things You Need to Know About Affiliate Marketing Management
#1 You Must Pay Affiliates On Time
Nothing shuts down an affiliate program like a business that doesn't pay the affiliates on time. Good affiliates won't waste their time promoting a product that doesn't pay them when promised. They put in their time and effort and expect to get paid. So pay them!
#2 Affiliates Talk
Remember, affiliates are good promoters. If you pay on time, they will let other affiliates know. If you miss payments or are habitually late, everyone will know that as well. You can't run an affiliate program without good affiliates. Therefore, keep your promises in pay and prizes to keep the good word out and to draw in the good affiliates.
#3 You Must Provide Affiliate Support
Different programs offer different support. However, all good programs offer some support to their affiliates. Some companies like to supply PLR packages, coupon codes, links and banners, and even web pages. Other companies prefer to go the training route and provide webinars, training manuals, and e-books.
However you plan to support your affiliates, you need to find some way to support them. If you leave them on their own, you will find them falling off and your affiliate sales dropping.
#4 You Must Track Promotions
You can bet your affiliates are tracking which promotions work well and which promotions well…suck. You need to track the promotions as well to implement more promotions that are successful and revamp the promotions that are lacking.
Additionally, incentives and rewards for affiliates whom excel is extremely popular. Everyone likes praise and recognition. Even if the incentive or reward is not monetary, an acknowledgement of a job well done goes a long way in raising morale and encouraging improvement.
#5 You Must Know Tax Laws
In the United States, any affiliate which receives more than $600 in one year will need a 1099. In order to send out a 1099, you will need the affiliate to fill out and sign a W9. It is best to get these documents filled out and signed before you ever pay an affiliate one cent. It is the only way to protect yourself from paying their taxes for them.
Affiliates outside the United States will require a W8 and a 1042. The same rules apply to them. Even if they do not pay taxes in the United States, you do. If you do not want to pay taxes on the money you paid them, then you will have to file a report stating how much, when and to whom you paid.
Affiliate marketing management takes dedication and an eye for detail. Affiliates can increase traffic and increase sales. With the added sales comes added responsibility. Take care to keep up your end and they will keep up theirs.
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