Overcoming Common Challenges in Setting Up Your Affiliate Program with Grow by Tradedoubler

Embarking on your journey with Grow by Tradedoubler and stepping into the world of affiliate marketing is a strategic move towards boosting your business growth. As with any new venture, setting up an affiliate program can present a few challenges. The good news is, with the right guidance and resources, these hurdles can be readily overcome. In this post, we’ll outline some common challenges and share strategies to help you navigate them.

Integration Challenges

The integration of a new affiliate program with your existing business systems can seem daunting. It involves various technical aspects that can be difficult if you’re not tech-savvy.

Solution: At Grow by Tradedoubler, we’ve streamlined the integration process to make it as user-friendly as possible. Our platform offers detailed step-by-step integration guides to walk you through the process.

Moreover, our dedicated support team is always ready to help. If you encounter any issues or have any questions during the integration process, don’t hesitate to reach out to us. We’re here to ensure that you can set up and start using your new affiliate program as smoothly as possible.

At Grow, we strive to keep growing, so we are working on applications that allow you to integrate in minutes! Have a look at the currently available Shopify, Woocommerce and Prestashop apps now.

Start with building your program profile

Setting up the right description for your affiliate program is crucial in attracting the right affiliates and effectively communicating your program’s details. 

Begin by clearly stating the objective of your affiliate program. Explain what you aim to achieve through the program, such as increasing brand awareness, driving sales, or expanding into new markets. Provide a clear and concise description of the product or service you want affiliates to promote. Explain its unique selling points, features, and target audience. This helps potential affiliates understand your program’s purpose and align their goals with yours. 

Highlight benefits and incentives that affiliates can expect by joining your program. Outline the commission structure, commission rates, or any performance-based incentives you offer. Mention additional perks like exclusive discounts, special promotions, or access to marketing resources. Emphasize the benefits attracts and motivates potential affiliates to join. 

If there are types of Publishers, you do not want to work with remember to add this information in the description and adjust your affiliate profile page accordingly by setting allowed affiliate types.

Identifying the Right Affiliates

Affiliates are the lifeblood of any affiliate program. However, finding affiliates who align with your brand and can drive the right kind of traffic to your business can be a challenging task.

Solution: Grow by Tradedoubler offers access to a wide network of diverse affiliates. Our platform provides advanced search and filter functionalities to help you identify and connect with affiliates that fit your brand and target audience.

Apply promotion type filters: identify the promotion types that are relevant to your business and goals. Determine which promotion types are most suitable for your business and align with your goals. Examples of promotion types include social media promotion, retargeting, cashback partners, Google CSS (Comparison Shopping Service), email marketing, and more. 

Define your target categories: clearly identify the specific categories or industries that are relevant to your business. These categories should align with your products, services, or target audience. For example, if you sell fitness equipment, relevant categories might include health and wellness, sports and fitness, or outdoor activities. 

Tip! Assess Affiliates’ content and channels: visit the affiliates’ websites, blogs, social media channels, or other platforms where they promote their content. Evaluate the types of content they create and the promotion methods they utilize. Determine if their content aligns with the promotion types you are seeking.

Establishing Competitive Commission Rates

Affiliate marketing is a two-way street. While your affiliates help drive traffic and sales for your business, they also expect to be compensated fairly for their efforts. Determining competitive yet sustainable commission rates is crucial.

Solution: Grow by Tradedoubler offers extensive resources to assist you in determining competitive and fair commission rates. 

We understand that the affiliate marketing landscape can be diverse, and what works for one industry or product might not work for another. Therefore, our platform provides a comprehensive database of industry benchmarks and trends that you can refer to when setting your commissions.

Additionally, we offer personalized consultation services where our experts can help you understand the intricacies of commission structures in affiliate marketing. This includes helping you understand factors such as the standard rates in your industry, the nature of your product or service, the profit margins, the typical customer lifetime value, and the sales volume you can expect from affiliates.

Also, our platform allows for flexible commission structures. You can set varied commission rates for affiliates based on their performance, traffic quality, promotional methods, and other factors. Additionally, this flexibility empowers you to incentivize and reward your highest-performing affiliates, while also motivating other affiliates to enhance their performance.

Finally, our reporting tools come into play again by providing you with insights into how your commission rates are affecting your affiliates’ performance and your overall program’s profitability. By regularly reviewing these reports, you can make data-driven decisions to adjust your commission rates as needed, ensuring a balance between competitive rates for affiliates and sustainable profitability for your business.

Tracking and Managing Affiliates

Once you have your affiliates on board, tracking their performance and managing your relationships with them can seem like a hefty task, especially if you’re new to affiliate marketing. 

Solution: Grow by Tradedoubler has designed its platform to make affiliate management as effortless as possible. Our dashboard provides a comprehensive overview of your affiliates’ performance, allows you to manage payments efficiently, and enables effective communication with your affiliates.

Engage: once you have identified potential affiliates with the desired promotion types, initiate contact and further evaluate their suitability for your program. Engage in conversations, discuss your campaign goals, and assess their level of understanding and enthusiasm for promoting your products or services using the desired promotion methods.

Evaluate: it is important to constantly monitor and measure the performance of different types of promotions. Set key performance indicators (KPIs) based on your goals and easily track metrics on the Grow platform. You can determine which banner ads are most used by your affiliates, check conversion rates for each affiliate, click-through rates, revenue generated, total number of sales and much more! Grow allows you to apply multiple report filters and lets you freely maneuver the period for which you want to display this data. Moreover, employing a data-driven approach will enable you to discern the most impactful promotional strategies, facilitating program optimization.

Collaboration: make it easy for affiliates to promote your products or services by providing them with high-quality marketing materials such as banners, images, product descriptions, and promotional codes. The easier it is for affiliates to access and use these resources, the more likely they are to actively promote your offerings. We understand the time-consuming nature of this task. That’s why you can rely on the intuitive Ad Manager available on the Grow platform to handle all these aspects effortlessly. 

Maintaining Long-Term Relationships with Affiliates

Successful affiliate marketing is not just about onboarding the right affiliates. It’s also about maintaining healthy, long-term relationships with them. 

Solutions:

Provide regular updates: keep your affiliates informed about program performance, new marketing materials, and any changes in your business. Send regular newsletters with the help of our team highlighting important information and offering insights or tips to help them improve their performance. 

Offer exclusive deals and incentives: provide affiliates with exclusive offers, discounts, or incentives to share with their audience. This not only motivates them to promote your products but also creates a sense of exclusivity for their audience, driving higher engagement and conversions. This keeps affiliates engaged and motivated. At Grow, you can easily add an exclusive coupon. This solution will work especially well with partners that specialize in the voucher codes category.

Fair compensation: validating orders ensures that affiliates are appropriately compensated for their efforts. By verifying the authenticity and adherence of orders to the program’s criteria, you can ensure fair compensation to affiliates for their marketing endeavors. This, in turn, motivates them to sustain their promotion of your products or services. Implementing a systematic validation process builds trust and transparency between you and your affiliates. When affiliates see that their sales are being accurately tracked and validated, it instills confidence in your program’s integrity. This can lead to stronger relationships with affiliates, increased loyalty, and a higher level of commitment to promoting your offers. 

Timely payments: ensure you pay your invoices on time. Commissions to Publishers are paid on the basis of invoices issued every month. Their timely payment allows us to send funds to affiliates at the agreed time, according to the established cooperation. Timely payments build trust in the affiliate program.

Tenancies

Embarking on your affiliate marketing journey might seem challenging at first, but with the right understanding and resources, these hurdles can be readily overcome. Remember, the Grow by Tradedoubler team is here to support you every step of the way. We are committed to making your affiliate marketing journey a success story. 

Remember, affiliate marketing is not a sprint; it’s a marathon. With patience, persistence, and the right resources, you’re well on your way to reaping the benefits of a successful affiliate program. Enjoy the journey!