Have you implemented affiliate programs?
I'm considering implementing an affiliate program to increase growth by utilising influencers with large online communities/brands.
I'm interested in what this community has to say about affiliate programs and whether you've implemented one into your own online business? Did it increase growth as much as you thought it would? What were the unexpected pros and cons?
Hi Matt,
Look, affiliate program is the method on top of the funnel (acquisition), but it heavily relies on the bottom of the funnel (revenue and retention). It does not change nor improve your conversions significantly, so keep an eye on your metrics.
If your business is doing fine with converting people to customers and you just need a way to attract more visitors - affiliate marketing is a great solution and would benefit both you and your partners.
If you're struggling to sell, your affiliates won't be able to do the heavy lifting for you and everyone will end up confused.
You could pay them per visitor and not per customer, but in the end it would still be about you making or not making any sales.
So check with your stats, it will tell you for sure if now is the right time to do the affiliate marketing.
Thanks for this!
yes indeed. I use Gumroad.com and it's fine overall.
you can set a percent manually you're ready to share for your each affiliate