How Many Affiliates Should I Have? Determine your Brand Needs
How Many Affiliates Should A Brand Have? In order to succeed online, it’s important to understand how many affiliates you need in order to reach your goals. The affiliate marketing industry is worth $12 billion, with 81% of businesses using affiliate programs to increase their revenue. And with the growing popularity of product reviews and recommendations, this number is only expected to grow. It’s hard to be surprised by the popularity of affiliate marketing when it’s beneficial for all parties involved.
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How Many Affiliates Does Your Brand Need?
t would be so much easier if we could just say “you need to hire twenty affiliates to increase your sales revenue by a third”, or something similar. But sadly, that’s not the case. You won’t find the answer without testing what and who works best for your business.
For example, most new startups that want to grow quickly will try and get as many affiliates trying to promote their business as they can. On the other hand, if you are an established business and want to generate some extra revenue you might not want to have too many and a few affiliates will do.
Our advice when picking Affiliates
VoxFeed’s advice is that rather than going for affiliates who can reach the widest audience possible, it’s much better to have a few affiliates who match your target audience and can bring quality leads. You should also keep experimenting with different groups to see which channel brings you the most conversions. When it comes to marketing, quality beats quantity most of the time – so keep this in mind when looking for new affiliates.
Choose an Affiliate Network That Fits Your Needs.
If you choose to work with one affiliate network, you will need to decide whether you want to focus on building up a large base of affiliates or just a few select ones. You also need to consider what kind of product you plan to sell. Do you want to offer products that are easy to promote or more complex items that require some technical knowledge?
Set Goals and Stick To Them.
You need to set goals for your business and affiliate program. This will help you stay focused and motivate your affiliates throughout the year. It also helps you plan what you need to accomplish during each month and check which affiliates are bringing you results or not.
Where To Find Affiliates?
Now that you know what kind of affiliates you need for your business, you probably want to ask “but where can I find people with all of those traits?”
On Social Media
Social media is a great place to look for potential affiliates. Social media channels can also be very helpful when looking for influencers to promote your products. But tread carefully here – you should only focus on profiles related to your products or industry, no matter how many likes or followers they have, and build a long-lasting partnership with them.
On your Customer Base
The best affiliates know the product they recommend inside out, and can therefore persuade people to try it. So why not offer your existing customers a way to earn extra money by recommending your product to others? They may easily promote your products by, for example, writing a review describing how they use your product and how it helps them. You could run a VoxFeed campaign to encourage your customers to sign up for your affiliate program or put out a registration link on your website.
On Forums or Industry-related blogs
A great place where to find new affiliates is a community forum, where people discuss different products. For example, you can reach out to the most active members of a group and ask them to join your referral program for your brand. You could also use affiliate forums or communities and promote your program there.
Another good idea would be to reach out to niche bloggers in your industry. While they don’t usually have a broad reach as the most popular websites, their audience is more engaged and therefore more likely to try out any recommended products.