Affiliate marketing is a hugely beneficial tool that many businesses use to get their company out there. Because you only have to pay a commission on affiliate marketing, you don’t have to pay affiliates until they actually make a sale for you. This means there’s very little set-up cost associated with affiliate marketing.
However, if you haven’t invested in affiliate marketing software, it’s likely that you haven’t unlocked the full potential of affiliate marketing.
Here are five reasons you should be using affiliate marketing software for your ecommerce brand.
What Is Affiliate Marketing Software?
Affiliate marketing software is a tool that you use to manage your affiliate marketing program. Refersion is an affiliate marketing software program. With Refersion, you can handle your entire affiliate marketing program through one website, rather than having to maintain the program yourself.
Top Reasons Affiliate Marketing Software Is Critical for Online Success
So if you’ve already set up an affiliate marketing program, why do you need affiliate marketing software? There are many reasons why affiliate marketing software will help your ecommerce site bloom. Here are the top five reasons.
1. Affiliate Marketing Software Makes It Easier to Manage Your Affiliates
Quite simply, the reason most companies opt for affiliate marketing software is because managing your affiliates can be tough. If you’re trying to manage affiliates individually, you need some way to determine when someone makes a purchase through an affiliate link, whether that purchase was within the designated lead time, and whether specific affiliates have been performing more effectively than others.
Affiliate marketing software, however, lets you do all of that from one central hub. This can cut down significantly on management time because all you have to do is log into your account and see what’s happening with your affiliates.
2. Affiliate Marketing Software Helps You Identify and Target Top-Performing Affiliates
You will naturally have some affiliates who are better at directing an audience toward your product and some affiliates who don’t perform as well. If you’re able to get those top-performing affiliates to put in slightly more work, you may be able to reap the benefits from those affiliates. However, this requires you to know who’s doing the best both in raw sales and in conversion rates.
Affiliate marketing software makes it easier for you to see your top-performing affiliates and reach out to them directly. This way, you can reward these affiliates for their performance and give them certain incentives if they’re able to direct even more clients toward your company.
3. Affiliate Marketing Software Offers Fraud Prevention Tools
One of the biggest potential problems for affiliate marketing programs is the likelihood of fraud. If someone makes it seem as though they’re sending customers to your business, but they’re not actually doing so, they’re going to appear as though they’re performing very well. But your business won’t actually grow. This can negatively affect your relationship with your affiliates and your company’s affiliate program overall.
There are built-in fraud prevention tools with most affiliate marketing software tools. Depending on the software, they may also directly point out certain warning signs of breaking your terms and conditions.
4. Affiliate Marketing Software Automates Your Commission Payments
One of the things that can be frustrating on both sides of an affiliate marketing program is commission payments. On your side, you need to compile the commission payments that you owe to each of your affiliates, then send out those payments accurately. On the publishers’ side, they know they’re entitled to those payments because they have benefitted your company, and late or incorrect payments can cause them to view your program negatively.
Not only does affiliate marketing software make it easier to compile the amount due to each affiliate, but it also allows you to send out those dollar amounts automatically, without requiring you to play a part in it. This makes sure your affiliates get paid the right amount when you promised they would.
5. Affiliate Marketing Software Can Make It Easier for You to Find New Affiliates
Finally, for many people, finding new affiliates can be very tough. Attracting new affiliates to your affiliate program isn’t always easy, and ensuring they’re high-quality affiliates that will actively contribute to your program is even more difficult for many individuals. There are many potential ways to attract new affiliates to your program, but affiliate marketing software is a great opportunity.
Many affiliate marketing software programs come with access to a marketplace like the Refersion Marketplace. With this marketplace, affiliates who may already know your company can discover your affiliate program, and if they’re a good fit, they can apply to it.
The Bottom Line
Affiliate marketing software should be the first thing you look into when you’re developing an affiliate program. Although it’s possible to do affiliate marketing on your own, it will be much easier to do so with affiliate marketing software. The software will also provide you with added benefits on top of that. If you’re interested in starting a strong affiliate program, consider using affiliate marketing software like Refersion.