How are affiliate marketing and dating the same?

So, why is affiliate marketing like dating? Because the goal is to create a successful ongoing relationship. How do you do this? Peter Figueredo, Kitt Williams Odukoya, Shmuly Tennenhaus, and Kerri Pollard came together at last night's AiMA event to answer this question and much more. Following are the top 10 take aways...

1. Find the right partner - Whether it is Commission Junction or Linkshare or a smaller affiliate program solution, choose the one that is right for you. Instead of attempting an in-house program, reap the benefit of an already established network.
2. Determine your business objective - branding, acquisition, or loyalty. All three can be achieved through affiliate marketing. Execute according to this objective.
3. Pick up the phone and call. Today inboxes are packed; if you want to stand out from the crowd, you need to do something different.
4. Know what they want. Who are they? What do they do? What motivates them? Every person is different, every company is different. Create incentive programs with this in mind.
5. Surprise and delight. When a first sale is made, don't play hard to get, contact them right away. Express your appreciation.
6. Set clear guidelines. Keyword guidelines: don't end up in a keyword bidding war with one of your very own affiliates...or one of your competitors because of your affiliate. Brand guidelines: ensure it is properly represented throughout your network. Incentive guidelines: make sure the rules are followed.
7. Segment and target. Separate the affiliates into different groups. For example, loyalty sites such as www.ebates.com attract repeat business. Coupon sites are people looking for deals. One focuses on quality leads and the other quantity. Both are valuable and yet should be communicated to and rewarded accordingly.
8. Remain competitive. There are many companies competing for your affiliates affections and you need to stay one step ahead of them. Review their sites, consult the tools offered by your affiliate marketing solutions, and talk to your affiliates.
9. Fraud is out there. Check clicks, sales, average order size, and returns, daily. If something looks odd, pick up the phone and call them. Know what is going on in the industry by consulting www.abestweb.com or other affiliate marketing forums. Keep in touch with the people in the industry.
10. Knowledge is power. Attend conferences like this one. Read publications such as Revenue. The more you know about their needs the better.

Creating a relationship takes time and effort. The biggest recommendation I make to people who ask me about affiliate marketing is dedicate the right amount of resources. Think about your own relationships. What happens when they are neglected? Nothing good I can assure you.

What about you? How have you seen success with your affiliate marketing program?

Comments

[Josh]

I like your list of suggestions. I've found that it's a helpful way to organize thoughts. I'd put together a list on thoughts on cold calling in the ineractive business, at http://www.joshgreene.com/2005/07/new-cold-calling-tips-for-e-marketing.html if you're curious.

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