How to set up an affiliate marketing program on Instagram
If you’re ready to get started on creating an affiliate marketing program for your business or brand, we’ve got you. Here’s a step-by-step guide on how to get started.
1. Pick an affiliate network
If you’re ready to launch your own affiliate network, one of the easiest and best routes is to use an affiliate network. This gives you the services and benefits of tracking, reporting, payment processing, and a whole database of influencers and content creators who are in the network already.
With each affiliate network, you can figure out the exact amount of commission an influencer has and which kind of commission structure works best for you. There are two types of commission structures:
Which one should you choose for your business or brand? Well, it depends! Cost-per-click might not be the thing for you if you’re just starting out, as cost per acquisition is paid out for actual sales performance and can motivate the content creator to get the sales you need and not just drive traffic to your website.
2. Set up your commission rates
Now it’s time to set up your commission rates to help establish how much you’ll pay the content creator for each sale they help drive to your website.
Once you have established your commission rate, you’ll also need to set up your payment terms. Usual payment terms are 60-90 days to allow for returns or exchanges.
3. Make a great affiliate program
Create an affiliate program that content creators actually want to be part of! If they’re not really getting anything out of it … why in the world would they want to promote your brand?
Be sure to create something that incentivizes content creators where they can unlock rewards the more they sell. Not only is this a great way for a content creator to make more money, but it’s a great way for you to drive more sales to your website.
4. Find content creators to work with
Now that you have your affiliate program set up, it’s time to start finding content creators to work with. Whatever your goal is, make sure you pick content creators that have similar goals that align with yours.
5. Keep track of your analytics
Once your affiliate program is running, keep track of what’s working for your business. It’s important to see which content creators are getting you more business and clicks.
You can also track whether or not you’re getting a high bounce rate from your website. The content creator you’re working with might not be representing your brand or product well if there aren’t a lot of sales, so always make sure you’re keeping track of your sales and analytics!