Affiliate marketing is one of the most effective ways to sell your products and services. Statistics show that around 81% of the brands utilize affiliate marketing for advertising and selling their product and services. It is effective, you only have to pay for successful campaigns, not for the failures. The affiliate marketing manager’s job description is to lead and expand your affiliate marketing efforts in the right direction.
When you start an affiliate marketing forum for your product and services, sometimes calculate what affiliate commission rate you would apply for your product and services. Determine the affiliate commission according to your decided percentage.
The Role of Affiliate Marketing Manager:
The affiliate marketing manager job description is to lead and expand our affiliate marketing efforts. This role is responsible for managing affiliate partnerships, optimizing campaign performance, and growing revenue through scalable acquisition strategies.
Key Responsibilities:
- Develop and execute the overall affiliate marketing strategy.
- Attract and associate the affiliate partners to expand the marketing effort program.
- Monitor affiliate performance and analyze data to optimize campaigns.
See also: Denverbased Quantum Seriesritter Denver Businessjournal
Why Manage The Affiliated Marketing Rate?
Nobody is going to market your product and services if your rate is too low compared to the market. You can’t afford too much higher rate, as it can cost you; you need a perfect plan to choose an affiliated marketing rate, so you can manage a healthy presence in the market. You need to pay the commission to a minimal level, so it can’t cause an extra financial burden on your balance sheet.
Determine Your Production Cost:
It is critical for deciding your affiliate marketing rate, you have to determine your actual production cost. Most of the manufacturers usually miss one or two heads of their production cost, so their balance sheet would not show the desired profit margin. You need to surface all the accounting heads like Purchasing cost of raw material, Inventory Cost, Labor Cost, Electricity and transportation costs, and regulators’ taxes, etc.
- Selling Cost And The Product Cost: The difference between the selling cost and the product cost is a source to decide your profit margin. Now you need to decide how much is feasible for you to pay to your affiliate, and what doesn’t produce an extra burden on your financial statement.
- Decide the Affiliate Marketing Rate: Try to decide on an affiliate rate that is feasible for you to pay; it should be minimal, not too high or too low, as too high a rate may disappoint your affiliate marketer, and too low a rate would cause an extra burden on your financial statement.
Monitor Your Competitor’s Affiliate Rate:
Monitor the affiliate marketing rate. What is your competitor offering in the marketplace? Come with a better offer for the affiliate marketer! This can be great for your marketing efforts and market image!
- Learn The Competitor’s Rate: So, offer a little higher than your competitor, the main issue here is how you can learn the competitor’s rate. The easy way is that you just join their affiliate marketing programs, which would be greatly helpful in finding your rate. Try to hide your real identity, and scan the advertising strategies of your competitor.
- Standard Rate Of Commission: You can improve your marketing efforts and take a deep look at the standard rate of commission of your competitor. How are they promoting the first sale? What are their performance tiers? You can use the same performance criteria and add 1 to 2 % of the commission by using a tool to know your own production cost and the affiliate commission rate.
Take Away:
Scanning the competitor’s commission strategies would provide you with a clear picture, what is going on in the market and what you need to promote your affiliate market program.
