Should I Launch an Affiliate Program For My Product?
One of the main reasons to consider offering an affiliate program for your product is simply because it’s going to result in increased revenue over the long run. While not everyone is motivated by affiliate commissions, you’ll still probably be able to find a large amount of people willing to promote your product (if it’s good).
Power of Returning Customers
Remember that although you might be giving away 70% on the front end, you’ll be earning much more from that customer over the long run. For instance, let’s say that your product is worth $100 and it’s being offered at 70% commission for affiliates. Although you’ll only make $30 per sale now, it’s very likely that you’ll earn much more from those customers over the long run. That’s the potential power that launching an affiliate program has.
Why Shouldn’t You Start an Affiliate Program?
There are obviously two sides to the argument: it could be said that starting an affiliate program will only eat away at your local internet marketing profits. After all, who likes to see 50% of their earnings go down the drain? The second thing to consider is that an affiliate program can take a lot of time to manage. Granted, there are platforms (like Clickbank.com) that allow you to effortlessly collect commissions on your affiliate sales, but as a general rule, it does take a lot of effort to run such a program.
Finally, there’s the idea behind lost control. When you launch an affiliate program, you virtually lose all control over how your product is marketed. This might give false expectations about your product to customers, which will result in greater refunds and less website SEO satisfaction. These are the pros and cons to the argument. It’s always best to at least give it a try and see if you’re able to increase long-term sales this way.
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