To use or not to use affiliate networks is a question many marketers get confused about. After all, it isn't exactly free to use. So, what compels others to use it? Here are some benefits of it.
Structured Platform
Affiliate networks provide a structured platform that connects businesses with a diverse group of publishers, content creators, and bloggers. This enables them to reach a wider group of people and audiences that may have been difficult to reach otherwise. Brands can get customers from various corners of the world, successfully extending their reach and exposure.
Access to Multiple Affiliate Programs
Another great benefit of affiliate networks is that they provide easy access to multiple affiliate programs in one single platform. Affiliates don't have to run from one place to another and one website to another in search of affiliate programs that match their needs. They can easily get a list of the best ones, filter out the ones that suit them, and conveniently sign up with one without much hassle.
Commission-Based Earnings
One of the biggest perks of affiliate networks is that you see commission rates you can expect to earn. It's listed along with other details in big, bold numbers. These commissions are usually stable as they come from reliable brands that affiliate networks have verified previously. The best affiliate marketing sites usually carry programs with commission rates that match the market standard and range around 5 to 20%.
Campaign Management
Most affiliate networks provide you with a separate account for all your commission and payment tracking. You can check all the affiliate programs you have signed up for, the number of successful referrals, commissions received, commission due, withdrawn accounts, and current balances.
Businesses, on the other hand, can track which affiliates bring in the most referrals and optimize payments and eligibility accordingly. This helps them make future marketing decisions.
Establishes Trust and Credibility
Affiliate networks value the safety of all their users over anything else and work to enhance the credibility of both the affiliates and merchants. To keep things in check, they usually follow a strict verification process where they verify the legitness of all businesses and their affiliate programs. This helps in better trust and relationship-building, making affiliates work twice as efficiently.
Businesses can also be rest assured that their promotions have gone to safe and capable hands.
Factors to Consider While Choosing An Affiliate Network
Affiliate marketing is growing, and so is the number of affiliate networks in the market. But out of all of them, surely not all will be compatible for you. Here are some factors that you should consider before choosing an affiliate network.
Compatibility with Your Niche
As an affiliate, you probably have some sort of niche in which you create content. You know this niche and the audience it attracts, making it the center of your affiliate marketing strategy. The affiliate network you join should have enough inventory of businesses from that niche to make it easy for you to promote.
Commission Structure and Payment Terms
Apart from the terms of affiliate programs, affiliate networks might have their own terms, too. They might favor tier and performance-based commissions or put a limit on the minimum amount that can be withdrawn by the affiliates. Some might pay out monthly, while others might do it quarterly.
Platform Fees
Another thing to watch out for is the platform fee. This is the fee that affiliate networks charge merchants and affiliates to operate on their platform. Make sure the affiliate platform you choose charges minimal platform fees and is completely transparent about any extra costs.
Size of the Affiliate Network
Another thing that matters is the size of the affiliate network. It should have a good network base within affiliate programs that you intend to join. As the affiliate network keeps on expanding, you'll have a greater chance of enrolling yourself in a number of profitable affiliate programs.
