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Affiliate Program: When a merchant
intends to increase sales of his product
by letting affiliates
promote it, he starts an Affiliate Program. This
means he provides an ability for everyone interested to
join as an affiliate, promote the product and earn
commissions
for the sales he generates.
The biggest advantage of
running an Affiliate Program for a merchant is that it is a
no-cost and fast way of generating traffic to one's salespage.
Commissions only have to be paid when an actual sale has
occurred. Setting up an
Affiliate Program means offering a commission for every sale
referred by an affiliate and setting up a procedure to
assign every affiliate his unique affiliate
link so every sale can be
correctly tracked to the referring affiliate. The merchant
needs to make sure that every affiliate gets paid fast to
motivate them to further promotions. Finally he should care for
his affiliates’ success by creating promo material like a
highly converting sales
letter, email
templates
, text ads
and banners
and making it easily available to them for
free. This is all part of offering an Affiliate Program. There are several solutions for a marketer to automate all these functions. He can choose a software program, a web based service (some payment processors offer to handle all affiliate commission payments in addition to the sales transactions) or marketing his product via an affiliate network in which case he would have to pay not only the affiliate commissions but also the Network fees in exchange for not having to take care for all the mentioned functions. [Affiliate comes from Latin affiliare = to be connected; Program is from Latin programma = public notice, which goes back to Greek pro = forth and graphein = to write]
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