DCMnetwork is in the affiliate network industry for almost a decade and has worked with advertisers all across MENA. Our expertise comes to play to ensure maximum benefit at minimum costs. However, we have realized that there are these six common mistakes advertisers make rather unknowingly and that, in turn, backfire when they launch their affiliate program.
Common mistakes of advertisers on affiliate partnership
Signing exclusive contracts with networks and agencies
Exclusive contracts not only act as a legal trap but also limits your brand’s potential. By signing absolute contracts with networks and agencies, you can no longer extend partnership with other affiliate programs, hence the growth of your brand is severely curbed. There is a long term and irreversible consequence of signing such contracts. In the post-pandemic world where most businesses, even that of your competitors, are back to ground zero, having as many non-exclusive partners can give you a clear advantage. Bank on as many partners as you can, and make the most of what each affiliate has to offer. Don’t miss out on the opportunity just because you signed an “exclusive contract” with one agency.
No 30 days get-out clause
Granted that there are times when signing exclusive contracts are unavoidable. What do you do then to ensure you are not headed to the noose? Get the 30 days get-out clause of course! The get-out clause allows either party to terminate the contract for any reason and no reason once the party desiring to end the contract sends a notice to the other party and then allows 30 days to expire. Termed to be a “bulletproof” term for contracts, this will give you the legal rights your company may otherwise not have.
Lock-in periods
Similar to that of signing exclusive contracts, if any of your contracts have a lock-in clause then you need to take a step back and re-evaluate. The Lock-in clause states that your brand cannot work with other partners for a specified number of months or years. This again is a legal trap that will do your brand more harm, than good. Would exclusivity with one agency work better for your brand than partnering with many leading affiliates? The answer is simple. Nope.
Lack of initiative on performance marketing
It’s true, working on affiliate partnership spares you some of the marketing hassles, but that does not mean you don’t participate in it. Make the most of the performance marketing network, give necessary feedbacks, maximize the marketing tools available, and boost your engagement. Answer the queries of your affiliates, so that they can aid you to market your brand better.
Treating publisher with indifference
Let’s get this straight. The publisher is the ambassador for your brand, treat them like they belong. It’s imperative to build a good relationship with your publisher to achieve long term benefits. Give them fair deals and commissions if you must. Their success reflects on your brand and they will help you beat your competitors as well.
High hopes on Return of Investments
Affiliate marketing has a reputation for making you rich while you sleep. While that’s true, that does not mean an immediate boost of sales and overnight success. When you talk about pushing the brand, you need to ask yourself if your brand has earned the credibility yet? Are your products on demand? Are your commissions attractive enough? Good things take time and when your campaign is activated, the conversion rate depends on the answer to those questions. Affiliate marketing guarantees good ROIs but there is no miracle here, good things certainly take time. Do an annual comparison instead of seasonal ones. That will help you accurately track your ROI.
Affiliate marketing partnership has the potential to boost sales and increase revenue. Our success stories bear testimony to that. However, most of these mistakes are quite frequent but it isn’t unavoidable. Forward-thinking and playing aces will guarantee high success rates for your brand, and as for affiliates, we are always here.
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