You can achieve greater successful as a business owner by having multiple people selling your product and service instead of making all the sales on your own. Setting up an affiliate program online gives you the opportunity of enrolling and tracking all of your affiliates in order to determine how much to give them as a commission for selling your goods. Affiliates are looking for the most attractive commissions and benefits to entice them to aggressively sell your products.
Determine the commission amount you would like to pay for your affiliates. E-commerce marketplaces typically require more commission payouts to attract affiliates. It may appear that you are getting less money by offering a higher commission payout (more than 30 percent), but the more affiliates you have, the more potential for income.
Create a website for your product and/or affiliate program. A website for your product allows affiliates to link customers back to your website, where they can make a purchase. If you have not had a website designed for your business and you are not proficient in designing one yourself, contact a freelance web designer by going to sites like getafreelancer.com or Elance.com.
Establish whether or not you are going to set up an affiliate program that will require you to handle the payouts and tracking of affiliates or if you want to have a third party affiliate program established for you. Click Bank is the largest third party affiliate program for digital products. They handle enrollment, tracking and payment of your affiliates.
Purchase affiliate tracking software. If you do not want to use third-party affiliate programs, purchase affiliate software to track and pay your affiliates. Affiliate tracking software will provide a unique link that will be given to each affiliate. When they send customers to you through their link you will be able to connect the customer to your affiliate so you can properly pay them.
Set up a plan for paying your affiliates. PayPal, a third-party merchant processor, is preferred and accepted by many affiliates. Otherwise, determine if you will send a paper check or use direct deposit into your affiliates' accounts, though they may not feel comfortable giving you their account numbers.