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The $100 MBA Show
MBA1553 Guest Teacher – Nathan Hirsch – How to Build and Promote an Affiliate Program
Jun 22, 2020
Nathan Hirsch, a successful entrepreneur known for his expertise in affiliate marketing, shares powerful strategies for building and promoting affiliate programs. He explains how harnessing the collective strength of affiliates can drive business growth without hefty investments. Hirsch highlights the importance of targeting the right affiliates, collaborating with micro-influencers, and actively promoting your program to ensure participation. His insights reveal that a blend of incentives, community, and effective networking can transform your business through affiliate partnerships.
17:35
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Quick takeaways
- Establishing a competitive commission structure is crucial for attracting affiliates and promoting sustained participation in your affiliate program.
- Partnering with non-competing businesses can significantly increase an affiliate program's visibility and facilitate mutual growth through shared audiences.
Deep dives
Building a Successful Affiliate Program
Creating a successful affiliate program begins with establishing a clear percentage for commissions. Many businesses opt for a model where affiliates earn a fixed rate for each sale or service rendered; for instance, one notable example involved paying 50 cents for each hour billed. It's essential to start with a competitive yet manageable rate that allows flexibility to offer higher commissions to valued partners or influencers later. Additionally, promoting this program consistently, such as training team members to mention it during client interactions, can help generate interest and increase participation.
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