If you’re new to the world of PR and media relations, you might wonder why affiliate networks are such a big deal. After all, participation in affiliate programs requires you to pay a commission of each sale made through the affiliate. Wouldn’t you be better off just focusing on growing your DTC channels or focusing on retail expansions? Simply put, signing up for an affiliate network is now basically required if you’re hoping to attract media attention for your brand or products. Your participation can help make or break your inclusion in listicles, gift guides, trend pieces, and more.
Once you decide that it’s time to take the leap and join an affiliate platform, you may find that you have a lot of questions. There are tons of platforms from which to choose, and they’re not all exactly the same. Which one’s right for you? How do affiliate networks work anyway? What does it take to get started with one?
Here, we’re breaking down some of the most important things you’ll need to know when you’re getting ready to sign up for an affiliate network. For more information on affiliate marketing, keep an eye out for the next installment in our affiliates series or check out the Press Hook blog for past coverage.
How do affiliate programs work and why do publishers participate in them?
Whether you’re still mulling over whether or not to join an affiliate platform or you’ve already made the decision, it’s a good idea to know a bit more about why these have become such an integral part of PR and media relations. Essentially, participating in affiliate programs allows publishers to have access to an additional revenue stream, making it easier for them to continue operations, particularly at a time when things are so turbulent throughout the industry.
“... [I]t’s very important, it’s not going anywhere because the media pubs are making money from it,” Zlata Faerman, a freelance writer, publicist, and affiliate marketing expert, told Press Hook. “They’re keeping the lights on. That’s why print books are closing, digital’s expanding and if you’re not an affiliate, you’re not getting coverage, unfortunately.”
It’s important to understand, however, that this is different from paid media, in which you’re explicitly paying for coverage on their site or an advertorial in an outlet’s print book. Affiliate links allow outlets to make commission on any sales they drive from their monetized editorial articles—so if you’re included in an article, but that article doesn’t generate any sales, you won’t owe the publication anything.
Inclusion or exclusion of brands, products, or services are all at the discretion of editorial teams, just as it would for articles that don’t use affiliate links. That being said, because there’s an opportunity here for outlets to boost revenue if they drive sales, all things being equal, an editor may use a brand’s affiliate participation as the deciding factor for whether to include you—or a competitor.
That’s why affiliate marketing has become such a huge necessity for brands of all sizes seeking media coverage.
It’s not just a boon for publishers, however, it’s also beneficial for the brand.
“You are opening a new sales channel when you get on an affiliate marketing platform,” Faerman explained. “So it is essential for public relations and influencers, brand ambassadors, all of that, but it is also a huge add-on to your business, because now you have a new revenue stream. Very much like when Instagram was like ‘now you can shop our stores, set up an Instagram shop.’ Like, boom, now Instagram Shop is a new revenue stream for you. It’s very similar thinking with affiliate marketing.”
Which affiliate network is best?
There are so many affiliate networks out there, and finding the one that’s just right for you is going to take a little research. Make sure you’re clear on goals and create a pro/con list for each network you’re considering. It’s not a one-size-fits-all prospect, and while you can join more than one, that’s not necessarily required, especially if you connect with Skimlinks once you’re up and running (more on that later).
Many, many publishers use Skimlinks, so ensuring that you connect as a partner with Skimlinks (think: adding friends on Facebook, Faerman advised) is a must.
How to set up affiliate marketing
Once you determine which affiliate program is for you, you’ll need to pay the sign-up fee and begin the set-up process. Many networks operate on some sort of rev-share model and some have a monthly payment fee. Knowing about and planning for all of these things in advance (as well as a program agreement to guide your partnerships, which Faerman recommended you develop in addition to the one that the platform offers) can help make your initial onboarding process go more smoothly and result in fewer surprises down the line.
Beyond those housekeeping tasks, you’ll also want to make sure all of your creatives are ready to go. Faerman said that she streamlines this process for her clients by asking for a detailed list of everything the set-up process will require up front, so that once the process begins, it goes more easily. She advised planning ahead for banner ads, links, and the like.
“So your creatives are really important, again, you’re building a ‘digital sales army’ and they are incentivized to sell your product because of the commission you’re giving them, but they are equipped to sell your product with the tools that you’re providing,” Faerman explained. “Those tools are the creative: what are your banner ads look like, what text links do we have, do you have seasonal discounts and promo codes that we’re pushing out, are we making special relationships with the affiliates where we’re saying, ‘okay, this month we’re gonna give everyone a 10% bounty on this particular SKU,’ how are we further incentivizing and what tools are we giving?”
You’ll also need some sort of marketing calendar to keep track of upcoming plans, promotions, and the like. Faerman pointed out that it’s essential to keep affiliates in-the-know about anything upcoming, just as you would members of the media.
What does rev-share mean for brands?
As we previously mentioned, many affiliate platforms rely on some sort of rev-share model to make money. To better understand how this will work, you first need to set your commission rate. Determining your commission rate might involve figuring out what you’re comfortable with, doing research on what’s competitive for your industry, diving into what competitors are offering, or negotiating with a publisher.
“ … [T]here [are] some things to consider when coming up with what your commission is going to be,” Faerman said. “But, … let’s say it’s 20%, right? All the media has to do is click a button, get that link, and that’s the link that they’re including in their article, but because they’re using Skimlinks, and Condé Nast has an agreement with Skimlinks where they’re not getting that 20%, they’re kicking off Skimlinks with some of that 20% for the ease, for the use of this service, basically.”
Your rate doesn’t change, the rev-share model just means that the publisher and the platform are divvying it up amongst themselves.
Now that you’re signed up for your affiliate program, set your commission rate, and are ready to move forward, you’ll need to know how to manage your affiliates. Stay tuned for part two of our affiliate series to learn more.
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