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An Affiliate-Marketing Program Might Be the Perfect Move

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An Affiliate-Marketing Program Might Be the Perfect Move

Opinions expressed by Entrepreneur contributors are their own.

A common belief is that founders need hefty sums to gain marketing results, but that is frequently not the case. Affiliate marketing — in which commissions are earned by others for promoting a company or driving a sale — is an affordable investment with a low-entry barrier, and one that’s open to brands of all kinds. It’s only true requirement is patience. It will not make you rich overnight: Instead, you must be ready to grow a product step-by-step, willing to search for opportunities the market has to offer and generate returns incrementally if you want to join this domain.

How to take advantage of affiliate marketing

The essentials of an effective affiliate-marketing partner program include finding those with the right traffic, developing an attractive offer for them and then providing them with the necessary tools — all of which require thorough research. Luckily, there is plenty of content on the web that explains each step in detail. 

There are also straightforward and accessible tools that can help, such as Google Analytics, which enables you to create a system for tracking clicks and gauging partner sales. Another option is joining a trustworthy affiliate-marketing network (such as CJ, AWIN or Fiverr) that’s relevant for your business goals. For example, if you plan to enter the publishing business, you might opt for affiliate-marketing platforms such as the Amazon Associates Affiliate Program or Rakuten Advertising Affiliate Network. Or, if your business is looking to enter the travel industry, my company, Travelpayouts, is a solid option.

Such affiliate networks are often quite robust, and the best are both time-tested and popular among marketers, principally because they offer significant traffic volume and are easily accessible. Many of them do not charge onboarding fees, welcoming newcomers and helping them understand the field better. Others like CJ (Commission Junction LLC) have stricter policies, charging in their case a $5,000 connection fee and taking a deposit from the outset.

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Related: 3 Tips to Get Started with Affiliate Marketing

For the right sales tracking, you will also need to set up a website or mobile app. This usually takes several weeks. In good tracking systems, integration algorithms are highly advanced, which makes it easy to integrate small businesses. Such tracking and integration usually require minimal or modest investment from you.

How to help partners generate traffic and sales

But it is not just about integrating your platform. For affiliate marketing to truly succeed, you need to develop tools for partners to help them generate traffic and sales — a significant challenge in every respect. You can try and do it on your own, or you can take advantage of what the network has to offer: for example, a complete “toolbox” to form and generate links and create widgets. 

We are no fans of platitudes, but it’s important to recognize that affiliate marketing is not just about increasing income. If you want to make the most out of it, you need to think outside the monetary box. For this brand of marketing, the key to success is teamwork and consistent attention; it is simply impossible to create a program and leave it to its own devices, hoping that one day it will turn into a cash cow.

Instead, you need to grow it one step at a time, reaching out to your partners and interacting with them recurrently. Think of it as a big family you are taking on vacation. Booking tickets and hotels is not enough: You also need to ensure that everyone has their things with them, feels well, takes the right plane, etc. So, to make sure that your partners back you up and want to cooperate productively, be ready to share your expertise and stats (seasonal sales, for example) and to launch various promos, which are the ultimate gear for generating traffic. This way, you’ll create bonds, hit targets faster and enjoy the adventure.

Related: This Is Why Teenagers Are the Affiliate-Marketing Experts

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How to Make Hard Decisions Or Run The Risk of a Hard Life

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How to Make Hard Decisions Or Run The Risk of a Hard Life

Entrepreneurship is an endless series of hard decisions. I’m sure you’re facing one right now. Sadly, I can’t give you the right answer — but I can offer you something new to consider.

To really appreciate this, I first want to tell you about someone who faced a gut-wrenching choice of his own.

I’ll call him Steve. He’d stolen things, served time in prison, and wanted to turn his life around. Finding a job was hard, but he eventually landed some freelance work for a big company. He threw himself into it, outworking everyone and getting noticed.

The rest of this article is locked.

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6 Non-Negotiables for Women in Power

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6 Non-Negotiables for Women in Power

Opinions expressed by Entrepreneur contributors are their own.

As I’ve started to reach new growth milestones in my business, I’ve had this growing realization: Knowing your non-negotiables isn’t just important; it’s essential. Not having them clear? Well, that’s a straight ticket to Discontent City, which, let me tell you, doesn’t do any favors for your success, present or future.

It’s way too easy to let things slide, isn’t it? You make excuses for others (and yourself) and turn a blind eye to signs that all’s not well because, hey, losing a client sounds like a nightmare, right? Or maybe you’re so dazzled by what could be that you compromise what is without even realizing it.

These thoughts have been swirling in my head ever since I attended the Black Women’s Power Summit. The stories I heard from these incredible women, who’ve faced and conquered massive hurdles to secure their spots in positions of power, really hit home.

Here are six non-negotiables from myself and some of the powerful women we all look up to that will help you maintain your success and help you push through to the next level.

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Related: Stepping Into Your Power as a Female Leader

1. Have uncomfortable conversations immediately

Let’s have uncomfortable conversations. I used to dodge them like a pro. But, facing them head-on? That’s where the magic happens. More often than not, I’d find out I was missing a piece of the puzzle. Whether they changed my view or cleared the air, those talks always left me feeling lighter, ready to focus on what matters.

2. Wait 24 hours before making decisions fueled by emotion

And here’s a rule I live by now: If a decision is riding on a wave of emotion, I hit pause for 24 hours. It’s amazing what a little time can do for perspective.

3. Don’t accept less than the energy you bring

Accepting less than I’m giving? No more. That’s true for work and life. Steering clear of toxic people sounds obvious, but we’ve all been there, keeping someone around when, deep down, we know they’re just bringing drama and draining our energy.

Related: 5 Women Entrepreneurs Share Their Top Advice for Finding Your Path to Career Success

4. Don’t be afraid to ask things that enable you to show up as your best

When national talk show host and actress Sherri Shepherd was asked to be on tour with Babyface, the local glam team was not equipped to style a woman of color. The team could not style her wig, and the foundation didn’t match her skin. Can you imagine having to host a large-scale event, looking up at the monitor, and being distracted because the reflection is not of your standard?

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As women, it’s often implied that asking for anything more than what is provided is considered “high maintenance.” Don’t be afraid to ask for what you need to show up as your best self, and don’t expect anyone to understand your request as they’re not on your path and they’re not the ones who have to show up in your shoes.

5. Understand that work-life balance is a lie

I listened to Thausandra Brown Duckett, CEO of TIAA, talk about how work-life balance is a lie. Her suggestion is to treat your life like a diversified portfolio. She said work-life balance is a lie because it never reconciles. She suggests living your life like a diversity portfolio. Write down everything that matters to you, and allocate based on your priorities. Over time, you will outperform in all areas. Do not put all your time or energy into one thing. Don’t forget to give yourself the grace to recalibrate your portfolio as needed.

6. There must be incentives to innovate

And there’s one gem I picked from Thai Randolph, who co-founded HartBeat Productions with Kevin Hart, that’s become a mantra for me: She said that in every opportunity, there must be something intrapreneurial. What that looks like is having the opportunity to build things, break things and scale things. There has to be a real incentive to innovate.

Related: 5 Trailblazing Black Women Entrepreneurs Share How They’re Breaking Barriers — And How You Can Too

Honestly, my non-negotiables aren’t groundbreaking, but ever since I’ve put them front and center, communicated them to my team and decided to live by them, the difference has been transformational. Thanks to these non-negotiables, my company, Society22 PR, made it on Inc.’s Fastest Growing Companies list, and we have been able to nurture a company culture that’s beyond what I dreamed.

So yes, these reflections on my non-negotiables have reshaped my approach to business. It’s not just about setting boundaries; it’s about creating a space where you, your team and your business can thrive. And let me tell you, the result has been pretty great.

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How to Build and Maintain Strong Agency-Client Relationships

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How to Build and Maintain Strong Agency-Client Relationships

Opinions expressed by Entrepreneur contributors are their own.

For marketing, advertising and PR firms, the relationships built between the company and clients are critical for driving repeated business, sustained growth and positive word of mouth. Maintaining these vital relationships is becoming increasingly difficult due to a fiercely competitive market where clients are looking for higher engagement, lower costs and better quality products and services.

The good news is that maintaining strong relationships with your clients is well-known to promote high retention rates and better revenue. One study found that customers who form a strong emotional connection with a brand have a 300% higher lifetime value compared to consumers who failed to build a relationship. For agency leaders, it’s important to have strategies in place to build and foster strong, long-lasting relationships with your clients.

Related: How to Make Your Clients Love Working With You

1. Set clear expectations and deliver on your promises

One of the best ways to build a relationship with your customers is by always delivering superior products and services. However, accomplishing this starts at the beginning of the relationship by setting clear expectations on what they can expect. Being transparent about the intended outcome, delivery timeframes and communication helps avoid any frustration that might come from misunderstandings or misaligned expectations.

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For new firms, it’s especially important to impress your potential clients. Unfortunately, too many companies make big promises that they can’t successfully deliver. By overpromising, you set your customer up for potential disappointment. Instead, always offer realistic expectations with the intention of over-delivering. The customer will be impressed when you are able to deliver the marketing campaign in three weeks when you originally set an expectation of 25 business days. You might even throw in an unexpected freebie or perk that they weren’t expecting. By always keeping your promises and over-delivering when possible, you’ll build a relationship based on trust and will be recognized as a reliable business partner.

2. Focus on creating value first

Selling your services is an important part of growing revenue for your business. However, focusing solely on what you can get out of your customers could be sabotaging your ability to build strong relationships with your clients. Instead, focus on first providing them with value. This starts well before you sign your first contract. When clients see tangible value and benefits immediately from working with your business, they are more likely to reciprocate by remaining loyal customers to your company.

3. Communication, communication, communication

Sustaining an ongoing relationship with your clients requires connecting on a regular basis, even if they aren’t ready to purchase from you again. The problem is that many companies focus on connecting with their clients only when they want to make a new sale. This isn’t an effective way to build strong customer relationships because it can be perceived that you only care about them when they have something you want (i.e., their money).

Taking the time to check in with your clients on a regular basis is a great way to maintain a strong relationship. This also helps eliminate tension and remove the defenses that come up when every contact ends up being a sales pitch. These check-ins can be in-person meetings, phone calls or even a simple email.

It’s important to understand that no two clients are the same. Finding ways to tailor your communication to their preferences and needs lets the client know that you understand their needs, challenges and goals.

Related: 4 Tips to Forge Winning Client Relationships for the Long-Term

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4. Own your mistakes

From time to time, your agency is going to make a mistake or upset a customer. That’s unavoidable. You’re going to miss a deadline, deliver an advertisement that should have never made it past the quality control process or drop the ball entirely. How your business responds to these issues can make a huge difference with your customers. Owning the mistake, being transparent about what happened and proactively working on a solution, lets them know that you care about resolving the issue.

Delivering difficult news or discussion challenges is never easy. By demonstrating your willingness to address challenges head-on and find mutually beneficial solutions, you’ll strengthen your client relationships and position yourself for long-term success.

5. Learn from failure through continuous improvement

Sometimes, you’ll lose clients no matter what your business does. This can be painful, especially if it’s a major client that generates a significant portion of your revenue. While the goal is to retain your clients, there is a silver lining to client turnover. As frustrating as it might be, always try to part ways on good terms. You never know when they might decide to come back to your business. A good way to do this is by offering them some form of value on their way out. For example, if you operate a digital marketing firm, you show good faith by supporting their transition to the next agency.

Also, taking the time to understand why they are leaving can highlight opportunities for improvement. Over time, taking action on these lessons can greatly strengthen your processes and ensure you avoid any roadblocks to building and sustaining long-term customer relationships.

Related: 5 Ways Your Agency Can Improve the Client Experience

Acquiring new customers is not only challenging, but expensive as well. It’s much more effective to spend time retaining the customers you have. By building strong customer relationships, entrepreneurs can protect their revenue and position their companies for growth and success despite operating in the competitive world of marketing, advertising and PR.

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