2. Establish a contract for your affiliate partners

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Once you have found the right affiliates, put the terms and conditions of the affiliate partnership in writing. Be sure to read this article on the Kolsquare blog: Influencer contract: tips and tricks

Commissions and payment plans should be agreed upon in an affiliate contract. Also make sure that KOLs are aware of and comply with new regulations and laws: The French Ministry of Economy announces laws to strengthen responsible influence and publishes a “ Guide to good practices ” for influencers.

One of the advantages of influencer marketing is that each partner gets their own tracking links or promo codes , allowing you to closely monitor their performance.

3 Ready, set, go: promoting your products and services
Now it’s your partners’ turn. Depending on what you’ve negotiated in the contract, they’ll create blog posts, social media posts, videos, or even email newsletters. The goal is to get consumers to follow the KOL’s links and buy your product or use your service.

Several tools will help you analyze conversions across the program. You should track and, where appropriate, analyze metrics such as clicks, conversions, and sales.

4. Questions about prices:
How much does a collaboration with influencers cost? How much is the commission? And are affiliate programs worth it?

As mentioned above, you pay your partners with a pre-agreed commission. This can be cost per click (CPC), cost per mille (CPM) or cost per thousand (CPT).

In no case do you have to pay upfront, but only pay for the resu vp design officers email database lts you get. This makes affiliate marketing a low-risk investment and can be quite profitable for businesses. The model is as follows:

You pay a low fee plus the usual commission.
You pay a higher fee plus a lower commission rate.
Commissions are based on the KPIs you set, but may vary depending on the definition of the objective. Do you want to increase brand awareness, engagement on your social media channels and/or conversion by working with influencers? For affiliate programs, we recommend the following KPIs:

Total revenue generated : How much money have influencers generated for your brand?
Number of sales : What is the total number of conversions you have achieved?
Conversion Rate (CR) – This can be calculated by looking at the number of interactions with influencer posts/number of conversions over a certain period of time or by checking the affiliate links of the respective KOL.
Average Order Value (AOV) : The average value of orders.
Once you've collected all this data, you can easily calculate the overall ROI of your affiliate programs.

Marketing KOL Moritz Ceg shares tutorials, instructions and digital marketing strategies on his YouTube channel and has also created an affiliate marketing masterclass. In the video description you can see that he uses affiliate links himself and has marked them with an asterisk in accordance with the labeling obligation. This way, interested people can buy his complete set via Amazon.