Hope your week is going well. Tomorrow we’ll be consulting all day with a client so we won’t post. Thursdays issue of our newsletter will feature questions and answers. If you have a question you can feel free to leave a comment and we’ll work on answering them.
Affiliate programs are a great way to get extra business for you. Affiliate programs have been around a long time (even before they were called affiliate programs), people have been selling on commission for decades. Before you start an affiliate program you’ll want to work on an agreement. We’ll list some things you’ll want to make sure you include in your agreement but we aren’t a lawyer and you’ll want to check with one first to make sure your T’s are crossed and your I’s are dotted.
1. You’ll want to detail the amount of commission you pay them for a sale. We’ll detail the types of commission structure you can use later.
2. You’ll want to explain when they’ll get paid. You’ll want to pay them after you’ve been paid. You also want to make sure it’s after any refund period, otherwise you will paying them with your money, instead of your clients money. An example – sales in August you would pay on Oct. 15th. Make sure that you pay them when you tell them you’ll pay them.
3. List any ways they can’t advertise. I really don’t have a problem if they want to spend their money advertising but many folks do. (Example – they won’t allow facebook advertising or Google Adwords advertising) You’ll need to decide.
4. Ensure there is a specific contract length.
This should give you some ideas. If you search for affiliate agreement template you’ll find some more ideas. Enjoy your day!
