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why affiliate Marketing
Growing in popularity
In a world where businesses are being bombarded from all directions with different marketing channels and strategies, it may feel overwhelming to try and embrace a new advertising method. Yet, there are many reasons why affiliate marketing is a popular method for brands to grow.
Hand pick your partners
As a retailer, you can pick who you choose to work with. Affiliates apply to come on board your affiliate program, providing you with the opportunity to assess their suitability and hand pick those who can be the best ambassadors for your brand and products.
All traffic is not created equal. If you sell spa products, for example, you don’t want to waste your advertising budget attracting people who are looking for car products. By working with affiliates who understand your industry and are already active in it, you will receive targeted sales from a warmed up audience. This makes it easier to maintain the relationship with your new customer going forward.
Pay for performance and sales
With traditional pay-per-click advertising, you are charged per click or lead sent your way. These leads then need to be converted into a paying customer, and there is no guarantee at this stage that will happen. In its simplest form, with affiliate marketing you only pay out when a sale is made, while also offering flexibility to pay publishers for influencing sales. If the affiliate marketing partner has an ineffective campaign, it won’t affect your budget. Whereas a poor PPC campaign that sends you low quality leads will still need to be paid for, even if you make no sales. This ensures your marketing is cost effective.
Paying for performance rather than for clicks ensures affiliate marketing is a low risk form of marketing. You won’t be using your marketing budget to create leads that need nurturing. Instead, you will create direct customers who you can then build relationships with and up sell to, at the right time in the buyer’s cycle.
Limited start-up costs
Starting an affiliate program requires some investment of time and finance, but is minimal compared to buying advertising and employing a team of staff. Working with a reputable affiliate network platform like Awin also takes the stress and time out of setting up the program, as they will guide you through the setup, carry out the background work and provide the tools and resources you need.
Grow brand awareness
Consumers like to buy from retailers they are familiar with, and will often spend more with a merchant they trust than go for a cheaper deal with an unknown label. Affiliate marketing allows small and large companies to grow their brand awareness by increasing exposure to new audiences who may not have previously heard of them. By working with a select group of affiliates, you can not only get your products exposed to new and different audiences, but you can create an awareness that could have the potential to extend beyond a single-product promotion.
SEO continues to be a subject close to most online retailers’ hearts. Affiliate marketing can go a long way to aiding your SEO, through numerous backlinks to your site via your affiliate blogs, social pages and websites. This is particularly effective if working with higher-ranked partners whose audience then share and tweet details about your product or brand.
Detailed statistics and data
Working with a trusted affiliate network to manage your affiliate marketing allows you access to a detailed dashboard and sales reports. Through this you can monitor your data and tweak based on your statistics. You can use the dashboard to effectively strategist and make marketing decisions elsewhere in your business, by tracking how your affiliates are performing.
Time saving on marketing
Marketing is one of the most important aspects of your business, yet it can be a lengthy process. If you don’t have an extensive team to manage this for you, it can take you away from the process of business development and more. Putting marketing in the hands of affiliates frees up some of your time, allowing you to focus on other things.
Creates valuable partnerships
When you work with affiliates, you are broadening your connections. This allows you to reach out to industry leaders and build relationships with influencers. If you are prepared to give them some time to build trust, they will repay it tenfold by giving exposure to your products and brand.
A different income stream
Never rely on one form of marketing. If anything happens to affect that revenue stream, your business could collapse within days. By using affiliate marketing alongside other forms of marketing, you are providing an extra level of protection for your business against issues outside of your control. Affiliates employ a vast array of advertising techniques, such as email, Facebook advertising, pay-per-click, guest blogging, influencer marketing and product comparisons, to ensure all avenues are covered.
A large pool of affiliate marketers
With more and more people looking to start or grow their own business, affiliate programs are in demand. This has given rise to a large pool of affiliates to work with, which allows you to be more selective of who you partner with. You can choose to work only with the more productive and motivated affiliates, which not only will save you time, but will hopefully lead to better qualified leads and higher sales.Marketing is tough, yet crucial for success. Affiliate marketing offers a flexible approach that is cost effective, easy to manage and has a positive impact on your business and brand as a whole. If you are not sure if it will work for you or your products, look at some of the brands already using affiliate marketing. Check if there are others in your industry promoting their message through affiliate marketing and then view the huge array of brands that are seeing big success with this form of advertising.Finally, remember you can start small and think big. Affiliate marketing provides the same opportunities for all companies, whether you are a start-up with a limited budget, or a well-established brand looking for new methods of exposing your brand to more people.
“Limitless”.There are affiliate marketers who are making millions of dollars a month via affiliate marketing. I personally make more than $30000/month from Affiliate marketing. Below you could see a screenshot of my earnings from one such affiliate program:The key here is how you are approaching the whole process. Are you using a blog or using PPC to market affiliate products. The one that I have been using from the past 10 years, is via blogging. This has been the most effective one so far.