You have probably heard of affiliate marketing, but you are not sure what it is about and what benefits it can bring you.
Affiliate marketing is a popular tactic to boost sales and generate significant online revenue by offering affiliate products. Extremely beneficial for both brands and affiliate marketers.
What is Affiliate Marketing?
Affiliate marketing is the process by which an affiliate earns a commission for marketing the products of another person or company. The affiliate simply looks for a product he likes and then promotes that product and earns a share of the profit from each sale he makes. Sales are monitored by affiliate links from one website to another.
Affiliate marketing is a results-based business where affiliates earn money by sharing revenue.
Affiliates become independent promoters of the products, services or even a range of products chosen, by providing text links of a certain product page, like a listed product in amazon. Affiliates are free to choose which techniques or strategies to reach the most customers.
Affiliate marketing is indeed a great opportunity to make money on the internet, but don’t be fooled if you think it’s effortless. It is a profession like any other, it brings great benefits, but it requires knowledge, experience and work.
But, after all, what are the main advantages of affiliate marketing for the advertiser? Is it worth paying commissions for an affiliate to advertise our products or services? Is it really necessary? Does Affiliate Marketing Pay Off?
Main benefits of having affiliates working for your company:
1. Is Based on Performance / Results
The main advantage of having an affiliate program is that it is totally performance-based. Since affiliates only receive a commission after the desired action takes place, they are more motivated to drive conversion.
Thus the company saves time and money, allowing it to focus on other business strategies.
2. Helps to Broaden Your Audience
Affiliates can be found in all existing markets and product categories. There are always relevant sites that we can associate with. The good news is that many of these affiliates already have an established visitor base.
These partnerships offer the opportunity to expand into new markets that you otherwise would not explore, giving your brand a much stronger online presence.
Think of these partners as an extension of your current marketing or sales team.
3. Help Leverage Your Reputation
By partnering with trusted bloggers and websites, you can increase the reputation of the brand and its products. These partners will promote their products and further consolidate consumer confidence in your product or service.
During the research phase of a purchase, consumers are more likely to trust third-party opinion than content produced on the website that sells the product. The consumer sees it as an independent and unbiased opinion, therefore more credible.
Consumers also tend to rely more on the sites they usually go to for recommendations on certain products or services.
4. It’s more economical
For many of the reasons already mentioned, affiliate marketing can be extremely underrated. If you only pay commissions when the desired conversion occurs, then you are not wasting advertising dollars on channels that have no proven value.
In addition, recruiting affiliates in new markets is an easy way to enter that market. Without the overhead of creating an entire marketing campaign it is reducing the need to invest money in an unproven market just to test whether it works.
5. Affiliates can quickly scale their traffic (and sales)
In conjunction with other marketing efforts, recruiting affiliates for the program will allow you to leverage your traffic more quickly. The more sites that link to your pages, the more opportunity you have to convert those users into customers.
Furthermore, although affiliate links do not have a direct impact on search engine rankings, they will have a ‘halo effect’ in terms of more people searching for your products and navigating to your pages – which is great to your position in the search rankings.
In addition to a higher level of referral traffic, you will see an increase in your direct and organic traffic.
Affiliate marketing can be a very effective, low-risk investment to help expand your marketing efforts beyond traditional marketing. For the reasons listed here, affiliate marketing is almost always worth the investment and can take your online store to new heights.
Are you already using affiliate marketing? Feel free to contact us and comment below!