The online recommendations have a great role to play in customer buying behavior. Affiliate marketing is all about building your affiliates who can promote your products and increase your online recommendations and sales.
If you are a startup, it could do wonders for you!
What are the key benefits of Affiliate marketing?
You pay only when affiliates help you increase your sales.
It runs 24 hours a day. So, basically, you are selling while sleeping!
It sounds more convincing to your consumer when they know about the product from sources other than the company itself
It increases the overall traffic of the website. Even when the conversion rate is not 100% but still your prospects will be landed on your website to explore.
It provides various quality backlinks which increases the search engine ranking of your website.
Steps to set up your Affiliate
There are 4 key steps to start an Affiliate marketing programme. You just need to go step by step to achieve your business objectives.
How to get Affiliates?
Now, a very important question: How you get those affiliates working for your brand? Here are some easy ways to get affiliates for your business:
Connect with like-minded bloggers: Look for websites and blogs who have similar interests as your target audience. Then, send them an invitation via email or phone. Bloggers can actually become a great affiliate especially when they already have a good customers base.
Be visible: Ensure that your affiliate program is visible on your navigation menu and on key places on your websites. It will make it easier for your potential affiliates to sign up and promote your product.
Online Affiliate Network: Sign up with an online affiliate network to get connected with affiliates who have similar interest. Such as ShareASale, CJAffiliates etc.
Affiliate program directories: List your affiliate programs to various Affiliate program directories. They are often visited by affiliates who are looking for new programs within their niche. Such as AffiliateDirectory.com, affiliatefirst.com etc.
Use Compete: Using a tool like Compete will give you some insight on how often your prospective affiliate’s site is being visited on an average basis. More engagement on an affiliate site equals more sales for you!
What are Affiliate Marketing Models?
Affiliate marketing has 3 different models. You can choose any one of the 3 models. A brand can also choose more than 1 model depending upon their business objectives.
Pay per sale: In this model, you pay commission to your affiliates everytime they sell a product using their affiliate link. This is a preferable model when you are an e-commerce business or you are desperately want to increase your product sales.
Pay per Lead: In this model, you pay commission to your affiliates every time a customer lands on your website using the affiliate link. It is a preferable model when you want to increase the overall footfall on your website.
Pay per Impression: In this model, you pay commission to your affiliates every time a customer views an advert on their website. It is a preferable model when you want to create awareness about your brand or new products.
How to Incentivise your Affiliates?
To make your affiliate program successful, it is very important to motivate your affiliates so that they can continue promoting and selling your products. So, along with providing them commissions, you need to keep them engaged to your brand.
Here are 4 things that you can do to keep them motivated, engaged and informed about your brand:
Affiliate marketing is a great marketing tool where you can build your marketing and sales team outside your company. All you need is to make an effort to build a robust program and execute it at a vast level.