This digital marketing strategy is how companies have reinvented the art of advertising and selling their products. The multi-billion-dollar affiliate industry is a combination of brand marketing and paid advertising that is only rewarded when the complete action takes place. There is no loss, and the payment is very well justified.
However, the bigger question is; Is affiliate performance marketing ideal for your brand?
Straight to the point; affiliate performance marketing is for you if your business is either small or medium-sized. The performance-based payment model assures flexibility and low expenditure in return of high value, which is basically what small businesses need.
If your business programs are based on eCommerce, subscription, or if it is a family-run or even local business then you are on the right page. If you identify your brand with any of these types, then yes, affiliate marketing will boost your brand in unfathomable ways. You should go-for-it if your brand is a:
Local business: Growing your local footprint is the heart of your business as a local entrepreneur. An affiliate influencer will boost your brand in your city and you will obviously have more customers.
Subscription-based company: Like it or not, but your online business needs affiliate marketing to attract new clients.
Startups: Affiliate marketing can help solve problems that startups often face while also putting them on the map among big brands.
eCommerce shops: Look at Amazon for example. Amazon created its affiliate program in 1996 and is the longest-running to date. Having your eCommerce mentioned in ways with an affiliate will help you with organic traffic. For example, check out VoucherCodesUAE’s Blog, which writes authentic content for affiliate partners and improves Google ranking.
B2B companies: Affiliate marketing does not just benefit B2C companies but the importance of it for B2B is on the rise since everyone looks for clients on the internet. Using affiliate will make you visible and viable.
Why opt for affiliate marketing?
Even though business is all about the risks involved, marketing should not be one. Traditionally when you choose to advertise your product, you select an agency where you do your upfront payment, rather blindly. Carving an ad space without any assurance of the payment and outcome is simply… outdated. Your money goes to waste as you pay the advertiser without any knowledge of conversion.
So in a nutshell, you opt for affiliate marketing because it is smart.
The other benefits include:
- Low risk and grand satisfaction: Gone are the days of traditional marketing where you invest money and await the results which may or may not be fruitful. Payment after the action is completed guarantees low-risk, and investment that is worth it.
- Keeping strategies in track: Thanks to technologies that tracks performance. The possibility to track makes it possible to monitor all the campaigns and see it for yourself on what works and what doesn’t. The numbers never lie.
- Building brands: Third-party inclusion expands your brand’s name. The affiliate partners will have their own set of customers, and your brand’s entry into the larger group opens doors of recognition beyond your customers. The outcome would breed familiarity, increase traffic, more market shares and more customers for you.
- Extremely focused: Affiliate marketing is not only target-oriented but also focused on Return on Investments (ROI) to generate maximum profit at low-risk value.
- Affiliate marketing is ever-evolving: Your product may be amazing, but your marketing strategies cannot be orthodox, especially in the world of Social Media today. The competition is rampant and affiliate marketing can help render the extra-boost to keep up with the changing times.
- Less-hassle: Managing a business is a tough task, and trying to keep it as hassle-free as possible requires fast and forward-thinking. The marketing strategy which gives the ability to measure everything online from the search rates to brand reach to conversion rate, all boils down to one single marketing program, which is affiliate marketing.
10 golden questions you need to ask yourself before getting started:
- Who is your major competitor and are they using affiliate marketing?
- What is your company’s long-term marketing strategy? Is it keeping up with the times?
- What is your budget like? Do you prefer high-cost marketing or a low-cost one?
- Do you want organic traffic through affiliate partners who will mention your brand in loud as well as subtle ways?
- Are you ready to handle massive sales that will come through affiliate marketing?
- Do you want your customers to get added benefits through affiliate programs?
- How visible do you want to be?
- Is your brand comfortable venturing into a new set of the target audience?
- What will you lose through this program?
- What will you gain through it?