7 REASONS WHY YOUR BUSINESS SHOULD USE AFFILIATE MARKETING TO GROW
In our fast growing internet world where businesses are springing up every minute, it becomes very easy to get overwhelmed by the competition taking place on a daily basis. Because of this, being heard amid the roar of your competitor’s voices is a daunting task in today’s crowded market. We find this to be shockingly true each time we read a magazine, watch the television, or surf the web. As a result, businesses are now looking for fresh and more effective ways of increasing brand awareness and more significantly, create brand loyalty. Among the most crucial tasks involved in ensuring a brand’s success, is to develop an effective marketing strategy. So, having an effective marketing strategy is very important to the success of your business. One of the biggest challenge companies face today is how to generate traffic and leads to their products and services.
To achieve this, many companies are ready to increase their lead generation budget to increase their brand awareness. Thus, pay people to help expose their brand and products to reach more audience. There are different strategies; one of the most effective of them is affiliate marketing.
Affiliate marketing is a marketing technique that involves the payment of commissions to people (affiliates) to promote certain products or services using links unique to each affiliate. This a very effective way to expose the brand and its product/service to reach out to more potential customers.
This technique is particularly unique or many reasons, some of them will be discussed below:
GROW BRAND AWARENESS
Affiliate marketing helps your business to grow by giving you access to the marketing expertise of your affiliates and are able to build a vast and effective marketing channel of affiliates. Using different ways and techniques, these affiliates promote your goods and services and this will help you increase your customer base. Affiliate marketing allows small and large businesses to grow their brand awareness by increasing exposure to new audiences who may not have heard of your business before. Now, imagine you have a new business that just got 1000 affiliates that register to promote your product, assuming each of these affiliates have at least 10,000 subscribers to their email list. When it’s time to promote your product (let’s say an eBook), your product will be exposed to 1,000 x 10,000 = 10,000,000. That is a whooping 10 million potential customers to buy your eBook. Isn’t that going to be insanely awesome?
In other forms of advertising or brand awareness campaign strategies, companies spend more money promoting the brand and that doesn’t guarantee sales on the part of the customers, the company ends up with low return on investment. This kind of situation is common with Pay-Per-Click advertising where brand owners are charged per click made on their advert banners or leads sent their way, in this case they pay for each of those clicks and on many occasions the clicks don’t even guarantee sales. So when you look at it from the companies’ perspective, there’s an imbalance in their books. But with affiliate marketing brand owners only have to pay out when a sale is made, while also offering flexibility to pay publishers for influencing sales. In this case you don’t have to pay affiliates who run ineffective campaigns for your products. As a brand you are liable to pay your affiliates only when sales are made, otherwise your money remains in your pocket. If you ask me, that’s wisdom (your budget remains intact).
In summary, Affiliate marketing ensures your marketing is cost effective, no excess payment.
LOW START UP COST
When compared to other forms of business expanding strategies, affiliate marketing offers small businesses the opportunity to expand with zero or very limited budget. It creates a level playing field for businesses to grow and expand irrespective of the budget available. And that is good news for both new and existing brands.
With affiliate marketing, businesses can create effective partnership with experience affiliates which on a normal day might proof to be a difficult thing for startups. With the wealth of knowledge and skills of affiliates to tap from, small business will surely benefit in the end. It can provide a platform for these business owners to work with the very best in the industry which is big win for them because traditionally, employing that highly skilled and experienced workforce would cost them almost 20x more. Here, every business has the opportunity to tap into the same wealth of experience.
Plus, it also gives you the opportunity to handpick you partners. Not every affiliate can promote your product, so it gives you the opportunity to choose who you want to work with.
With affiliate marketing brands can now incorporate social proof into their online businesses and in turn can lead to more sales of product and services. Nowadays customers rely heavily on social proofs before buying anything online. Typically, people want to see reviews and testimonies from others before reaching for their cards to make purchases online. And this is where affiliates come in; now, because many of them have built a good rapport and trust with their audience, whenever they review a product and recommend it, their audience will take them more seriously and are more likely to take action.
This strategy works so well today thanks to the ever increasing social media platforms, review videos, blogs and testimonials on the internet.
YOU GET TARGETED TRAFFIC
You must have heard of the saying ‘TRAFFIC IS KING’, while this true to an extent, I’d argue that it’s not completely true. Having traffic alone might not be enough to get your business sales rolling, however, having quality traffic (people genuinely interested) to your sales page is the dream of any business owner online. And this is where Affiliates come in, most of them already have people interested in their niche. So getting them to promote a product to their audience is pure gold. They know where to find these customers and that saves you time and energy as a business owner. They bridge the gap between you as a product owner and your customers.
GIVES YOUR PRODUCT ACCESS TO FOREIGN MARKETS
If you ever desire to take your business to the global market, affiliate marketing represents a cost effective strategy to adopt. Imagine having affiliates from 100 different countries promoting your digital product at the same time to their compatriots, that’s incredible for you and your brand. The best part is that it cost little or no capital the invest.
Lastly, as a product/business owner, affiliate marketing also saves you time and energy.
The truth is, marketing your product or brand is not an easy task at all but it is very essential for your business to become successful. Affiliate marketing offers you a flexible way to do that effectively. It has many benefits and when integrated into your business can ensure you manage your marketing budget well and increase your brand awareness locally and globally while also making lots of profit for little effort put into marketing your product.
Alright, this is where I’d stop for now, I hope this helps you.. Until then, get to work on what you’ve read and feel free to share with your friends using any platform below
ABOUT Adie Cyprian:
Hello! Its my privilege to meet you. I'm Adie Cyprian, but my friends call me Cypriano, I hope you do the same. I live in Abuja (Nigeria) from where I'm currently running my network marketing business globally.
What I love most about this industry is helping others, the level of personal development it brings, the ability to be your own boss and call your own shots, working f...Continue Reading
No Comment on this post!
Subscribe to our newsletter to get early information about new models and blog posts.