For the recent years marketing has obtained a new form. It has come to a new level. Affiliate Marketing is now playing a really big role in the financial market. It presents a ready-made instrument to make people speak about your businesses.
Actually, it doesn’t matter if you run a big or a small business your marketing strategy shall presuppose such things is advertising campaigns, website optimization and proper activity of the customers that in fact make your profit. And affiliate marketing is a good way to boost the progress of your marketing strategies.
Affiliate marketing is an advertising model where a company pays a fee to third companies for generating traffic that in its turn leads to the good and services of a business. Third counterparties are called affiliates, and the fee they get encourage then to look for new ways to promote the company’s goods and services.
Here you’ve got some numbers that will make you fall in love with affiliate marketing:
- It is expected that by 2020 affiliate marketing spending in the USA will increase up to $7 billion
- Affiliate marketing is responsible for 16% of all generated online orders
- Affiliate marketing as a model has been attracted by 81% of brands and by 84% of publishers.
Another good thing about affiliate marketing is its ROI. It is one of the most ROI-positive strategies for a small business to make money online. Running a business is all about money – it’s a common knowledge, but today we would like to present to you 8 more reasons to turn on affiliate marketing.
1. Monitoring of progress
Almost all the affiliate marketing platforms award their users with the systems of real-time monitoring. Such systems are made to show you when a lead took place, how many clicks were made or how many people visit your website. The programs also show impressions and conversions. With the help of tracking systems, you may track the dynamics of your success and that will help you to understand what you are doing right and what you should more focus on.
2. Payment based on the performance
Affiliate marketing differs from its usual form in a way of paying for advertising made. Businesses pay for the outcomes they have as a result of affiliates’ advertising campaigns. Cost per action, cost per click, cost per order, cost per lead – choose what is more convenient for you and pay not just for work but for the results of work. You can establish the rates yourself.
3. Social proof increase
Social proof is one of the key concepts of online marketing. It is a psychological phenomenon studied by sociologists, psychologists and other scientists. We are sure you know what we are talking about. Just imagine the situation; you come into the bar on Friday night and see nobody there. The first thing you will think about is that it is not a nice place to spend your time and money. In contrast, the neighboring bar where there are people wall to wall will leave you with the impression that it is the best place on the street. That is exactly social proof. What about making orders online. Let us again give you some statistics:
- 70% of young audience heed to the recommendations of their peers
- 60% of people decide to buy something as a result of an impression of a post made in social media or a blog review
- 95% of consumers first read the reviews and only then make orders
4. Online business scaling
In frames of the affiliate marketing, you should communicate with affiliates, bloggers, and other businesses. Affiliates are not officially part of your marketing team, but they do a great amount of work. They can promote your goods and services on their websites as well as use much more means to promote your business. In frames of scaling we can suggest you do the following:
- Bear your competitors in mind
Try to find out what conditions your competitors offer to affiliates, which affiliate platforms they use. Try to be the best employer for the best affiliates.
- Vary your affiliates
Do not assign all the possible strategies to one and the same affiliate. Do not concentrate your affiliate revenue in hands of one and the same affiliate as well. Distribute responsibilities and revenues among a number of them.
5. Facilitate promotions
Times of anarchy on the Internet are over. Nowadays it is almost impossible to control your business (even if it is small) alone as well as to develop your affiliate strategy. You need experts who will facilitate your promotions, who will protect you from scammers and who will create a sustainable traffic source.
6. Website reliability
About 80% of e-commerce websites fail. One of the main reasons is the lack of traffic. Affiliate marketing is the very thing that is made to direct traffic to your website and to sustain it.
7. Enhance sales
As a result of work executed by content publishers sales revenue has increased by 240%. So take your affiliates as reliable business partners and advisers. Work with them to achieve your common goal – to enhance the sales of your product.
8. Sustainable positive return
Positive return makes the very basis of the affiliate marketing principle. This type of marketing is based on the performance. It means that from the very beginning you are spending money only for the result achieved.
Here you are. Now you’ve got 8 more reasons to dip into the affiliate marketing industry.