It seems that at the moment affiliate marketing is a buzz word, but how can affiliate marketing help you to increase your growth? Affiliate marketing is a very low risk strategy where you pay or are paid on results, it is a lead generation strategy where payment is only made to either party when a customer purchases a product or service through one of the Large Affiliate Review sites. It is becoming more and more popular to apply affiliate marketing to a variety of products by an array of brands and it is definitely a marketing strategy that you want to be involved in to help grow your business.
Affiliate marketing is a pretty simple concept but one that can yield amazing results. We’re here to help you understand and apply affiliate marketing, follow our 7 effective ways to boost your growth by using it!
Select a Good Partner and Build a Network
If you are looking to grow your business and want to use affiliates to help you achieve this, you need to select good ones. Find affiliates that have a proven track record of generating leads, converting sales and getting customers to purchase the items that they are promoting.
A good affiliate will have a record of the brands they have worked with and the results they have garnered from their work. In the beginning you may struggle signing up affiliates, don’t be disheartened, it is a slow process, but it is always easier to sign up more once you have one. Don’t trust prebuilt affiliate networks, these are often not effective and a waste of money. It is far safer and more beneficial to slowly build your own marketing affiliation network; we promise it will be worth the perseverance.
At the core of an affiliates work, as well as yours, is sustainable SEO or search engine optimisation. Make it clear to your affiliates that you want to provide valuable content, not just articles filled blindly with SEO that makes your product pitch almost unreadable. Gear your pitch towards humans and not the search engaging algorithms that rank them. This will also earn consumer trust as it makes your business look more human.
If you are wanting to increase your growth rapidly, offer your affiliates performance based bonuses. This will incentivise them to market your product more and drive consumers to your sites. It is not advised to have this type of bonus running all of the time, as that then takes away peak performance, only apply it when you need to pick up sales or want to expand quickly, such as the situation where you have taken on a new product.
Only Sell One Product Of A Particular Type
Whether you are selling Instagram automation or SEO services, only sell one item from each. That way your consumers will trust you more than if you sell multiple different services from the same type. This way there is no confusion and your affiliates also won’t get confused! It also means that all of their attention is focused on singular products, so there is no stress involved in changing descriptions for different products from the same item. Also refrain from selling bad products, if you are offered the chance to sell a product you know to be bad, don’t do that to your customers that trust you. If you have spent time building relationships and rapport, the last thing you want to do is lose that for the sake of a quick buck.
Leverage The Power Of Influencers
Whilst you may not agree that an influencer is a real job or a title, the reality is, they do influence people and have a more genuine dialogue with their audiences than most businesses. Not only do they have a more genuine dialogue, people are exceptionally trusting of influencers and are more likely to purchase something used by them, than something marked using traditional methods. Find an influencer that matches your niche, goals and reflects your business. This way they will market your product to their consumers which in turn will increase your growth!
Sign Up Affiliates On A Conversion Rate
Instead of paying out per month or per week to your affiliates, sign them up on a conversion rate. That way there is always an incentive to do better, as the more customers they convert into purchasing your product, the more cut of it they get! This also keeps up the growth momentum, as after a few months of promotion on a base rate, the effort may decrease, therefore a conversion rate will help drive people forward.
Optimise Your Website for Sales
Affiliates are able to drive people to your website by utilising a variety of methods, but once your customers get there, what next? If your website is a disorganised mess, affiliates aren’t going to want to work with you and consumers won’t want to purchase the product or service you are offering. Make your marketeers life easy as well as your customers by having a cogent flow to your website that makes it clear what people are purchasing. This will also help increase the affiliates willingness as they will be happy to work with a provider who takes care in what they do!
In this day and age, we can’t ignore the power of affiliate marketing. The key to operating this strategy is to keep your business goals at the core of what you are doing, this way you will continue to see customers coming through and purchasing your goods or services. Make sure that the content you provide is honest and real and that your affiliate network understands this.
We understand that building your network may well be frustrating at times, but it will be worth it when you have a strong team working with you to promote your products and increase your growth. You can use performance bonuses if you need to quickly drive up growth, but don’t apply these all the time, the best thing would be to have your affiliates working on a conversion rate, therefore they are motivated to promote your product and services, the more they convert, the more they get.
Finally, only work with people that reflect you and your organisational goals, if you are going to work with influencers, make sure they reflect your business and will have a synergist relationship with your brand, they make you look better, you make them look better and you both grow together. Affiliate marketing is a low risk high reward strategy when deployed in the correct way, follow our 7 easy steps to apply affiliate marketing and grow your business today.