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More leads, more conversions, more sales, more repeat customers. If you’re a business owner, chances are you’re looking for at least one of these for your business – if not every single one. Perhaps you’ve already given social media promotions a shot. Maybe you’ve tried email blasts to boost your marketing, or even placed (vastly) expensive ads in your local newspaper and TV channels. But ask yourself this: have you tried affiliate marketing to grow your business? Maybe you have without much success, or perhaps this is the first time you’ve heard the phrase. Either way, you’ve come to the right place because we’ve curated the three most important tips for using affiliate marketing to grow your business!
To get a deeper understanding of affiliate marketing, imagine it as outsourced, commission-based marketing. In other words, with affiliate marketing, someone who isn’t directly a part of your business is promoting your business.
To illustrate this, let’s say you have a business that sells organic skincare products.
With affiliate marketing, you’d get in touch with bloggers, YouTubers, and the like.
They would then integrate your products and services into their content, i.e., the beauty and makeup blogger writing a blog about the importance of going organic with beauty products would feature your product in said blog.
Because these are sources consumers trust, the result is often a sale.
In return, your affiliate partner (the blogger who featured your product in their writing) receives a payout from you.
What’s more, with most affiliate marketing campaigns, you only pay when there’s a product sale through their channel, unlike traditional marketing and advertising, where you are required to pay upfront. Therefore, unlike traditional marketing folks, your affiliate marketing partner has every reason to make sure they convince their audience to put their dollars down and buy your product.
Affiliate marketing has become a tried and tested form of marketing for brands worldwide. So much so that spending on affiliate marketing is projected to reach a whopping $15.7 billion in 2024. This makes perfect sense as you get your sales, your affiliate partner gets their payout, and your customers get trusted products. A win-win-win, if ever there was one!
Let’s now dive into the three tips for using affiliate marketing to grow your business.
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Casting a wide net can be a huge temptation for most businesses – small and large. Unfortunately, this isn’t a strategy that always works. Especially when it comes to affiliate marketing, it is, after all, a modernized, technologically enabled version of word of mouth.
This is why you need to ask yourself (and them) a few critical questions before you finalize your affiliate marketing partner.
If you’re in the business of selling antique furniture, a blogger that writes about home decor would be a better fit for your affiliate program than someone who writes about travel. The relevance of the blogger in question to your business is as important as their follower count, as you want to ensure that your affiliate partner has some convincing power over their followers.
Once you’ve identified that your potential affiliate partner’s niche matches your business, you can then look at how many followers they have. Within your niche, the greater their following, the higher their chances of sales.
Before putting your penny down, ask your potential partner what their history looks like. This can come in the form of reports that show clear statistics and hard numbers about how they’ve been able to help previous businesses make sales.
Optimizing your website is a crucial step, as choosing the right affiliate partner will all be for nothing if your website doesn’t entice your potential customers to make that purchase, download the app, or sign up for your course. This is why you must ensure that you have created a good user experience on your website with perfectly optimized content. Here are some techniques to increase your website’s conversion rates.
What’s in a name? We say everything. Your domain name has the potential to make you stand out from the crowd and add credibility and authority to your business. Most businesses will compromise on an online name, mainly because the name they want is often taken. But when you consider new domain extensions like .Store, .Online, .Space, .Site, and more, you don’t have to.
These new domain extensions give you the benefit of a short, memorable and unique domain name. One that lets you keep your brand name without adding unnecessary characters or changing its spelling. For instance, vintagerecordzonlinestore.com can simply be vintagerecord.store.
While the versatility of domain extensions like .Online and .Site are great alternatives to the traditional .com, other extensions like .Tech and .Store are perfect for niche businesses like anything related to the tech industry or e-commerce.
Most people today browse the internet on their mobile handsets. A website that isn’t mobile-friendly today may as well not exist. Be sure that everything on your website – including images – is mobile-friendly.
Also, it should go without saying that your website should cater to all, even those who are differently abled. Optimizing your website for voice search is a great starting point to achieving this goal.
Over 80% of consumers in the US use coupons for their purchases. That’s because people love deals and paying less as often as they can. In one simple but powerful word, consumers worldwide love value.
Be sure to leverage this important part of the human psyche to help your affiliate marketing program see success. Aside from helping your customers save money (and come back to your business for more), coupons also allow you to easily track your affiliate program’s performance.
But before you jump into the world of coupons, remember that they have pros and cons – like any other marketing tool. Here’s a quick look:
We’ve just looked at what affiliate marketing means and the three most important tips for using it to grow your business.
Here’s a quick summary of these essential tips.
Make sure you choose a relevant affiliate partner with a good reach and a stellar sale record.
Make sure your website is well optimized to turn leads into conversions, and begin using coupon codes to create more value for potential customers and turn them into repeat customers.
These tips ensure that your business sees steady success throughout the affiliate marketing program.
But before you go, bookmark this page to quickly find all these tips once you decide that your business needs affiliate marketing to succeed!
