Businesses and marketing strategies are evolving every day. With the new generation more inclined towards using e-commerce websites to meet all their needs for goods and services, the markets are also shifting to online platforms.
What is affiliate marketing?
In layman’s terms, affiliate marketing can be explained as a strategy where a product is promoted through a third party. If sales are made through that promotion, the third party promoting it will get a share of the revenue. It can also be seen as paying a commission on every sale you make by promoting a particular product on your e-commerce website. If 6ku have not started your online business journey then read our blog on starting your e-commerce business from scratch..
Why affiliate marketing?
Ecommerce business Marketing or digital marketing involves continuous researching, optimizing, and ensuring that prospects and customers keep responding to your brand.
Affiliate marketing businesses create marketing strategies in which revenue is shared after the sales have been made. Affiliate marketing has recently emerged as one of the fastest-growing marketing strategies for e-commerce websites. About 90% of e-commerce businesses have already adopted affiliate marketing programs as an integral part of their marketing strategies.
With a majority of businesses using this strategy, here are some benefits that you can reap from affiliate marketing:
One of the primary concerns while choosing any marketing strategy is its return on investment. Studies show that about 16% of eCommerce sales are made through affiliate marketing. People are more likely to buy products through the affiliate’s recommendation.
The best part about an affiliate marketing system is that the ROI is always going to be positive. You are only going to pay or share the revenue with your affiliate when the sale is made. So for every penny you invest or spend, your product reaches the customer, and you make some profit too.
Tracking through numbers
The major drawback of most traditional marketing strategies is pinpointing the particular ad or promotion that brought in customers. Affiliate marketing, on the other hand, like digital marketing offers you real-time tracking. The tracking finds out exactly how many times your product or service was accessed through a particular site and creative.
Significant data like impressions, clicks, sales, revenue, cost, and much more are available with just a single click on the affiliate reporting dashboards. These exact numbers will help you formulate your next strategies and understand your target audience’s needs.
While you are using various websites to promote your products and services or direct the target audience towards you, you get a wider reach. Affiliate marketing through various sites ensures that your business gets the maximum possible reach.
Gaining visibility among your target audience through similar sites means there is a higher chance that you’re in the right place. The audience is already looking for a product similar to what you are selling. You can use the third party’s powers to build your audience and boost sales instead of relying on expensive, time-consuming marketing campaigns to get more traffic.
Use tactical promotions
With Affiliate marketing can even strategize your marketing around festivals or holidays, and launch advertisement campaigns announcing sales and discounts on the affiliate network
You can also use banner ads that match the theme of your landing pages and marketing campaigns. These banner ads can be put up on affiliate websites, social media paid promotions, or through Google ads campaigns. The idea is to unify all your online marketing strategies and let all the pieces fit together like the pieces of a puzzle.
Affiliate marketing allows you to promote your products to a broader audience through affiliate websites. It also helps you build a reliable network.
Studies have shown that roughly 93% of consumers prefer to check a product’s reviews online before finally making the purchase. You can build social presence by promoting your brand’s quality and reliability and inviting reviews from your customers. This will help you build trust amongst your target audience and bring in more conversions from affiliate sites.
Pay for results
The best part about affiliate marketing is that you do not have to pay affiliates websites to show your ads. You only need to pay when your ada result in a sale. With the amazingly accurate tools, you can easily monitor the traffic through each ad and know which particular strategies are working. Since the payment has to be as per the results (conversions), you don’t suffer any losses from the affiliate sites that did not bring conversions.
Affiliate marketing opens doors for many famous blogs, high-traffic media outlets, and other significant influencers that you can contact. You can expand your promotional scope and reap additional SEO benefits with a few simple strategies by drawing contracts with these affiliates. A smart SEO campaign need an expert seo content writer so be prepared to find one.
You can engage in link building techniques, encouraging guest posts, and use other SEO tactics to improve your website traffic after partnering with affiliates. Building authority in your market, which comes from real partnerships, results in high search rankings and free organic traffic to your e-commerce business website. You will reap SEO benefits and increase site traffic by leveraging your affiliate relationships. Learn about b2b vs b2c SEO.
Affiliate marketing, whether in the form of social media promotions or ads on affiliate websites, is beneficial for promoting your e-commerce business. You only need to pay depending on the results (leads, conversions, purchases), making this an ideal marketing strategy. Make sure your website pages and features are working properly all the time. If you have any doubts go through the benefits of having a website maintenance AMC .