Are sales just not picking up lately? If you’re sure about your products and services’ quality and give the best customer service, you may have a problem with traffic and leads. Don’t worry; you’re not the only company with this problem. According to this report, 61% of marketers have traffic and leads to their primary concern. It’s only natural, as traffic is the blood flowing in each company.
But it doesn’t mean you can overlook it since it’s inevitable. There are several solutions for this slump, and one of them is making use of an affiliate marketer. With this method, there is a large possibility of a lot of traffic arriving at your page in a short amount of time, especially if your affiliate has a large set of audience to place your product in (a metaphorical) display.
What Is Affiliate Marketing?
It’s a marketing strategy used by many companies to generate more sales and traffic on their page. As an e-commerce merchant, it’s not often you have a broad audience to expose your company to, but a lot of other individuals have that, like influencers, bloggers, and even media websites. Using their platform, you can try your hand in a different audience instead of locking onto one specific one.
Though getting an influencer might give you various types of customers, customers are customers at the end of the day. Through those sales, the advertiser can gain incentives. It’s up to them on how they present your product to become attractive to customers. Some companies even offer a discount if you come to them from a specific influencer’s page, and it’s a great technique to gain new users for your products and services (e.g., a code you can key in before purchasing for a 15-20% discount).
How Does It Work?
Since this technique consists of delegating the responsibility of product marketing to several individuals, it uses each of their abilities to spread the word about a particular product effectively. This type of marketing has three different parties involved: the seller/creator of products, the advertiser, and the consumer. We’ll explore more of how these three groups of people contribute to Affiliate Marketing as a whole.
- The Originator
The seller can either be an individual doing a solo business or a large enterprise. Nonetheless, they are considered the merchant and retailer of the product offered. This product can be a tangible thing such as household goods or intangible services like VPN. They are the originators of this service and the group that usually initiates or reaches out to an advertiser.
They make the products but don’t necessarily need to participate in the advertisement. However, some passionate and product-driven creators advertise their products and services as actively as the affiliate. Some even have their platform and self-advertised, but still, require third-party exposure most of the time.
- The Advertise/Affiliate
AKA, the publisher, and affiliates are individuals or companies with a large amount of following either on social media or other platforms. That saturated audience serves as their asset as they insert reviews of products fitting their niche in said platform. For example, beauty gurus on YouTube may get offers to be affiliated with make-up brands, while new and ongoing games can be exposed to a gamer YouTuber’s subs. It is highly encouraged to pick a one that closely ties to your product because the type of audience matters a well.
What happens then is in each sale the originator gets, a percentage of it goes to the advertiser. Sometimes, the deals just spike up, either due to interest or to show support to the affiliate. If you’re interested in becoming one, try being a Groovefunnels affiliate and see how it goes. Companies like them provide users with tools and templates for their websites to be put up immediately.
Suppose you affiliate with an individual or influencer that focuses on make-up, while your product mostly focuses on VPN or other technology-related services. In that case, chances are you’re wasting time and money. Either the influencer can’t adequately portray their interest in the services, or the audience themselves can’t relate to it. Of course, good affiliates also choose the product they promote, as it will reflect on their online reputation.
- The Customers
Better known as consumers, these are the groups of people from the affiliate’s audience that has bought the products or service. They are an essential part of this whole strategy. Without any consumers, affiliates can’t advertise, and sellers can’t dispose of their products.
Often, advertisers are upfront because they have a small percentage with each sale of their promoted product. On the other hand, some legitimate buyers don’t even know what goes on behind the affiliate and seller.
This notion rarely troubles consumers. It can be a big reason as to why they bought the products in the first place. Consumers that are highly loyal to the affiliates, most especially Instagram influencers and YouTubers, often buy their promoted products more as a sign of showing support to the fellow than an interest in the work.
Benefits From Utilizing Affiliate Marketing
This is a list of benefits for the sellers/originators who decide to venture out with this strategy type. Read on to find if these benefits are worth the risk.
- The Pay Is Based On How Well They Did
Most contracts with affiliates state that their commission can only be given once the desired result happens for the company/seller, but some base it per sale sometimes. Either way, the quality of their advertisement and how often they advertise it affects their overall commission even if it is per sale, so they’ll ultimately do their best to get as many deals from the product as ethically possible.
As for you (the seller), all you have to do is wait for the magic to happen as affiliates do their thing. Often, companies and affiliates partner up long-term, and some influencers even become the company’s face. Others create a line or a personalized item relating to the affiliate, and the sales skyrocket.
- Increase The Size Of Your Audience
To partner up with an individual means opening your doors to fresh, new clients. Because advertisers can be found all around the market for different types of services, your affiliate may have a more massive following than you, which is a great thing. If you’re looking to have more eyes on your company, then an advertiser may be the answer to your problem.
- It can reinforce your reputation more
Partnering up with trustworthy and well-known affiliates will also somehow morph your reputation similar to theirs. Frequently, consumers will think of an influencer and automatically connect them to the brand they recently advertised. If that famous icon gets in a scandal, the first to get the brunt of the fall is the affiliated company. It is essential to research your affiliate first before reaching out, as online reputations are as fragile as glass nowadays.
The opposite of that holds many promises to the company, such as long-time exposure to old and new audiences, given the advertiser’s reputation is flawless. The reason why the affiliate is an essential ingredient is according to an article: https://www.inc.com/craig-bloem/84-percent-of-people-trust-online-reviews-as-much-.html, which stresses on where consumers put their trust. It says almost 86% of customers trust 3rd party reviews and advertisements as they recommend a friend.
The cost of commissions for a specific affiliate pays less than actually branching out to that community and making a whole new campaign. Not only will you venture into the highly-dense market, but you won’t have a familiar face or a big name to back you up. Chances are you’ll only get drowned with the million other brands. Having a partner gives you a niche in that market effortlessly without burning a hole through your pocket.
How To Spot A Great, Successful Affiliate
We know that bit about your reputation earlier scared you, so we provided a small list for you to follow on finding an affiliate that won’t drag your brand’s name through the mud. Here are some tips:
- Find One That Has A Connection With Their Audience
One that answers to feedback makes polls each week, actually read comments under their posts, and cherishes their audience. A company or individual like that will most likely treat you, their partner, the same way. And if they accept your proposal, know that they have trusted your company enough to expose it to their treasured audience. This type of influencer/company will be one of your most extended partners in the market.
- Personalized Advertisements
Were the products they reviewed in the past personalized or were they all done uniformly, almost like a robot? You wouldn’t want an advertiser that is careless and puts no heart in presenting your product. If they aren’t engaging, chances are their audience won’t care as much as well.
- An Affiliate That Puts Care In Choosing The Products They Put Up
Are they advertising shady brands? Do they have a mix of products on their website/page despite having a niche audience? A yes to both is a no to a proposal their way. Pick an affiliate that actually chooses products that fit their niche and not just some random make-up brand on a food-centric website.
To add, if they don’t even research the brands they cover and end up partnering with a scam company, you will be affected as well. Consumers don’t usually care about setting aside brands, and once a scam gets tagged with your company, the stigma is hard to remove.