You don't know what you're doing. Ok, maybe you do. But a little karate's a dangerous thing. We blow the hinges off the best kept secrets in DR, and will show you where you're making mistakes and how to correct them FAST.
Affiliate marketing: a powerful marketing tool you might not be utilizing yet. Not sure if it’s right for your ecommerce strategy? We promise it’s worth the effort.
First, the basics. Think of affiliate marketing as outsourcing. You connect with an affiliate and provide them with a tracking URL to monitor traffic. The affiliate then markets your product(s) via AdWords, Youtube, blog posts, and more (make sure to agree upon the ways in which they can promote your products in advance). Then, leads are acquired and customers purchase products. You determine which affiliates created these leads and provide a payout. Rinse and repeat! Below are the three big ‘whys’ of jumping on the affiliate train now.
Because the affiliate’s marketing is hyper-targeted and they know how to reach their segmented audience, you will almost certainly increase your customer database. This means once conversions are made, you have a larger audience to send email blasts to, and increase sales overall. Further, it’s often best to choose affiliates that are already loyal customers in order to procure genuine brand ambassadorship. Affiliates are especially useful for turning consumers of formerly unattainable markets into customers.
Instead of an experimental marketing strategy that can go one of a millions ways, you’re only paying for results. An affiliate might drive a ton of people to your landing page, but you’re strictly provide a cut of actual sales, a predetermined percentage by you. A blown up ad budget is an unlikely result. Talk about a cost effective!
With affiliate marketing, you’re not handing over assets for a team to run with, crossing your fingers that it all works out. Whether you want a one-product blast, a long term partnership, blog posts only, or specific incentives, it’s all completely up to you.
Affiliates lead you to new consumers but also new affiliates and other marketing outlets. Build relationships with your affiliates to immerse your brand into segments of your current market and submarkets and broaden your outreach in your industry, especially if your products have industry overlap.
Ready to extend your marketing reach with little risk and potential for a lot of reward? Either join an affiliate network or start a program of your own and get those conversions.