Don’t we all want the best recommendations? Whether we are planning to have lunch or dinner outside with our friends and colleagues or we wish to visit a nearby library or a museum with a couple of friends, we always want to feel satisfied before we make our visit.
What do we do when we want recommendations? We open up our Facebook and check out the reviews posted on the place we wish to visit. What’s even better is when we are completely not aware of the place and suddenly a friend of ours recommend us to visit that place.
Such marketing practices where others recommend the audience to try something completely new for a change is termed as affiliate marketing. The concept is pretty much leveraged in the world of e-commerce. Affiliate market is the e-commerce version of product promotion by leveraging an online influencer.
What is Affiliate Marketing?
If you want a 100% return on investment every time, then nothing works better than affiliate marketing. It is one such marketing channels which inquire you to pay after a purchase is made. It is estimated that by the year 2020, the U.S. affiliate marketing expenditure will cross an alarming budget of more than $6.8 billion. More than 81% of the international and local brands are using affiliate marketing programs and approximately 16% of all online orders on e-commerce platforms are generated because of this marketing.
Websites which offer affiliate marketing programs will have:
- The website presence will be trusted on the Internet.
- The trusted website will generate a good amount of traffic.
- The content of the website will constantly stay up-to-date.
- The website will have a good level of influence on the audience.
- The website content will be knowledgeable and valuable.
Affiliates rely on commissions and hence, if you want to convert the incoming site visitors into potential buyers, then you will need a perfect game plan in place. It’s all about getting the highest earnings per click (EPC). Even if you are working with an influential affiliate but your e-commerce store is not generating good enough, they will stop promoting your product and will switch their focus on other eCommerce websites which have relatively higher conversion rates and EPC.
Therefore, affiliate marketing is not just signing up on a platform but it is a complete strategic process.
More than 38% of marketers believe that adding affiliate marketing strategy to their online business is one of the fastest growing customer acquisition methodologies on the market.
Are you wondering how affiliate marketing can turn beneficial in eCommerce business? Here read on.
Time to Grow Your Active Sales Team with Affiliate Marketers
You are planning to grow your online e-commerce store and hence, your entrepreneurial engines are at work. As a budding e-commerce entrepreneur, you want an active sales team which can outperform others. You aren’t denying that your current sales team isn’t good enough, but how about adding some affiliate marketers to your niche.
Affiliate marketers are experts in driving quality traffic to your website.
When quality traffic is coming to your website, it means that your website traffic will see more conversions. If you get more conversions, it will increase your overall revenue. More revenue means more profit and increased profit means a greater opportunity to grow your e-commerce business.
Although not directly, an affiliate marketing specialist is skilled in running indirect sales campaign using traditional Ad strategies, getting these ads approved and tracking their ad progress for retargeting.
Isn’t that what you expect from a sales representative to do when he is about to up-sell?
Improve Customer Loyalty with Affiliate Marketing
According to Business.com, 67% of customers who have come a number of times on your e-commerce platform are more likely to spend more than those who are visiting your online store for the first time. With affiliate marketing, you can benefit greatly by earning the trust and expertise of your chosen affiliates.
Every time a social influencer or an affiliate marketer or some other celebrity markets your brand or a certain product present on your e-commerce platform, they are diverting the audiences following them to your e-commerce store. It means you will have more Facebook followers, Instagram followers, Twitter followers and the opportunity for social media just keeps on increasing.
If your product is of good quality or your service is par excellent, it will help that audience to develop customer loyalty for your brand. They won’t only recommend others but will also put their faith in you.
You Can Develop Brand Ambassadors with Affiliate Marketing
It is proved that almost 82% of the consumers would likely prefer to follow the advice of an influencer then go with their own perception. When social influencers talk about your product on their brand pages, post images or publish videos on their blogging platform, then their audience think that your brand is awesome
Also, a survey conducted on more than 4,000 social media users residing in the states of U.S. and Europe disclosed why consumers trust social influencers more.
- Each social influencer has more than 10,000 followers
- They love products and services and that creates a voice for the brand.
- They are considered experts in choosing niches.
When fans and followers from different influencers are supporting your brand, they ultimately become your brand ambassadors and encourage other users to try new products and post about them. Becoming the brand ambassador for an e-commerce platform has its own perks such as free discount coupons.
Affiliate Marketing Can Get You Tailored Target Audience
When you are dealing with paid Ads, then here’s the thing: you have a specific way of targeting which type of audience can see your content. Today, paid Ad science has incredibly enhanced; you can now target audience based on their geographical location, their respective income, hobbies, age, and gender. You can even go as deep as which brand of shoes they wear or what kind of coffee do they prefer!
However, you are always wondering whether your paid ads are being shown to the right audience or not?
When you are dealing with Affiliate marketing, you choose which type of audience you wish to advertise. As an affiliate marketing specialist, you can choose the type of website you want and what kind of partners do you wish to interact with. You will have the full liberty to promote your brand just the way you want. Also, you can have full control where your e-commerce store is being promoted.
Affiliate marketing is a powerful tool and holds significant potential. It is one of the greatest tools the world of marketing has ever known. Have you given a thought to affiliate marketing yet? If not, then why not try Branex. Our affiliate marketing service can help you increase your brand reach and profit margin.