The web is getting bigger day by day so why not your business.
To gain higher market share in electronic commerce, you need to expose your brand to the widest audience possible.
In this case, Affiliate Marketing is the best Digital Marketing route one can opt for where a company sells its products by teaming up with other companies called affiliates who advertise the company's product in exchange for a commission whenever a sale is drive to your website.
It is also known as performance-based marketing where the revenue is shared between the affiliate advertiser and the affiliate marketing company. In affiliate marketing process, your potential customers can reach to your products via multiple digital platforms.
For instance, jabong.com, which is a fashion and lifestyle portal, specifically deals in apparel, beauty products and other lifestyle products. It has thousands of affiliated linked specific websites from where visitors can reach to your band. The whole transaction process including online payment will take place at jabong.com only but a fraction of total profit will be passed over to the affiliate website from where the sale actually originated.
Affiliate marketing programs helps companies integrate their marketing efforts by partnering up with other companies to cross-promote their business and find new customers across the world.
To increase your chances of success through affiliate marketing program, here are some key features which needs to be implanted in your campaign.
- Choose affiliate websites that complement your business content. For instance - if your business deals in apparels, then teaming up with an affiliate who deals in stationery products is a sheer waste.
- A poorly designed and placed advertisement can make viewers abandon the advertisement so think twice while crafting your advertisement to be placed in affiliate websites.
- Take your enough time to check out the affiliate advertiser before partnering with them.
One of difficult task to accomplish is finding an affiliate program, which will actually produce results for you.
Knowing what ads to place and which companies to choose as your affiliates isn't a cakewalk but demands for a structured process.
- Set defined goals for your affiliate marketing program, which includes the selection of product criterion, fixing on your business goals and objectives.
- Once you have chosen on your specialized field, you can now work on finding the programs relevant to your business.
- Conduct a competitor analysis, as it will help you in your strategic planning process. Rather selecting all the products for affiliate marketing, choose the core products of your business. The unique your company's offerings are, the greater revenue it will generate against your competitors.
- Next step is to create a campaign with fine technical details in place, which will be promoted by your affiliates. Create customized discount offers to convert your visitors into direct conversions.
- Testing and tracking is the crucial part of every process. Without cultivating your campaign till end, it won't generate the expected results so you must need a regular check on your campaign and make adjustments when necessary.
Affiliate marketing helps a company in ample ways.
- One of the greatest benefits of affiliate marketing is you only need to pay when your affiliate drive lead generation to your website. Since you have all the power in your hands while creating the list of terms and conditions, so there are very low chances of fraud and trademark infringement. In long and short of it, it works on low risk and doesn't cost much.
- Your affiliates will be driving traffic from countless different resources thus affiliate marketing helps your business widen its customer base leads to increased sales.
- Unless you have developed some good relationships with others in digital market, there are high chances of lagging behind against your competitors. Affiliate marketing offers a digital platform where different companies co-brand with each other and build mutual relationships.
The affiliate marketing program even benefits the advertiser in ample ways as even advertiser can extend their audience reach with low risk and cost.
The better you are at partnering and building relationships, the more revenue your campaign will generate.