The benefits of affiliate marketing cannot be ignored when it comes to driving sales for your business. If you hit a plateau or you want to reach new customers, then affiliate marketing is a solution that you should consider in order to engage your audience and consolidate your brand.
Affiliate marketing consists of a company (advertiser and affiliate) who uses an affiliate network to promote their offers according to some commercial terms (affiliate program). An affiliate network hosts a large numbers of websites/blogs/promoting platforms (publishers), creating the right place for the affiliate to start partnerships with the publishers in order to increase sales funnel. The publishers are rewarded with a commission every time they generate a sale through the affiliate links and the affiliate reaches its goal of driving sales. There are several ad models that may be used, CPA (cost per action), CPL (cost per lead)and CPC (cost per click) being amongst the top 3 most popular pricing models. With affiliate marketing, both parties win following a cost effective strategy.
3 reasons why you should use affiliate marketing for boosting sales
Advertising more efficiently and at a lower cost
Working through an affiliate network with publishers is a strategy with low ongoing costs as the fee they charge from the advertisers is a small one. By using an affiliate network you will have access to a large number of websites that you can use to promote your products/services or to propose exclusive codes or discounts, all this with a shorter research time. You can also choose the publishers that are relevant for your business. For example, if you have a website that sells beauty products, you can choose to work with influencers that create content relevant for the health and beauty sector.
Reaching new customers and raise brand awareness
One of the most important features of affiliate marketing is that you can rely on the publisher’s audience to reach new customers. Publishers deliver traffic to your website, that eventually will turn into sales. Choosing the right publishers can also help improve your Google search ranking and your brand awareness. Affiliate marketing makes you visible to a relevant public with active interest in your business that maybe you could never reach in other circumstance and that is more willing to buy from your website without having to convince them, like in traditional advertising.
Building customer confidence by working with trustworthy publishers
If you pay attention to the publishers you work with, you may boost your reputation. Usually the customers have the tendency to rather trust people that recommend the product than the seller. By establishing partnerships with people that have a public that trusts them it will be easier for you to gain an audience that will have the same trust in your products. Don’t forget that the publishers represent your brand, so you must choose them wisely if you want to mirror your values and image. If you succeed in doing this, you will be building customer confidence and in the same time gaining visibility in your niche.
Affiliate marketing is a great strategy of boosting sales, beneficial for both the advertiser and the publisher. It helps advertisers reach new audiences at a low cost and gives them the opportunity of raising brand awareness.
Synced.io simplifies the process of simultaneously working with multiple affiliate networks and offers to the publishers a series of advanced tools that they can use in order to choose the best affiliate programs for their business and also keep track of their performance.