Many resources are available online with information about how to cut down on advertising costs. These days, we often witness a trending marketing strategy participated by influencers and bloggers.
What is Affiliate Marketing?
Affiliate marketing is a way to increase brand awareness, social proof, and higher revenue from a wider audience network. It is a strategy that many seo company in sydney Australia uses as part of their digital marketing plan.
Affiliate marketing works when an ecommerce company partners with chosen affiliates which can be organisations and private groups to promote products or services in exchange for an agreed commission rate for every sale. Ecommerce companies assign personal links to their affiliates which they can post on their web pages, blog posts, or social media posts.
The affiliates will of course have landing pages that will direct the audience to a product page or service that they promote. The idea here is that the customer uses the link to purchase a product and the affiliates will get a percentage commission on that sale.
Is an Affiliate Marketing Program Good for Your Business?
According to referralrock.com, affiliate marketing works well for industries in eCommerce and other companies that are involved in offering beauty, apparel, technology, health, and subscription services. Although affiliate marketing can help with the promotion of products, there are still other negative experiences that some customers raise when dealing with certain affiliates.
To restrict the negative effects and maximise the benefits from affiliate marketing, here are some points to consider before launching an affiliate program.
Ponder about the questions and assess whether the answers are aligned with your business goals.
- Is the business okay to pay a commission to let others promote your business?
- Does the business have the manpower and other resources to go through a recruitment process to find an affiliate?
- Is the business ready to conceptualise and launch a training program for affiliates?
What are the Initial Steps When Setting Up an Affiliate Program?
- Advertise. Promote on your sites and other channels that the business is in search for an affiliate
- Set goals. Forecast how much revenue does the business expect to gain from the program
- Review. Assess the training program terms and conditions for affiliates
- FDevelopment. Develop a reporting tool to monitor the sales coming from the affiliates.
To make life easier, many businesses partner with the best seo Sydney companies to assist them out with this process.
How to Choose an Affiliate?
Conceptualise the criteria that the business will use to screen affiliate applications. The rubrics should focus on the reputation of the applicant.
Evaluate the quality of their content and how the followers engage with their posts. Is the content aligned with the way your business promotes your brand? How many followers should the applicant have to be considered in the program? What is the required strength of his or her online presence?
Will the Business Benefit From an Affiliate Network?
The best seo agency sydney companies can easily help you answer the question.
Affiliate networks like ShareASale, Awin, Amazon Associates, or CJ Affiliate, are there to help manage your affiliate program. Through the assistance from your SEO experts, the network can connect your company instantly to your desired affiliates. It is also helpful as they are in charge of recruitment, sales tracking, vetting, and facilitating the commission payouts.