In this age, businesses are increasingly using online strategies to gain visibility and sales. as opposed to previous decades in which offline marketing was prevalent.
Every major brand today sells its Products Digitally, for example, Mercedes now uses the Instagram App as a sales channel. This only proves that the power of Online Marketing is very robust.
There is however one level of selling that safely combines online and offline strategies to get sales. It is called Affiliate marketing and we will talk about how to use this methodology to help you boost sales.
What is Affiliate Marketing?
Affiliate marketing is something we are all familiar with. If you have ever been asked or asked someone to help you get a deal for a percentage tor the profit or a fixed amount, you have practiced the very art of affiliate marketing.
Affiliate marketing in simple terms is a way for someone (the affiliate) to earn some commission from the employer or business for recommending products and/or services to your friends, family, and readers.
The concept of Affiliate marketing expresses marketing on a personal level, using friends and family. This form of marketing is based on the concept of trust and word of mouth. You would rather buy a product recommended to you by a friend than one which you see advertised.
Tips on Starting and Maintaining an Affiliate marketing campaign
Choose Profit Sharing Method
You have to decide what percentage of your profit you are willing to let go of and invest in Affiliate marketing. You could keep running other modes of marketing so that you can compare after some testing has been done with affiliate marketing.
Choose Reward Mode
You will also have to determine the preferred method of affiliate marketing you want to adopt. You could select the recurring method of affiliate marketing that is the most widely accepted.
The second method of affiliate marketing is the most used method among Digital Media influencers use. It’ll just be a post on their Digital Media platforms and the use of a COUPON CODE to track how much sales come from such an influencer over a period, usually ranging from one week to one month.
Run a Sample
You should test whatever method of affiliate marketing you have chosen with sample affiliates of 5 to 10. Usually, influencers are used for the test period because of their large follower base as well as random people who have an average following and low following to have a larger sample test done. You should give the first set of affiliates a slightly higher commission that you will subsequently give to motivate them.
The feedback derived from testing should the compared viz-a-viz other methods of marketing employed by your business. This should inform your decision on continuing with the Affiliate Marketing Program. If you are continuing with the program, you should use data from the test to refine your Actual Affiliate Marketing Program and always develop the program to keep attracting new affiliates.
When Affiliate Marketing is perfectly executed, the returns are exponential growth in terms of Profit, Social Media Presence, and followership which will in turn increase your website visibility and Website Ranking.
If you are looking for an affiliate program to join, feel free to check out our affiliate program here.