For e-commerce businesses, achieving sales is critical.
Therefore, to find more customers and increase sales, we use content marketing, paid advertising, and other means to persuade people to buy from us.
But there is another important way to generate more sales that e-business owners should not neglect: affiliate marketing.
For marketing tactics like content marketing, paid advertising, etc., you can create and manage the process yourself.
But with affiliate marketing, the main task of promoting your products and services is done by a third party.
When done well, this type of promotion can generate significant sales with minimal effort. Let’s explore more about affiliate marketing and how small e-commerce businesses can benefit from it.
What is affiliate marketing?
Affiliate marketing is where a company rewards its affiliates for the leads and sales they bring in.
Think of Amazon as an example. You can sign up for their Amazon Associates program and create links that connect the sale of a product to your account.
When someone buys something using your link, you get a percentage of the sale.
As a small business owner, you can create your own affiliate program just like Amazon and other companies. Individuals who want to make money can sign up for your referral program and earn money when they make a sale.
This method offers e-business owners a powerful way to grow their online store with a smaller investment.
Why does an e-commerce business need affiliate marketing?
There are bloggers and influencers who have a strong following with audiences that fit your target market.
It is not possible to create a large and real following for many brands because social media users prefer interacting with a real person rather than a company.
Starting an affiliate program helps you tap into audiences created by bloggers, marketers, and influencers. This happens indirectly: when these marketers promote your products or link to your content, you will see an increase in sales.
Affiliates who promote you also get a commission that is rewarded for their efforts.
With affiliate marketing, you can tap into new audiences. Your affiliates act as your sales team. But they get rewarded based on performance alone. And it is more profitable than influencer marketing because you are paying for real results and not just content creation.
Types of Affiliate Marketing
To promote your business, you can use different types of affiliate marketing. Here are some of the most popular and interesting types of affiliate companies. Each one is unique and offers different types of benefits.
Videos and podcasters
Video and podcast content is widely consumed and popular. There are many content creators who get support for their work by taking over sponsors.
Consider working with these types of content creators to highlight your brand and improve conversions.
Bloggers, newsletters, and niches often create large email lists with audiences that belong to niche groups.
You can work with email affiliates to send your content directly to their audience’s inboxes.
These types of affiliates don’t always bring added value right away. If you want to promote your business and not immediately make a profit, this is a good option.
In this type of marketing, affiliate marketers promote your product and promise buyers a small amount of money back to the buyer. This motivates more people to buy because they feel they are saving money.
There is no place more effective than today’s consumer bag review site. Nowadays, people don’t eat outside until they look at restaurant reviews. The same goes for buying products, online courses, and everything else.
Consider working with review sites to partner with. It’s a great way to build trust and get your business in front of more people.
Social media influencers
Influencers achieve most of their followers on social media by promoting products and services in exchange for paid commissions.
Be wary of setting metrics the influencer can meet. Many companies make the mistake of sending free stuff to influencers, without realizing that while their content gets a lot of visibility, it doesn’t really lead to conversions.
But if you are looking for good influencers and develop a performance-based program, you are going to make big sales in a very short time.
Steps to setup your affiliate program
Here are the main things you need to start your own referral program.
employmentThis is one of the most difficult steps to take. You should not accept just anyone as an affiliate marketer. You have to promote your software on your website and social media and also create requirements that people have to meet.
on aboard of the planeAfter you find affiliate marketers, you need to involve them in your program. This includes providing them with information, helping them create accounts, teaching them about your products, and more.
Join ToolsTo make your affiliate marketing seamless, the best thing you can do is use a WordPress affiliate plugin. This tool will help you create links for your affiliates, track sales, generate reports, and perform other important tasks.
Lots of communicationAffiliate marketing does not work in a vacuum. After getting past the setup stage, you need to reach out to your affiliates. Tell them about upcoming sales, help them with product information, and support them in their work.
Reporting / TrackingOne of the problems that arise when dealing with affiliate marketing is that your affiliates can implement marketing practices that are not in line with your brand values.
You need to continuously track the performance of your affiliates, as they are marketing, and validate their sales reports.
While these steps seem time consuming, they are easy to implement with the right tools. And of course, you need to think about your goals beforehand to help you build a solid affiliate program.
If you want to work smart, find ways to get someone else to do some task. And when it comes to an e-commerce business, a great way to boost your own marketing through the efforts of others is to use affiliate marketing.
When you make good use of affiliate programs, you can focus on improving your products, services, and your business in general.
So, give affiliate marketing a try in a simple way. You can always scale it to grow your business faster.