Affiliate Marketing

Why You Should Consider Them And How To Get Started

Why You Should Consider Them And How To Get Started
Written by publishing team

When you hear “affiliate marketing,” you might think of your favorite Instagram influencer sharing a discount for their favorite water bottle company in a post. If you buy it, they get a small commission on what they sell with this unique discount code. No matter how many times it’s seen on social media, it’s not discussed openly in business as often as other marketing tactics are, but it should be. According to Statista, affiliate marketing was $5.4 billion in 2017 and is estimated to reach $8.2 billion by 2022. There is huge potential for affiliate partnerships to increase your business exposure and sales.

Affiliate partnerships create an opportunity for you to connect with audiences who are most likely to want your product, and to advertise through someone who has a vested interest in whether or not their audience buys. In influencer marketing, a company pays for a sponsored post, or service of an influencer that promotes the product on their page. But with affiliate marketing, the influencer knows that more monetary compensation is available if they can get their audience to buy with their code. This inevitably increases the quality of the content, whether it’s through influencer posts, brand partnerships, or backlinks within blogs.

Here are some of the ways you can start building affiliate partnerships.

1. Add affiliate opportunities for influencer relationships

If you have already invested in influencer marketing in the past or know the ideal influencers to match with your brand, create an affiliate partnership opportunity to pitch to them. Ideally, this would be an “addition” to the fixed price you would pay them to post information about your product. In some cases with more micro influencers, you can ask them to promote your product in exchange for free gifts. Sometimes the combination of a free product and the opportunity to earn a small commission via their custom discount code is enough to sway the smaller influencers in the partnership, at little cost to you.

To take this a step further, Mandy Jones of AffiliateWP recommends creating co-branded landing pages. This will display both the influencer and your product on the back pages of your website, creating a greater sense of ownership for the influencer. “Customize the web address to make it easier for influencers to efficiently transfer information to their podcast or vlog,” she says. “This can be done with any affiliate company, but as public figures, influencers will appreciate and benefit from this type of personalization very well, not to mention that their followers will look for it!”

2. Partner with big-name brands

Affiliate partnerships go beyond individuals and influencers, and can extend to big-name brands or similar companies. Many companies have affiliate marketing through backlinks: one example is Home Depot, which has an affiliate partnership with the product recommendation site Consumer Search. According to E-Commerce Nation, this is a win-win: “Whereas Consumer Search earns a commission on every sale, Home Depot increases visitor traffic and generates strong backlinks.”

There are always opportunities for your company to create affiliate partnerships with big name brands as well. Just ask Daniel Daychopan, founder and CEO of Plutus. They recently launched affiliate partnerships with Amazon, AirBNB, Nike and others through the “Plutus Perks” program. In this partnership, Plutus users earn 5% back on cryptocurrency for any purchase made on Amazon. As for how they scored this, Daikuban says it’s all in the interest of the people.

“Partnerships are much easier if you can provide equal benefits in return. We have successfully secured affiliate deals with high-profile brands as we offer a unique payments service with high potential in a trending industry,” he said: “By collaborating with us, brands can To remain at the forefront of cutting-edge innovation and also open its doors to untapped alternative revenue streams.” Plutus members are then incentivized to buy from Amazon over competitors because of the cashback opportunity. Learn what your company can uniquely offer these brands (regardless of their size) and use that insight in your discussions with them.

3. Take advantage of backlink opportunities

When dealing with influencers, look beyond what they can do on Instagram, and other places where their audience consumes their content. One example is through blogs or articles with potential backlinks. This is an easy way to partner with influencers who don’t usually promote products or advertise on their platform, because there is no promotion involved outside of links. Some influencers or content creators actually only make affiliate backlinks.

They look for these opportunities on affiliate aggregators like VigLink. Leyl Master Black writes that VigLink “automates access to over 30,000 affiliate programs and monetizes the links on your site for you. For example, if a blogger is writing about a new pair of shoes he found on Zappos, instead of having to sign up for the affiliate program for Zappos directly, they can work with VigLink, which will automatically append the affiliate code to the link and pay note their commissions they earned.” Using a site like this will make it easier for you to manage these partnerships if several bloggers or influencers sign up.

Between social media posts, backlinks, and other possibilities for partnerships with brands both large and small, affiliate marketing is essential for more targeted exposure. If you’re struggling with marketing or looking for new ways to increase brand awareness, consider which of these options work best for your company and what you’re selling.

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