In the growing digital age, the need to gain quality leads has become indispensable to staying in the business race. Businesses opt several measures to drive potential customers to their websites that can actually turn them into customers.
Affiliate marketing has turned out to be a touchstone for companies who urge to grow their digital empire by using right tools and incorporating various elements to get better ROI at the end of the day. Over the years, it has become one of the cornerstones of digital agencies who plan ahead before running their juggernaut and know where to look to increase conversions on their website.
Getting visits and increasing impressions on the products on different social media channels are good signs, but it’s all about conversion at the end of the day. Till you are doing business with the visitors, you are regarded as successful and sense of accomplishment will motive to achieve more.
What is Affiliate Marketing?
Unlike all other marketing fields, Affiliate is a wee-bit different as you only pay for the conversions done on your website, not for driving traffic to it, even if it’s the niche audience. For instance; if your website is getting 100K visitors per month, but not able to generate even 1% of revenue from the traffic, then it’s useless. You don’t need traffic only. You need conversion, which is one of the pillars for a successful business. That’s why affiliate marketing is getting so much love from industry peers because it brings business to the table and that what matters to a businessman. Business. Conversion. Profit. Success.
Affiliate marketing is one of the most heated and talked topics among the industry peers and marketing maestros. Like all other marketing forms, affiliate marketing demands a lot of energy and hours to reap profitable results. Boosting niche traffic that will likely to convert is probably the most challenging tasks to any marketer, and affiliate marketing lessens the pain in doing it.
New Audience, New Domains
Being a marketer, it’s your duty to reach a wider audience and increase the business domain by opting several measures that can akin to the business’s marketing budget.
This form encourages to develop relations with third parties and place your businesses ads over there that can drive niche customer and contribute to the growth of the business and ROI. While affiliate managers or experts are really helpful to businesses successful affiliate campaign, one can do it all by itself and can trim the budget by saving the extra amount of money, if the goals aren’t too dreadful and the deadline is not to a skeptic.
However, the time factor kick-in if you are managing all the campaign by yourself without any real industry expertise or connections to get your profitable conversions within a short span of time after starting affiliate campaign.
Lucy Whittington, director of inspired business marketing has shared her 2 cents about the affiliate marketing and how one can use it for the maximum gain. “Hotels, for instance, could use a number of affiliates such as car hire firms, flight companies or travel insurers which share the same target market. Once successfully up and running, affiliate programs can generate between 10-30% of total sales,” says Lucy “If you only have a small number of affiliates, it’s possible, but you will need to invest in the right infrastructure to track sales and commissions. You’ll also have to think about managing each affiliate account, keeping on top of individual agreements, updating promotions and ads, recruiting new affiliates when necessary and making sure no-one is misrepresenting you online,”
As easy affiliate marketing may seem, it has certain myths going on in the market, which is too good to be true. Following are some of those.
Myth #1- It’s a Cup of Everyone’s Tea
Affiliate Marketing needs marketing knowledge and a lot of energy to maintain the campaign in order to blend every perfect success ingredient for the best results. A lot of businesses lose money when they don’t pick up affiliates base on facts and success rate. This way, they waste their resources such as time and other skills when the result doesn’t come as good as was imagined. From creating affiliate guidelines, build commission structures, monitor performance, and recruit new affiliate partners, it needs knowledge and right amount of research before loading the guns and jumping to win the competition.
Myth #2- It Doesn’t Consume Time
Since affiliate marketing focuses on paying only at conversions, many immature self-proclaimed marketers think, it doesn’t consume time. EVERY successful campaign demands time. Period. Moreover, it’s a common practice to see marketers running the campaign before collecting solid resources for desired success.
Myth #3- To find Space on Dozens of Sites
Kinex Media has guided the marketers in offering quality service to achieve the desired goals. One of the main thing a marketer should set is an appropriate goal. ‘Quality over Quantity’ always outrank anything in the marketing domain. Hence, the myth gets busted when a business doesn’t see any positive results even after running behind dozens of portal for affiliation.
A lot of websites have way less domain authority, which won’t add any value to your efforts. Hence, tracking all the websites where you are doing affiliation will help you to monitor the success rate and provide data to trim all the unnecessary fat (sites) that’s blocking your way to becoming perfect in your business practices.
Myth #4- It will harm my AdSense
No. You can use AdSense and affiliate altogether and no harm will be done to your marketing campaign or reputation of the website in the search engine. Moreover, you will not violate any AdSense TOS. In fact, a lot of successful websites are using affiliate marketing much more than AdSense.
Affiliate marketing isn’t relatively a new term or easy as a lot of people mistake for. It’s all about communication skills and fostering a great relationship with reputed portals who can actually help you seizing the golden opportunities to grow your business. Moreover, a thorough knowledge of management to manage finances and budget is a must thing; otherwise, the campaign can end up in a huge loss, affecting the overall marketing strategy of the company.