One of the biggest challenges entrepreneurs face is adequately marketing a new business venture. This process generally involves the development, testing and tweaking of marketing campaigns and website content. The average business spends up to 8 percent of their total gross revenue on marketing and advertising costs each year.
If you are trying to substantially scale your marketing efforts, then an affiliate program is a fantastic idea. For years, business owners have used affiliate programs to spread awareness about their brand. An affiliate marketing program allows a business to work with individuals and entrepreneurs to drive traffic to their website.
Most companies offer commissions to affiliate marketers who provide leads that convert into an actual sale. Using a large number of affiliates is a great way to both increase website traffic and the number of quality sales leads you receive.
Are you curious about how an affiliate marketing program can benefit your business? If so, check out the information below.
Learn how an affiliate marketing program can benefit your business
Affiliate Marketing Programs are Easy to Track
The only way to fully optimize your marketing efforts is by tracking the results they are garnering. While this tracking can be difficult with print ads or online advertising, tracking affiliate marketing campaigns is pretty easy. The various marketers that work on your behalf will be provided with a customized link.
When this link is clicked and a sale is made, you can easily track which affiliate is responsible. The longer you engage in an affiliate marketing campaign, the easier you will find it to see how well they work. If you are unsure about how to set up and track these marketing campaigns, hiring a knowledgeable professional is a good idea.
A Great Way to Provide Consumers With Social Proof
Before using a particular company, most modern consumers want to see proof of their legitimacy. Social proof is one of the best ways to show a potential customer how well your company has performed for others in the past. Affiliate marketing participants will generally use things like reviews and testimonials to convince others to click their link and invest in your product or service.
The more affiliates you have using this tactic, the more social proof you will be able to provide to consumers. When you consider that over 94 percent of consumers read online reviews before using a company, you can quickly see how valuable social proof can be.
The Payment Structure is Performance-Based
Are you tired of spending tons of money on marketing methods that never seem to pan out? If so, an affiliate marketing program is something you should consider. These programs are completely performance-based.
This means unless an affiliate produces a lead that generates a sale, they won’t get paid. Many companies with inflated marketing budgets have found that affiliate marketing saves them money while increasing the number of quality sales leads. Before setting up your affiliate marketing program, do a bit of research to find out more about the commission rates being offered by your competitors. With this information, you can make your affiliate program more enticing to potential marketers.
Before setting up your affiliate marketing program, do a bit of research
Grow Your Bottom Line With an Affiliate Marketing Campaign
Perhaps the best reason to start an affiliate marketing program is the potential sales growth they can provide. Studies show that in the past two years, companies engaged in affiliate marketing campaigns have grown their sales revenue by over 230 percent.
Allow Professionals to Help During the Affiliate Program Setup Process
If you are new to the world of affiliate marketing, then getting some professional help with the construction and implementation of this program is a good idea. With this professional help, you should have no problem getting an effective affiliate program in place quickly.