The business of affiliate marketing is increasing annually, with more individuals, entrepreneurs and brands taking advantage of it’s many benefits daily. In America, more than $5.4 billion US dollars was generated through the use of affiliate meeting in 2017. And we are likely to continue to see these numbers increase and soon approach up to $8.2 billion US by 2022 just in America.
Affiliate marketing can improve existing traffic, sales and revenue any business by allowing partners and affiliates to drive more sales and traffic back to a site or service. Every brand uses different tactics to win the race in affiliate marketing, and those differences are also what makes some programs and brands do better than others.
However, it’s also important to note that affiliate marketing is also leveling the playing field for smaller brands and mom-and-pop businesses to take advantage and compete on the internet as well.
With all of that being said, there are many different things an affiliate program can do to improve the chances of finding success in this very competitive space. To learn more about these working methods that every big brand should try, be sure to read through each of them below.
Catering to the Needs of Each Season
If you want to find success in business and on the internet, you need to be evolving at all times. This means that you have to innovate your products from time to time with the change in season. This can be anything from product selection, ad copy, marketing methods or even some of your latest sales and affiliate promotions.
Like most big brands, you probably have a targeted demographic audience and customer base and know what they like best. So it’s a good idea to create custom ad copies and promotions during each of the hot seasons and holidays throughout the years.
For example, using Christmas as your theme and focus point during the 4th quarter would likely drive some nice results and engagement. You can publish some extra coupons related to that particular season/holiday, while also making them available to affiliates as well.
As events like Christmas come just once a year, many merchants are lumping their promotions together with other events like “Black Friday” and New Years. This allows them to put in more time and effort to focus on a long string of promotions, while not having to come up with completely new ad campaigns and promotions.
Expensive Items Have Higher Profits
More often than not, higher priced items are going to lead to much higher profit margins and affiliate payouts. Many prominent marketers use this rule to increase their sales as much as they can, while also minimizing their focus on smaller or lower priced items.
Almost every ecommerce or marketing company, even Amazon, uses this strategy. They will often see which products are not being sold, and then attach some type of promotion or sale to keep them moving off the shelves.
That is how their sales never stop, and they continue to generate hundreds of millions of dollars in sales daily. When a customer buys a cheaper item from their site, there is a good chance they will look around and grab other items as well — thus, leading to a much larger purchase order.
And this isn’t happening in just retail either, we are also seeing this in the FinTech industry and Cryptocurrency markets as well. With so much money in these markets, it’s ripe for affiliate marketing opportunities, while also having some very large payouts in the process.
Describe Your Products Efficiently
When you are running a campaign with affiliate marketing, it’s always going to be important to promote that your products and services are the best out there. After all, would anyone want to buy something if there was better versions already out there? Of course not.
Suppose you are going to sell an expensive product with the help of affiliate marketing. It would then be ideal for you to create a flow sheet or chart where the features and specifications and properties of your product are highlighted and easily seen by the end user.
This is one of the best ways to make money as a blogger, as your content is going to be doing all of the selling for you. The easier you make it for your audience to find your content and learn about whatever it is you are promoting, the more likely they are to take action and not move onto another site.
It’s also a good idea to compare them with other products, and showcase why yours is best. This is a psychological way to grab customers attention, and making them even more interested in purchasing now.
Take Advantage of Social Media
Today, social media is the most effortless way to get viral and with billions of users already on the top social networking platforms, it could even make you or your brand famous in the process!
If you aren’t actively using any of the listed platforms below, you are already missing out big time.
- TikTok and many more.
Through the use of social media scheduling software, adding SMM into the day to day operations for your business is much easier. Don’t just focus on SEO, as more people are doing their shopping and research through social media over Google daily.
Affiliate Marketing Tips Summary
No matter if you are running a small or large business, you are going to want to start taking advantage of what affiliate marketing has to offer. And best of all, this can be done by promoting other affiliate programs, or even launching one of your own.
To learn more about this process, be sure to review our expert interview with Dustin Howes, who manages some of the top affiliate programs for big name brands on the internet today.