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What is Affiliate Marketing?
We are more likely to trust a business, a product, or a service when we hear about its positive reviews from someone who is known to us or is an influencing figure. Affiliate marketing is just the same; a marketing model wherein brands tie up with affiliates who own a loyal audience base in their targeted niche and pay them a commission for convincing their customers to buy their product.
When a consumer ends up taking the desired action, the affiliate cycle is deemed complete and the publisher or the affiliate is released their commission. This is one of the most potent and strategic marketing tools wherein as a brand, you can boost the immediate demand of your product among the customer base whom you wouldn’t have otherwise.
Why Your Business Needs Affiliate Marketing to Grow?
In the digitally blooming era, where most companies are increasingly exploring new and untapped avenues to market their products and drive leads-sales, affiliate marketing is a blessing in disguise. Business Insider quotes that affiliate programs bring about 30% of all sales for the advertisers.
There are more than many reasons why affiliate marketing is a lucrative marketing strategy for brands to grow. Here they are:
1. Affiliate Marketing Fetches You Niche Traffic for Your Business
Traffic coming in from all sources isn’t tailored to meet your product market. For instance, if your business is into cat foods, those looking for a luxury car aren't the kind of audience that will buy your product.
Here is where affiliate marketing steps in and lets you connect with affiliates who know your brand and product well. Picking up affiliates who are already active and established in your niche will guarantee you targeted sales.
2. Affiliate Marketing is About Pay Per Sale
The affiliate marketing model works based on commission release to the affiliate only after the intended and committed action is taken by the targeted consumer. Compared to traditional PPC campaigns where you are charged for all leads, affiliate marketing lets you only pay for the qualified and verified sale. This keeps the marketing budget in check.
3. Affiliate Marketing Solidifies Your Brand Image
As we mentioned in the beginning, consumers like to buy from the retailers they know or have a certain reputation rather than going for a cheaper deal from a brand they haven’t ever heard of. Affiliate marketing is all about getting your brand and products to reach niche audience territories.
When consumers hear or know about your brand from a verified source, they bear a solid reputation of your brand in their minds. This goes a long way in building a loyal customer base and spreading brand awareness among uncharted categories.
4. Affiliate Marketing Requires Reduced Initial Costs
Starting up an affiliate program is quite low on costs when you join hands with a prestigious affiliate network like vCommission. The stress, costs, and efforts involved in an affiliate program are far lesser than having an in-house marketing team.
A network affiliate group connects you with affiliates and partners, takes care of all the backend processes, and guides you with the available resources to derive maximum sales.
5. Affiliate Marketing Provides Clear Cost Control (Right from the Start)
Unlike PPC and other forms of advertising where you don’t know the cost per sale owing to multiple variable factors, affiliate marketing allows you to have complete control over this. A commission on each sale is predetermined and committed to the publisher, leaving you knowing exactly how much each sale is going to cost your business. You can adjust the affiliate commission or product price based on such insight.
6. Affiliate Marketing Has a Huge Base of Affiliates to Choose From
Affiliate marketing programs are gaining a lot of traction, which is why you’d find multiple affiliates in your targeted business niche. You are given the choice of working with more impactful and motivated affiliates who literally own their audience like a pro.
7. Affiliate Marketing Helps You Tap Uncharted Territories
Such is the beauty of this impressive marketing strategy that it helps businesses reach audiences globally, which otherwise would have been a budget constraint for the business. If you’ve a business which is starting up or you’re looking to increase your sales in a certain geographical location, all you need to do is connect with an affiliate who has an audience base from there and you’re sorted. Tapping into a global marketplace has never been this cost-effective and easy!
Cracking the right marketing code may be tough but it’s extremely crucial for your business success. Whether you’re a start-up on a shoe-string budget or a well-established brand looking to reach unexposed markets, affiliate marketing does the job for you!
At vCommission, we help you connect with high-quality affiliates that know you and your business well. Connect today and unleash the untapped potential of affiliate marketing to help your business flourish!