Affiliate marketing is a term which floats around the business and marketing world a lot, and it is something which many companies take on board and use in their day to day marketing strategy.
Affiliate marketing is the concept of a company reaching out to a blogger or influencers and teaming up with them to market a product or service. The blogger or influencer will usually look to write a sponsored post, test a product and share it on social media and share a company’s social posts to their audience. This is a type of marketing which is mutually beneficial to both parties as it puts a product in front of the influencers audience but also puts the influencers in front of the brand.
But why do you need to bother with affiliate marketing?
First of all, it extends the reach of your brand name and product without you needing to do anything yourself. The other party will do all of the work for a small fee and market the product or service for you. Your brand becomes exposed to a much wider audience and it means you can find a new market to sell your product to in the wider world.
If an affiliate program is run particularly well, you could see a huge return in profits for your company as your sales increase with the new exposure you have on the internet. The key to a successful affiliate program is of course to contact the right influencers for your audience and pick one with an engaged audience themselves. Look at the way they interact with readers and how many followers they have over every account. If you are a small company it can actually be more beneficial for you to go with a small blogger because they will put in that extra work to try and gain their own audience as well as feed yours.
Joining an affiliate network. Can be a great way to find influencers and advertising opportunities for your brand. If you can manage the outlay then you will want to contact several influencers at one time to make your brand stand out and make people sit up and pay attention to who you are and what you have to offer the world. If not, you can instead offer your product in return for a review or a share on social media. This type of affiliate marketing can be just as lucrative if you choose the right people to work with.
The great thing about affiliates is that it can greatly reduce the money you have to spend on marketing, because a lot of the marketing will be done by others on your behalf. You will be able to sit back and track the new found traffic flooding to your website and see people buying your product without having to pay for as many google or social media promotions. It can save you the time and money as well as giving you the opportunity to grow and improve as a business.