Affiliate marketing can benefit both large and small firms, worldwide. People in the affiliate marketing world understand this fact, but newcomers to the industry can be a bit more skeptical.
Here are 6 of the most significant benefits affiliate marketing provides:
1. Since commissions are based on affiliate performance, affiliate marketing is also known as performance marketing. This achievement-based structure allows advertisers to control how and where their money is invested, as they are only paying for returns.
2. Affiliates can target your preferred audience based on location and demographics. This is great for small brands who are looking to get more sales, but are part of a niche market. It also benefits large brands because they are able to reach an even more expansive audience, even if it is just to increase brand awareness.
3. The more offers you have, the better! The size of your business is not based on how many products you offer, making this benefit one that all businesses can take part in. Even if you only have one key product, you can run several different offers on that product, each appealing to different audiences. This has the potential to work out better than using one ad and hoping that it gains the attention of your entire demographic.
4. Affiliate Marketing will allow you to reach a new audience. Sure, you have all the people on your mailing list who you send to on a regular basis, but if they are no longer interacting with your brand, you will need others who are willing to participate. Affiliate marketing may allow you to reach audience members that you never could before. You can target customers based on the terms they are searching, the websites they are visiting, and more. You are not able to do this with traditional marketing practices.
5. Affiliate marketing is effective across industries. Some of the most profitable industries include digital products, mobile apps, subscriptions, e-tail stores with multiple products and lead generation for services.
6. Your reputation could benefit from the reputation of your affiliates. For example, if your product is featured on a women’s health blog that is read by thousands of health-conscious women (which is the demographic you happen to be targeting), they will show exponentially more interest in your product than if it pops up to the right of their Google search. This is because they trust the blog and the recommendations they see on it. Another example could be an ad for curtains that appears each time a customer searches for homeowner’s insurance. If they are searching for this type of insurance, they are likely to have recently bought a house and since houses have windows, curtains are a must. It is important to consider all markets that your target customer shows interest in.
As you can see there are many aspects of affiliate marketing that allow for the betterment of all businesses regardless of size. Some may be more of a perk for large firms and some may be more of an asset for small firms, but the bottom line is that just about every business can profit from affiliate marketing!
If you are interested in promoting your business through an affiliate marketing program, reach out to Madrivo!