Affiliate Marketing -Two ways to monetise your business
Looking for ways to make your business more successful online? We recommend that you look at other successful businesses online. Duplicate what is working for them or doing it even better. The huge corporate businesses that have survived the demise of the high street have one thing in common. All have robust affiliate marketing programs. Additionally there are however a few other characteristics of their approach to affiliate marketing that the newcomer to this may not have noticed.They form partnerships.
Affiliate Marketing – Partnerships
Partnerships are immediately noticeable on websites such as Amazon. Companies may have their own ecommerce store in a particular industry. Most industries however have peripheral related businesses that complement them. For example: A motor vehicle repair business may also sell car parts or rely on a car parts business that they work closely with. They don’t sell car parts themselves, but refer their customers to buy items from their marketing partner.
The motor repairer may refer clients to buy windshield wipers, tyres, headlight bulbs and more and receive a commission for doing so. In turn the car parts business may refer some of their customers who need help with bigger jobs. In return they too receive a commission.
Many businesses that cannot hold stock of everything they retail online, will often connect as partners with bigger businesses such as Amazon to enable their customers to find everything they need all in one place. Those that integrate their business with gateways such as Amazon Pay enhance this partnership further.
Creating an Affiliate Programme
Creating an affiliate programme has a number of benefits. The most obvious is the SEO. Your affiliates will create quality backlinks to your site in order to earn their commissions. While your profit margin may be smaller, the volume of turnover will increase with the right publishers. The effect is twofold. Consequently there will be higher visibility on the search engines. Additionally profitability increases.
When you are already enjoying increased traffic from your affiliate programme, this traffic doubles as a source for your affiliate marketing too and so if they bounce from your product they are more likely to make a purchase from one of your partners. In many cases they may purchase from both you and your affiliate partner.
Speak to us about setting up a referral programme. Many businesses that started from their kitchen table or garage, are successful because of these programmes.Just look at Amazon, Microsoft and Apple. Humble beginnings to Industry giants.