Online marketing is all about streamlining your efforts to get the biggest possible payoff. That means it’s a good policy to always be on the lookout for low-impact ways to increase your conversion rates. If a strategy lets you reach customers without putting in a lot of legwork, it’s definitely worth pursuing. One of the best ways to expand the scope of your digital marketing without investing a lot of time and money is affiliate marketing. Here is how to get started and make the most of your marketing efforts.
What is affiliate marketing?
Affiliate marketing is when website owners partner with other online businesses to help each other reach a wider number of users. Creating a professional relationship with other online companies that is mutually beneficial can lead to higher conversion numbers, and that’s a win-win for both businesses involved. Affiliates are paid for each lead they generate for the merchant whose product or service they are promoting, usually displaying ads for your business on their own websites that will redirect users to your site when clicked.
How does it work?
Most affiliate marketing programs run on a pay-per-performance model. That means it only costs you money when visitors click through to your site or make a purchase, depending on how you set up your arrangement. For instance, many affiliate marketing programs work on a pay-per-click basis, meaning the affiliate gets paid whenever a visitor clicks your ad on their site.
There are several payment models for affiliate marketing. In the cost per sale model, the affiliate is paid a certain percentage as commission each time a sale is made through the affiliate’s marketing efforts. If the program is set up according to a cost per lead model, then the affiliate gets commission every time their site leads to a visitor filling out a registration form on the merchant site. A cost per click setup means the affiliate receives a small payment every time a user clicks through a banner ad on their site and visits the merchant’s website.
How do I get started?
You can sign up for an online affiliate marketing program that meets your needs, usually for free, and start placing ads on affiliate websites. Alternatively, you can personally reach out to others in your field or related industries, such as bloggers who write about related topics, who might be interested in sharing online visitors and receiving support and promotion from your business. If you choose to go the DIY route, you’ll have to set up your own terms and payment structure with your affiliates and determine an arrangement that is beneficial to both of you.
Launching an affiliate marketing strategy can be your ticket to reaching a whole new set of potential customers, so keep this exciting opportunity in mind as you put together your digital marketing plan. For expert advice on all aspects of your online marketing efforts, contact AMMA Digital Marketing for a free consultation. Just call 800-466-0684 or send us an email to get started.