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There is a common belief that founders need huge amounts of money to get marketing results, but this is often not the case. Affiliate marketing – where others earn commissions to promote a company or lead a sale – is an affordable investment with a low entry barrier, and one that is open to brands of all kinds. The only requirement is patience. It won’t make you rich overnight: Instead, you must be ready to grow a product step by step, willing to look for opportunities that the market presents and incrementally generate returns if you want to join the field.
How to benefit from affiliate marketing
The basics of an effective marketing partner program include finding those who have the right traffic, developing an attractive offer for them and then providing them with the necessary tools – all of which require thorough research. Fortunately, there is plenty of content on the web that explains each step in detail.
There are also direct and accessible tools that can help, such as Google Analytics, which enables you to create a system for tracking clicks and measuring partner sales. Another option is to join a trustworthy affiliate marketing network (such as CJ, AWIN, or Fiverr) that is relevant to your business goals. For example, if you plan to get into the publishing field, you can choose affiliate marketing platforms such as the Amazon Associates Affiliate Program or the Rakuten Advertising Affiliate Network. Or, if your business is looking to enter the travel industry, Travelpayouts is a solid choice.
Such affiliate networks are often very powerful, the best of them are time-tested and popular among marketers, mainly because they provide a large traffic volume and are easily accessible. Many of them do not charge to board the plane, they welcome newcomers and help them understand the field better. Others like CJ (Commission Junction LLC) have stricter policies, in their case they charge a $5,000 connection fee and take a deposit from the start.
Related: 3 tips to get started with affiliate marketing
To track correct sales, you will also need to set up a website or mobile app. This usually takes several weeks. In good tracking systems, the integration algorithms are very advanced, which makes it easy for small businesses to integrate. This tracking and integration usually requires little or modest investment from you.
How to help partners generate traffic and sales
But it’s not just about integrating your platform. For affiliate marketing to really succeed, you need to develop tools for partners to help them generate traffic and sales – a huge challenge all round. You can try to do it yourself, or you can take advantage of what the network offers: for example, a whole “toolbox” for configuring links and creating user interface elements.
We’re not a fan of trifles, but it’s important to realize that affiliate marketing isn’t just about increasing income. If you want to get the most out of it, you need to think outside the cash box. For this marketing brand, the key to success is teamwork and constant attention; It is simply impossible to create a program and leave it to its own devices, hoping that one day it will turn into a profitable cow.
Instead, you need to develop it step by step, communicating with and interacting with your partners frequently. Think of it as a big family that you take on vacation. Booking tickets and hotels is not enough: you also need to make sure everyone has their things with them, feels comfortable, gets on the right plane, etc. So, to make sure your partners support you and want to collaborate productively, be prepared to share your experiences and stats (seasonal sales, for example) and to launch various promotions, which are the ultimate gear for traffic generation. This way, you will create bonds, hit targets faster and enjoy the adventure.
Related: This is why teens are the experts in affiliate marketing