To scale your business with affiliate marketing follow these 5 steps: find the right affiliate marketers, build relationships, reward high-performing affiliates, set up a sales funnel, and do data analysis. Each of these is described below in detail.
Affiliate Marketing is a very fast-growing industry. As of 2021, it is worth more than $14 billion. It’s increasing every day with no signs of stopping.
If you run an online business, it will help you get more customers. This guide is all about how to scale with affiliate marketing.
Before purchasing anything people have a habit of reading blogs and reviews related to that particular product. Businesses have a great opportunity to find affiliates and let them promote the products by promising a small commission on profit.
Why Affiliate Marketing?
Affiliate Marketing is win-win for everyone involved: a business with an offering, a promoter, and a customer.
The idea behind this model of marketing is to get customers with less effort and investment. The marketers will only get paid when they successfully drive a sale.
It not only helps you generate more sales but also helps to raise brand awareness.
Affiliate Marketing can help your business to scale it for higher conversion and generate more revenue. It is an ideal marketing model for any online business.
Setting up an Affiliate Marketing Program
You may need a programmer to set up an affiliate marketing program. You can also choose an affiliate network to enlist your program so that affiliate marketers find you.
One thing you need to have is a clear business goal before setting it up. All your marketing efforts should help you to reach your business goals. Affiliate marketing is no different.
Always track everything about the affiliates, visitors, and conversions. It will make you able to make the right decisions.
Recommended article: Affiliate Marketing Books you Must Read to Master affiliate marketing in no time.
Now let’s talk about how you can scale your business with affiliate marketing. There are a few things you can do to get the most out of it. Everything done correctly, it’s sure to take your business to the next level.
Table of Contents
1. Find the Right Affiliate Marketers
It’s important to find affiliate marketers that are genuinely interested in promoting your offerings to scale your business.
You will spend most of your time managing and tanning your affiliate team, that’s why you need to be careful about who you are working with. Otherwise, you may end up wasting your energy with unexpected results.
A few ways to find affiliate marketers are:
- Joining affiliate networks like ShareASale, CJ Affiliates, and so on. Affiliate networks connect a marketer to different affiliate programs. They list down all the programs they partner with and any qualified promoter can join them. This makes it easy for brands to find promoters and affiliates to find programs. They charge a small commission on every valid conversion.
- Contacting the influencers in your industry. You can use Social Media like Facebook and YouTube to decide who is influencing the consumers buying decisions the most in your industry. Later, you can contact them to promote your own products promising a decent commission.
- Searching different niche-specific directories. Many affiliate marketers list their websites in niche-specific directories. You can contact who best interest you.
- Searching freelancers on Fiverr and Upwork. Freelancing sites are also great to find affiliate marketers for your brand. However, you need to be careful about choosing them.
- Work with an agency to find affiliates for you. Working with an agency is an easy and time-efficient way to find affiliates to promote your products. Agencies will charge you for the work.
- Search top blogs on Google in your industry. Most of the niche blogs on the internet use affiliate marketing as a method of monetization. You can find these blogs with a simple Google search.
- Turn your best customers into affiliates. You should check if your customers are interested to be your affiliate. They know your product the best as they are already using it.
Using the methods listed above you will be able to find affiliates for your brand, however, more concern is required on choosing the affiliates that can benefit you.
You should check out who the affiliate marketer is. If he is an influencer on Social Media or a blogger. In other words, find out how they are going to promote your brand. For example, through an affiliate website or social media such as Facebook, Instagram & YouTube. Be aware of their following or audience size and estimate the number of possible visitors you may get on your website.
Also, try to find out if the affiliate marketer will practice sneaky ways of promoting affiliate links such as spamming. It negatively affects your brand image and impacts customer’s brand trust.
Recommended: Get a free affiliate marketing PDF guide to become a professional marketer
2. Build Relationship with Promoters
Your affiliates are as important as your customers. Always remember that people will trust affiliate marketers more than any brand they hear the first time.
Continuous building relations will affiliate marketers is a key to a successful affiliate marketing campaign. It should never be neglected.
Building relationship with affiliates has the following benefits to scale your business.
- Motivates the marketers to keep promoting your brand
- You’ll be able to generate higher sales
- Makes the affiliates loyal. They’ll not easily shift towards any of your competitor’s exciting affiliate programs
- Has a competitive advantage. Your competitor may not be doing it.
- Increase word of mouth
- Increase brand awareness. More affiliate marketers will be attracted to your affiliate program
- Quality traffic
Now, you should understand how important it is to build a relationship with affiliates. You might be wondering about how to do it. So, let’s have a look at a few ways.
- Keep in contact. Periodic emails or phone calls will keep them engage with your brand
- Guide them to build strategies for promoting your products
- Give them feedback. Let them know what works and what doesn’t.
- Let them know how they are performing
- Make them your customers by offering your products/services for free
- Reward high performing affiliates
Recommended Reading: Describe Your Past Experience in Affiliate Marketing | 10 Mistakes to Avoid
3. Reward High Performing Affiliate Marketers
The Strongness of a relationship with affiliates is directly proportional to the number of times you reward them, so is the conversion rate. In other words, on increasing one, another increases itself.
It is an indispensable factor to scale your online business with affiliate marketing. Think about the number of times you have rewarded your brand promoters. Giving commission on a sale is never a reward. A commission is what they earn and a reward is what they deserve.
If you have never thanked an affiliate marketer you have missed a great opportunity to scale your brand.
If an affiliate is continuously generating sales for you, always send an email appreciating his efforts. Moreover, you can reward him by increasing commission, offering a free product or service you have, inviting them to your company functions, etc.
You can also organize a seminar where you can invite all your top-performing affiliates and anyone who plays a role in the betterment of your company. Organizing a seminar might be a little bit costly but it’s worth it.
These types of seminars help bloggers a lot. They get an opportunity to get familiar with other bloggers and influencers. A well-planned seminar is hard to forget as it provides a lot of value. You also get a chance to promote your business and its offerings.
It also has a competitive advantage as your competitors may not be organizing such functions and losing the opportunities you’re garbing. It is also the key to the most successful online businesses you hear all the time. A simple phone call to appreciate the work of your affiliates is better than nothing.
It is observed that once an affiliate marketer finds an exciting program, he lefts the current one and joins the exciting one. His audience (some of which may be your existing customers) begins to change the product they are currently using when they find that the person or website they follow begins to promote a different product. This is how you’ll lose your existing customers if you pay no attention to your affiliates.
Therefore continuously get in touch with your affiliates and build a strong relationship with them. It’s even better if somehow you can transform them into your customers. This might be possible if you offer them a product or service for free at once. If they like it, they’ll keep using it.
4. Setup a Funnel to Convert Visitors into Paying Customers
Affiliate marketing campaigns are supposed to send quality traffic to your website. The role of an affiliate marketer ends here.
Visitors will not convert themselves. You need to make it easy for them to convert. Before doing anything, your business should have a clear goal. All your strategies will be made around that goal.
Basically, within the buying journey, a buyer moves through different phases. Instead of pushing a product right after a visitor lands on a webpage through an affiliate link, you should first try to generate a lead. For example, make the visitor subscribe to your email list or follow you on Social Media.
This way you have more time to introduce your offering in more detail and convince them to buy from you.
This is also important because a person rarely buys something from a brand they saw the first time.
If you are selling a membership or subscription plan, you can offer its limited version for a certain duration to your new leads without charging them. It is also a nice way of making a lead enter into your business ecosystem.
Furthermore, the landing page for affiliate links should be well optimized with a clear call to action. You may lose money and effort otherwise. It requires a fair amount of money and effort to successfully manage an affiliate program. If people aren’t converting as expected then it will be a complete waste of resources.
Here are a few things you can do to scale with affiliate marketing.
- Firstly, have a clear business goal in mind.
- Create a well-optimized landing page with a single call to action.
- If you are selling something expensive, don’t directly try to sell on an affiliate landing page. People may not buy it if they’ve never heard about you before.
- In this case, convert the visitor into the lead at first. For example, get their email address or make them follow you on social media. An easier way to get the email address is by offering a freebie.
- After that, send continuous emails periodically; and gradually, introduce your products. Tell them why it is important to buy your products.
- High care is required while sending an email newsletter. If the subscribers feel like you are spamming, they will unsubscribe.
5. Track and Analyze the Data
Last but not the least, track data, analyze it, and take decisions accordingly.
While setting up an affiliate program you should set up a system to track every activity of visitors on your website from individual affiliate links. Tracking data is something you can’t ignore. Doing so increases the chances of failure.
A sufficient amount of data helps to make wise business decisions. It helps us to know what works and what doesn’t; what we should do and shouldn’t do.
Affiliate marketing is a proven way to generate sales. It is the reason behind the success of most of the top online businesses. You should take these 5 steps in action to scale your business with affiliate marketing.
A well-established affiliate system with solid marketing strategies is enough for a business to run successfully. However, it isn’t that easy. It requires a lot of investment, effort, and strategies.
I am sure the points discussed throughout this post will help your business to succeed online. These are the methods you can use to scale with affiliate marketing.
What do you think is the best way to scale an online business with affiliate marketing?
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