Starting an online business comes with a love-hate relationship with marketing. You know you need it to make your company thrive. But with all the growing competition, standing out can become problematic.
This holds true whether you’re selling products or services. The good news is there are methods you can use to get the attention of your target customers. For example, teaming up with influencers in your industry.
People trust the recommendations of other people more than they trust advertisements. By using affiliate marketers, you’re entering into a win-win deal — you get more sales, and your affiliates earn more revenue.
Let’s look at how this all works and how you can get started using affiliate marketing.
What is Affiliate Marketing?
Affiliate marketing is a “partnership” between a seller (you) and an affiliate marketer (the influencer) who helps get folks to purchase your products or services.
Let’s say you’re the owner of an eCommerce shop selling custom pottery. You find a blogger who shares tips on home decor. You both have a similar audience, which is perfect for a partnership. So, in exchange for mentioning one of your products (and linking to its product page), you give the affiliate a percentage of each sale. Anytime someone clicks on that link and makes a purchase, the affiliate earns a small commission.
If this blog generates thousands of views per day, this can potentially drive hundreds of people to your products. And you can often do this with more than one affiliate at a time. By working with multiple affiliates on an ongoing basis, you can create a healthy stream of income without paying thousands for advertisements.
What Are the Advantages of Affiliate Marketing?
Today, affiliate marketing accounts for 15% of all digital media revenue. And it makes up 16% of all eCommerce sales in North America. So it’s no surprise the industry is worth $12 billion (and growing). It’s a marketing method that works well because of one fact: people trust influencers. With a well-crafted affiliate marketing program, you can boost your revenue by a whopping 30%.
Take a look at the benefits of using affiliate marketers, and you’ll see why the industry is hustling and bustling:
- You can handpick who you partner with (better brand alignment)
- You’re getting highly-targeted traffic
- You only pay for performance and sales (not ad clicks)
- The risk is lower than any other form of marketing
- Startup costs are limited
- You can grow awareness for your brand (turning first-time visitors into long-time customers)
- You can track affiliate performance to enhance your marketing strategy
- People trust brand ambassadors
- You can break into foreign markets
- There’s a great return on investment
- There are many affiliates to team up with
Let’s review how you can get started working with affiliates.
How to Build Your Affiliate Marketing Network
Affiliate marketing is a strategy every online business owner should be using. But getting started can be cumbersome, especially if you don’t know how to build a strategy and find affiliates.
You can use the services we offer on Fiverr to help you through the process. We have a large selection of freelancers available to help via our done-for-you affiliate program strategy and setup services. This will speed up the process so you can begin finding affiliates to work with.
Not sure who to partner with or where to find them? Then you can use our affiliates recruitment service. Our experts can match you with the best partners to promote your products and services.
After you have a program and affiliates on your squad, you can enhance your sales by developing marketing funnels. We have experts who can help with this as well.
Once your affiliates begin creating content with your product links, you can use our link promotion service to attract more targeted traffic.
Start Earning More with Affiliate Marketing
With the services we offer at Fiverr, you can have a profitable affiliate marketing ecosystem set up for you in no time. We even have our own Fiverr affiliate marketing program (which you can join and earn money for referring others to our services).
There’s a lot of money to be made in this industry, whether you’re an affiliate or merchant. But it’s up to you to take the first step. Get started today by using our affiliate marketing services!