Here are 5 reasons affiliate marketers cannot afford to ignore affiliate marketing campaigns in their overall marketing strategy.
1. Wider Reach: The more the number of affiliates you have in your network, the greater the potentials of your reach. The reason is simple. You leverage your own network and the individual networks of all your affiliates to put out your marketing messages to expand your reach. For this reason, if you are diligent and painstaking enough to choose your affiliates correctly, they can significantly expand your reach into new audiences and the results could be phenomenal. Through this scenario, affiliate marketing can easily give your business a global footprint within a relatively short while. This it does by putting your brand/product/service in front of thousands if not millions of your customers and potential customers for less effort.
2. Low Cost of Operation: Every reasonable business owner must always keep a keen eye on costs. Affiliate marketing campaigns are relatively cost-effective when compared to traditional marketing methods on TV and Radio where paid ads cost a fortune even without any guarantees that you’ll earn a dime in returns. With affiliate marketing, all you really need is an in-demand product/service, a carefully selected group of interested affiliates with an engaged audience and a decent commission to incentivize your affiliates. That’s it! You are obligated to pay your affiliates only when they make a sale. Quite simple really! You only pay commissions for sales made and nothing else. This arrangement has no chance of hurting your ads budget since your affiliates only take their commission right off the top of the sales you are making. No other marketing tactics come closer to this in terms of low operational costs.
3. Low Risk to Operate: Keeping risks low is also good for business just like keeping costs low. In affiliate marketing, it is easy for the brand/product merchant to push the hard work of marketing to affiliates. That helps to give the brand more time for product development. Since affiliates are expected to be paid only when they make a sale, it simply means the marketing campaigns are essentially self-funding. The harder affiliates work to promote products/services therefore, the more money they make. All affiliates know that if they don’t make sales, they don’t make money. They are therefore obligated to always up their game, take more risks, make more sales and make more money by way of commissions. Simple!
4. Easy to Track Metrics: Without the right metrics, it is always pretty difficult to adequately track marketing campaigns. Quite fortunately, affiliate marketing is one of the most easily trackable ways to market your business online. With every affiliate issued a unique code or URL, you can easily determine through these codes, exactly which affiliates are getting you which results. That makes it easy for the product merchant to compare results from his numerous affiliates. It is thus easy to know which of these affiliates are most profitable and how to reward them adequately. Through these efforts, some brands can even decide to give high-performing affiliates better terms or even more incentives like higher commissions in exchange for making a certain amount of predetermined level of sales.
5. Easily Scalable: In digital marketing, economics of scale can always be leveraged for better results. Since every affiliate gets paid depending on the sales they generate, you can at any time add more and unlimited number of affiliates to help generate sales. Therefore, any number of affiliates can always be added to your program as needed and at any time. Because brands are only required to pay affiliates a commission on every sale, affiliate marketing is easy to scale up without hurting the marketing budget of your business.
