The key to any Ecommerce business is to increase the number of ways you can make money from it. Once you have several sources of income that work, it is important to optimize and maintain them so they grow naturally over time. Using tools such as affiliate marketing and Delivery Date Extensions are great ways to extend your business past any preconceived limits you may have once had. Here are ten surprising ways that Affiliate marketing will transform your ecommerce business.
- Indirectly grow your sales team
Most online entrepreneurs are either working alone or have a very small team. This means there is a lot to do and not a whole lot of time to market and sell your products directly. Affiliates do all of the leg work for you so you can sit back and handle the rest of your operation. They bring in new traffic without you having to do much beyond securing them initially. This makes it well worth paying the commission they take on each and every sale since you wouldn’t even be getting that sale in the first place if it wasn’t for them.
- Multiple paths to conversion
There are multiple incentives you can employ to get affiliates interested in selling your products. You can have them get people’s email, fill out a form, download a pdf, or go in for a direct sale. Each type of incentive works better on certain customers so playing all of these angles is a great way to get more conversions from a variety of potential clients and consumers.
- Improve customer loyalty
Return customers are more likely to spend the big bucks than a new face. Leveraging existing fanbases and converting them into your clients allows you to sell even more to them in the future. Once you have a list of past customers, you can begin offering them great products and use convenient features such as delivery date extensions to increase their likelihood of buying additional items or services.
- Enhance credibility
Having a bunch of affiliates boosts your credibility since you can prove that many people endorse your products. Some potential customers are more skeptical and no amount of smart marketing is going to get them to pull the trigger. For these tough clients, you have to show that other people have enjoyed your product and found value in it. Once they see that others are happy they are far more willing to try out your offerings.
- Better budgeting and ROI
You can really save on marketing costs by using affiliates. With a traditional ad, you pay for space or clicks that may or may not lead to actual sales. You only have to pay your affiliates when they actually make a conversion so you are guaranteed to make a profit.
- User-generated content overload
For those days when you sit down to work but the creative juices just won’t flow, you can rely on your affiliates to create content that still generates income for you. Since they want to get paid as well, good affiliates will keep consistent content flowing that markets tour previous products so you can still rake in dollars as you struggle to plan your next move.
- Develop brand ambassadors
Influencers can nudge their followers in the direction of your products and show that your brand is one worth taking into consideration. The best influencers flaunt your products by showing themselves actually using it in their daily lives. This strengthens your brand recognition amongst thousands if not millions of potential customers that will now turn to you when they need to make a purchase.
- Speedy results
Traditional digital marketing takes on average 6 to 9 months before it breaks even and becomes successful. You can accomplish a whole lot in that time and some business owners don’t have the luxury of waiting that long. Affiliates can produce sales almost immediately since a majority of them already have established following and funnels with which to convert sales. Leverage their existing online presence while you build up your own in order to maximize your profits.
- Develop your niche
Knowing your audience is a crucial part of any business and affiliate marketing is a great way to learn about those who would be interested in your products. When you partner with someone, you get to see firsthand what kinds of customers gravitate to your brand. Once you have an idea of who you appeal to, you can customize your campaigns to target more people with similar interests and needs. This leads to more conversions and sales since you have potential customers who are already proven to like what you are offering.
- Tailored target audience
Digital marketing on sites like Facebook has come a long way. You can target people with very specific hobbies, interests, or geographic locations. However, there is no way to see for yourself if those types of people are actually seeing your ad. With affiliates you have much more control over where and whom your advertising is placed. This saves you both money and time since only the people you want to target are actually seeing your business.