Small e-commerce businesses may find affiliate marketing to be the most effective method of marketing. Why? Because there is zero risk involved in setting up an affiliate marketing campaign, and with a performance-based model, small business do not have to pay for advertisements that bring them no result.
Here are some ways in which you can manage an effective affiliate marketing program for your e-commerce website:
Focus on a Niche
Your target audience shouldn’t be all the internet users at once. Focusing on a niche market is important to make any affiliate marketing strategy a success.
By focusing on a niche, you find better affiliates. Influential affiliates already have traffic established, and if your product or service is something that is relevant to their chosen niche, you can quickly increase traffic on your website by partnering up with them.
Know where the Affiliates are advertising
This point is really important if you are investing in other forms of marketing, such as SEM and SEO. For example, if your affiliates are advertising on platforms that are not effectively managed, they may appear in search results higher than your own website for the same keywords.
This means that you are paying for every sale that you are generating through search engine, when it should have been free. Therefore, you should set some rules for your affiliates as to where they should be advertising; otherwise they could be competing with you on the same keywords that you are using for promoting your own website.
Measuring Results Daily
Sometimes, affiliate websites aren’t very reliable, which is why it is important to measure the results.
Track your own data daily and compare it with the data of your affiliates. This will help you understand how affiliates are helping you in your business. Because of the nature of e-commerce businesses, you will come across customers that aren’t profitable, so an affiliate that is generating 500 sales may not be as beneficial for your business as an affiliate who brings you 15 profitable customers daily.
Establish Long-term Relationships
An effective affiliate marketing program is about establishing long-term relationships with your affiliates. With time, you will understand which affiliates are valuable and which ones are the dead-weights.
By cutting out the non-profitable ones and seeking to build long-term relationships with the valuable affiliates, you will be able to establish an affiliate marketing program that will generate more than 25% of your sales.
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