Just like anything, the world of affiliate marketing is surrounded with a host of myths.
And unfortunately, these myths adversely impact a business’s growth and success.
Irrespective of whether you own a Fortune 100 company or are initiating a new online business, arranging an effective, unyielding affiliate marketing program can unlock multiple revenue possibilities relative to other marketing methods and strategies.
Take a look at some of the myths:
Affiliate Marketing Is All About Discounts and Deals
This is not completely untrue. Coupon and discounts continue to be one of the vital aspects of affiliate marketing.
However, brands make use of affiliate marketing promote products/services at full prices too.
With newer ways of promotion coming up, affiliate marketing has positively developed over the past two decades. Businesses are looking to using affiliates to put their messages across.
According to a recent study, 72% of millennials and 51% of Gen Xers pursued beauty and fashion bloggers; more prominently, 90% of well-to-do consumers who religiously read fashion blog make purchases due to these blogs.
Affiliate Marketing Is No More Relevant
The recent research has something else to say. Till the end of this year, affiliate marketing is projected to go beyond $4.5 billion with a yearly growth rate of just about 17%. An increasing number of retailers are designing affiliate programs to go with the rising number of wealthy shoppers and well-liked affiliates that promote products online.
Affiliate marketing is indigenous, makes use of unique content, and is brand-resonating more today than ever.
Moreover, the pay for performance concept restores the confidence of advertisers that each penny spent for advertising will generate ROI.
Affiliate Marketing Doesn’t Drive Customers
As per a recent study conducted by Forrester, online buyers conducting a research on an affiliate program website end up spending a little more than the average online buyers.
The same study concluded that affiliate marketing is tested and tried to bring in new customers.
Buyers of today are more informed and alert. They want to research, learn about product features and read reviews before making a purchase.
The idea behind affiliate marketing is connecting these buyers to the desired websites that will eventually lead to a conversion. Living in a digital era, we must realize that the buying power of people today is high. Not capitalizing on this trend is an opportunity lost.
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