E-commerce has exhibited rapid growth since 2016. According to statistics, the retail e-commerce sales in the U.S. amounted to $446.8 billion and are expected to surpass $700 billion by the year 2022.
A major fragment of e-commerce is dependent on affiliate marketing. Planned execution of this marketing strategy can result in high revenue generation. In 2017, the U.S. alone spent $5.37 billion on affiliate marketing. Another report suggests that affiliate marketing generates 15% of the total revenue of digital media industry in the U.S.
The success or failure of this marketing strategy depends on your marketing tactics.
In this era of cutthroat competition, promoting your product can be a tough job. Here are a few mature affiliate marketing strategies and their benefits:
1. Coupon-based Marketing
The use of discount coupons can be a lucrative marketing strategy as it gains customer attention. Customers are drawn toward products that allow them to save their money.
Offering rebates would reduce your commission, however, your product will gain customer trust and will pay back in the long run. If your product delivers desired quality at discounted rates, customers will refer to your website whenever shopping online.
2. Review based Marketing
You can hire affiliates to review your product and recommend it to customers. You can offer commission to your affiliates based on the number of customers they sell the products to.
If you’re an affiliate, keep the review genuine and helpful for readers. Your product review should focus on how it’s a solution to the consumer’s problem. In-depth and honest reviews create your impression as an authentic reviewer. You can use this advantage to convince your customers into buying a certain product.
3. Email based Marketing
Simplistic in technique and easy-to-use, emails allow you to contact multiple groups in an individualized way. The unparalleled ability to communicate with each client in a customized way makes email marketing an important strategy for affiliate marketing.
You can leverage this technique to your advantage by adding a CTA to your website. Another way of using this technique is by adding a help bar at your homepage to ensure it’s viewed by the audience.
You can promote E-books, checklists, worksheet, or any promotional offer that encourages customers to provide their name and email address. You can send your promotional content to the customers via email.
Another effective method of using email is by adding behavior-based popup. It should appear when users click a certain link or are about to exit the webpage. Email is an effective way to reach your target audience. You can gain numerous customers by creating an engaging and relevant email content.
4. Webinars based Marketing
Webinars allow affiliates to engage their customers in an interactive session where they discuss how to use a product and its associated benefits. These sessions allow the host to communicate with his customers and answer their queries. This generally results in satisfied customers and high commissions for the affiliate.
It’s a trendy way to market your products. You can promote your webinar’s sneak peek on YouTube and other social media platforms. Upload the full video of the webinar for customers who were unable to attend.
If you’re an affiliate looking for a program with a reasonable commission, become a part of our affiliate program! Our affiliate platform will provide you with products for review, so you can generate income for your coverage. If you’re a marketer trying to sell your products, sign up on our top affiliate marketing software today and monitor your affiliates’ performance.