With the rise of the internet and social media came bloggers and influencers. Just a couple of decades ago, the words blog and blogger didn’t even exist, but in 2019, every other person you know is a blogger or an influencer.
The success of social media influencers is justified, since they not only serve the needs and wants of their followers, but also play a vital role in the success and promotion of the businesses they are affiliated with.
For an affiliate, affiliate marketing means something completely different compared to what it means for a business or company. In this blog, we’ve listed some helpful tips for small businesses that plan on using affiliate marketing to boost sales and increase profits.
How do Affiliate Marketing Programs and Tools Result in Profit?
Let’s look at some important facts and numbers regarding affiliate marketing.
- In 2017, $5.3 billionwere spent on affiliate marketing in the US
- The US will be spending nearly 7 billion dollarsby 2020, just on affiliate marketing
- Over 80% of brandsin the US use affiliate marketing to boost sales
- Nearly a quarter of business profitsare generated by affiliate marketing
As a small business, it’s often hard to make a mark in an industry full of competition and businesses that have the same idea as yours. Not only do you need to stand out from other businesses, but you also need to reach your audience organically. And doing it on your own is hard.
- With affiliatemarketing software, you gain the ability to discover affiliates who are interested in your product and genuinely want to promote it. The top affiliate networks aren’t just about making a quick sale and getting commission, but are also responsible for building rapport between your business and its followers. You can track the progress of each affiliate in real-time by using an affiliate marketing tool or software.
- For every new product, an affiliate marketing tool lets you reach hundreds of affiliates who may not be significant to your target audience, but can still endorse you for their followers and bring in potential customers due to the trickledown effect it has.
- Affiliate marketing is considered to be the most credible form of marketing. Using the right affiliate marketing software, you’re able to see the numbers and understand what kind of promotional material is making the biggest impact on buyers. This will save you time in market research and you’ll be able to devise upcoming strategies using data collected from affiliate marketing software.
- Hiring influencers through affiliate marketing software allows you to pay affiliates based on sales instead of flat rates. The affiliates that bring in more business get paid more and the ones with fewer conversions get less commission. Without software, you’re bound to pay all affiliates the same flat rate, even when no sale is made.
Using LeadDyno to set up your affiliate marketing program, you can immediately get access to thousands of affiliates already on our network. With your program in our directory, affiliates can choose your products and services relevant to their niche and start selling in no time. Our top affiliate program will allow you to keep track of every sale, conversions, and profit.
Check out our website to know more about what you can do to recruit influencers and affiliates. If you’re still unsure about our services, get a risk free trial for 30 days and find out the benefits for yourself.