Starting and growing a small business online requires a unique product, vision, hard work, and regular revenue to support your daily operations. Of course, revenue is the end game for everyone, but the consistent conversion required to generate the revenue stream your business desires is where the secret truly lies. One of the ways to grow your sales, increase brand awareness, and diversify your revenue is to start a Paypal affiliate program.
What Is an Affiliate Program?
Affiliate programs are a clever way for small businesses to expand their marketing, create brand awareness, and drive conversions. With an affiliate program, a business pays an affiliate to drive traffic to their site by posting links for their consumers to follow and encouraging them to buy products from your business. The affiliates are usually paid a commission on purchases made due to their affiliation with your company. This arrangement is beneficial to your business in several ways, but how do you track, manage, and pay your affiliates?
Why a PayPal Affiliate Program?
Most everyone knows of or has used PayPal. PayPal is an online and mobile payment system with worldwide brand name recognition. It began in 1998 and has a long-standing reputation with businesses and buyers alike. PayPal can be used to send and accept money online, in person, through email, and even over the phone.
PayPal offers a wide range of services. Money can be exchanged through direct bank transfers, debit cards, and major credit cards like Visa, Mastercard, and Discover. PayPal can even be used in the United States to buy, sell, and hold certain cryptocurrencies. PayPal is secure and easy to use, and setting up an affiliate program using PayPal affiliate software is a fantastic way to grow your business.
5 Reasons To Set Up an Affiliate Program Using PayPal
1. It Increases Your Brand Awareness
Affiliate programs offer businesses the opportunity to connect with customers who already want their product but haven’t yet been introduced to it or haven’t been completely convinced to make a purchase. Having an affiliate partner promote your product lets the audience watching your company know that it’s time to cross over and make a purchase.
Whether you partner with an affiliate marketer or a fellow business, the partnership is a win-win as conversions generate revenue for everyone involved, and having others promote your product keeps you in the eyes and minds of prospective customers. PayPal is a massive name in the payment business, and when curious customers see you associated with it, it elevates your brand.
2. It’s Low Risk And Low Cost
It’s difficult to know where to spend your money as a small business. Budgets are tight, and you don’t want to waste your money on marketing campaigns that aren’t going to drive conversions and generate revenue. You want a low-cost, low-risk way of getting your product in front of people without having to pay too much upfront.
Typically, affiliate programs require that you only pay when positive performance is achieved. If your affiliates don’t make you money, then they don’t make money themselves. This drives affiliates to advertise your products in the most creative way possible so that customers viewing your product will buy.
Setting up your affiliate program is also low-cost. There are helpful PayPal affiliate tracking tools that help track the conversions your affiliates drive and keep their payment reliable and accurate.
3. It’s Simple
Running a business requires enough hard work without dedicating yourself to being the brains and executor behind a marketing campaign. Setting up an affiliate program helps relieve the burden of developing creative marketing campaigns and figuring out how to execute them. Let your affiliates find creative ways to sell your product or service, and you can focus on providing the best experience possible for your new customers.
4. It Rewards Loyal Customers
Who better to sing your praises than a current satisfied customer. Get to know your loyal customers and find out if any of them want to join your affiliate program. They already know what wonderful things to say about you — or are already saying about you — and now is a chance for you to offer them something in return. Allow your customers to market for you; no one will work harder for your brand than someone who already loves it.
5. It Generates Revenue
And here’s the big one, what all businesses are born to do. Businesses generate revenue from sales and spend the bulk of their time on how to drive those sales. Many options are costly, but they generate their money back, so they’re worth it.
Affiliate programs are one of the only methods of driving sales that combine the low-cost and low-risk factors along with considerable results. According to a Forbes article, some e-commerce businesses get 20% of their revenue from affiliate marketers. Do you need more convincing? This revenue was reported to be generated months after having begun their affiliate program.
Ready To Launch an Affiliate Program on Paypal?
Once you’ve decided to expand and grow your business using an affiliate program, you’ll need to learn how to set it up. Of course, you’ll want to choose PayPal as your payment method for your affiliates. PayPal is an assured way to let potential affiliates know that you’re serious about building a great win-win relationship with them. But how do you run such a program?
LeadDyno is an affiliate management system that is here to help. LeadDyno’s affiliate software allows you to set up your affiliate program in just minutes. We offer PayPal affiliate tracking that enables you to track sales and affiliate payouts quickly and efficiently. LeadDyno also helps you learn what marketing channels are working best so that you can intelligently allocate your online advertising spend going forward. LeadDyno provides a solution for both e-commerce and SaaS businesses to launch and grow their own affiliate program.