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Boost Your Business Revenue with Affiliate-Marketing

Or, Take your business to the next level with affiliate marketing?

Sourced from Google.

New businesses are emerging nearly every day, and many of them invest hugely in marketing strategies that could barely achieve the expected Return on Investment (ROI)

The reality of these businesses is that they give more attention to the popular means of achieving marketing success (i.e., traditional advertisement).

However, an updated entrepreneur can always find an alternate source of income to water his business. Especially, if he’s running an E-commerce or Software as a service (saas) company. You can take your business to the next level by leveraging the ease and benefits affiliate marketing provides to get your products or services across to desired audiences.

What is affiliate marketing?

Affiliate marketing is a win-win sales model that rewards an affiliate for referring people to buy a product or service. In every qualified sale that an affiliate records, he receives a commission for it, and it goes on like that.

Qualified sales interprets what the business owner and the affiliate agreed on to be as a sale.

Meanwhile, the commission rate differs, depending on the offer and the company. E-commerce sites like Amazon pay affiliates up to 10% per sale, and Convertkt an email marketing service offers a recurring 30% commission.

Whether you own an e-commerce or SaaS company, affiliate marketing’s (performance-based) tactic is a low-risk means to promote your product or service, broaden your audience, and also a lucrative way to earn a healthy income.

What are the benefits of affiliate marketing?

Higher conversion rate

“…inbound referral links from trusted and reputable affiliates can increase your visibility online… This way, you can convert site visitors to paid customers.”

You’ll enjoy higher conversion rates when your business is promoted in trusted networks by affiliates, compared to direct advertising where trust building would take a long time.

Affiliates have various sources of traffic that they utilize to sell your products or services. A good number leverage their professional or personal networks, social media presence, blogging skills, and some email marketing.

When affiliates promote your product to their networks, you gain reputation and trust within the new audience. Plus, gaining inbound referral links from trusted and reputable affiliates increases your visibility online as more people will now be searching for your products or service. This way, you can convert site visitors to paid customers — a big plus to your elbows.

It’s Cost-Effective

In affiliate marketing, you pay commission to the affiliate only when they make a qualified sale. Unlike in online advertisement where you first, have to spend money on ads, then hope to sell if the ad is successful.

On a plus, affiliate marketing saves the penny you would’ve spent on customer acquisition, especially when you have an affiliate network that drives high traffic to your site.

It broadens your audience

The best way to understand this is to see your affiliates as an extension of your sales team. They showcase your product to your target audience that you’re yet to make contact with, allowing your brand to explore new markets and build a strong reputation online.

Affiliate marketing can be a contribution to both online and offline (physical) sales. But since there’s a shift in the buying behavior of consumers (from offline to online). Your affiliate marketing strategy must include giving your affiliates the right tools earmarked for online success.

Like other marketing industries, tools like Tapfiliate makes the whole affiliate marketing program hassle-free. Tapfiliate is one credible example of an affiliate tracking software that offers businesses a smooth opportunity to control and execute their affiliate program from one place.

First, What is an Affiliate Management Software?

Affiliate management software is a tool used in monitoring the marketing activities of an affiliate. It tracks the sales, conversions, or clicks from affiliates’ websites to gain insights on their performance and properly compensate them.

Affiliate tracking software helps businesses to:

· Generate tracking codes.

· Track the time and location of marketing activities (clicks, lead, sale, etc.)

· Track the source of such activity to determine if it was from a blog post or social media post?

· Measure the level of effectiveness of an affiliate.

· Detect fraud and suspicious activities.

And so on.

How Tapfiliate Can Help to Grow Your Business

Tapfiliate automates all affiliate marketing processes for you, from the onboarding of affiliates to tracking the progress of affiliates, down to prompt payment of due commissions to affiliates.

1. Accuracy in analytics

Affiliate management software tracks the marketing activities of affiliates such as clicks, leads, or sales. And as well, provide data on the efficiency of affiliates to help measure how successful an affiliate is selling.

This way, your affiliate marketing progress is crystal because you can see the total number of clicks, leads, or sales that your affiliate marketing program has garnered over time and the corresponding commission due for each affiliate.

This feature ensures all-around transparency on both sides (you & the affiliates). It crushes every possibility of error in accountability that could emerge if it was to be monitored manually.

2. Saves Time and Enhances efficiency

The Tapfiliate platform offers an automation feature that makes reaching out to the desired audience easy, calculation, and settlement of commission

automatic. Here is all I’m saying:

  • Social network sharing of content in one click.
  • Crystal financial records
  • Automatic payment of commission just when due.
  • Instant notification on new visitors or sales.

Save your sales and marketing team the time to focus on poetized responsibilities.

3. Exposure to larger audiences through affiliate networks

Reach a wider range of audiences at the international level.

Not very many affiliate managing tools offer opportunities for international affiliates corporation. Tapfiliate’s inclusion of the multilingual feature allows this.

To have international affiliates recommend your products or service will expose you to a new set of audiences you wouldn’t have been able to reach on your own.

4. Prevents fraud

Affiliate management tools save you the cost of acquiring losses to online theft.

With super-tight security systems that are on high alert to detect fraudulent acts such as simulating clicks to earn more or even hacking into the system to inflate affiliates’ credits and ratios.

You can’t run on any loss with this one to online theft, scam, or fraud.

5. Builds trust between you and affiliates

One of the best ways to attain success in affiliate marketing is to be trusted. And it starts from the advertiser (you) to the publisher (affiliate) before it gets to the consumers. When they trust you, they’ll sell your product or service without discernment.

The best way to achieve this is to reward your affiliates justly. Because their payment can be automated, affiliates will be motivated to sell more because they trust that they’re not working in vain.

Bottom line

If you run an eCommerce or SaaS brand that channels on building a reputable brand with an organic audience while managing costs and maintaining a high ROI? Investing in affiliate marketing can be the best choice because you can spend less to sell more products or services to a wider audience — saving advertisement costs, and also convert them to your customers, saving Customer Acquisition Costs.

And it is important to note also that as a small business, leveraging affiliate marketing can level competitiveness because affiliate marketing benefits both small and big businesses.

So, if you can find a great affiliate network to market your products and your marketing strategy is in check? You can generate massive clicks and leads, drive sales, and take your business to greater heights.

References

www.technopedia.com/definition/23106/affiliate-tracking

https://en.m.wikipedia.org/wiki/

https://www.tapfiliate.com

https://www.affiliated.io/tapfiliate

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