Have you ever heard of the term Affiliate Marketing? An online sales tactic lets a product owner increase sales by allowing others to share products you sell and earn a commission by recommending the product to others. The cost of the product for the customer will remain the same whether it directly purchase from the store owner or through an affiliate.
Let’s understand this with an example;
If your product sells for $500 and you keep 80% of the product price. Now, if any affiliate marketer helps you sell the product, he or she will earn a 20% commission for driving sales inside your store. It’s on these affiliate marketers to choose any method to drive sales inside your store, whether it’s SEO, Facebook Ads, Pay per Click or any other platform.
This tactic helps store owners earn less money, but it helps acquire new potential customers they probably wouldn’t reach easily. Large companies and shop owners are probably hiring affiliate marketers and gaining an enormous profit utilizing the concept of Affiliate Marketing. So, now it’s your turn to get started, but before that, take a look at why it plays a significant role in the E-commerce business.
Here are some important reasons why you should use affiliate marketing in your online store.
Increase your Store Sale
Affiliate marketers make videos or perform Photoshop programs to promote physical products and publish them on related websites. In the product description, they will add your link, and on clicking the link, the customer can purchase the product, and the marketer will earn his commission on this sale. That is how the sales of your store increase.
Economical Prices
For beginners who want to start with an Affiliate Marketing system, you don’t have to invest even a single penny, but it will help you to generate more sales. You must pay a commission, which is not a big deal if you earn enough.
Increase Brand Awareness
The Affiliate program will help you enhance your store’s popularity by sharing your product links through which your shoppers and marketers can get discounts. It will result in massive traffic on your website.
Optimize SEO rank
Affiliate Marketers will publish your product on the higher DA website, and if the customer clicks on that product link, they will get back to your website. It is an Off-page SEO activity that will boost your rankings and backlinks.
Know Customers Insights
Using various affiliate tools, you can see where people scroll, where they click, what and from where they are buying your products. All this will give you an idea of what changes you can make to get more customers. Also, analyzing this pattern helps you to turn your customer into a happy returning customer.
No Large Sales Staff
In Affiliate Marketing, you don’t need to have a huge sales staff. Pay the affiliates when they bring you sales. If they don’t bring you any sales, then you don’t need to pay these Marketers. That’s it. In this way, you will save a significant amount of money.
Social Involvement
Under the affiliate marketing program, you can easily integrate with social networks and can attract visitors from reviews, comments, suggestions or testimonials. Visitors generally read reviews and see blogs or posts socially of your product before making a purchase.
The growth of the Industry
More knowledge and use of the affiliate program have let merchants increase their businesses in the market. Currently, under this program, the industries are growing exponentially.
To be in a vast and complex business world and compete with other traders, ‘Affiliate Marketing’ is the best choice for a merchant. Merchants favor affiliate marketing because it uses a “pay for performance” model that lets you make your business strategies for your companies to prosper.
And if you are planning to sell Affiliate Products in Magento Store, you should probably try our Affiliate Product Links Extension for Magento 1. x or Magento 2. x.
And if you are looking for more help regarding Affiliate Marketing, leave your question below. We will try to answer your questions ASAP.
Happy Marketing!