How Affiliate Program Can Drive Your Plugin Business Fast
Global marketing is extremely important for the products or services that have universal demand. If you are running a plugin/ theme business, you may have potential customers from diverse corners of the world. In that case, affiliation can be an effective marketing strategy for international promotion.
Setting up an Affiliate Program lets you speak to your global audience directly. Most amazingly someone else is doing that promotion on behalf of you. And you have to pay only for results.
However, if you can’t organize or execute the strategy accordingly, it may cost a great loss of money and time. So, before integrating any new scheme into your business you should learn more about that concept.
Today we will discuss how an affiliate program draws more advantages for your online business than you expect.
Affiliate Marketing at a Glance
The concept of Affiliation was first coined in 1989 but it came to the spotlight with the massive success of Amazon Associates, BeFree, and LinkShare. And today Affiliate marketing is one of the most popular marketing tools to drive sales and generate revenue.
As an entrepreneur or a digital marketer, the risk of working with affiliates is comparatively low and the reward is extremely high. In the affiliate program, you can hire people to promote your brand and bring more customers. And you have to pay them only when they convert visitors into customers.
So, it will lessen your hassle for customer conversion and lead generation. Alternatively, the affiliates will get a chance to make money without owning any product. Therefore, it is beneficial for both affiliates and brands as well.
Affiliate marketing has made businesses millions and ordinary people millionairesBo Benet
Some Affiliate Marketing Facts & Stats that may influence your decision:
- ShareASale holds 55.7% of the market share.
- Affiliate marketing spending will hit $8.2 billion USD by 2023
- Affiliate marketing accounts for 16 percent of all online orders
- Jason Stone earned around $7 million in the months of June and July 2017 after launching an affiliate program
- Affiliate Marketing drives US eCommerce 15%
- Sales revenue has risen 240% by content publishers
- SEO traffic converts 7X more than other marketing forms
- Groupon is one of the most successful companies built on affiliate commissions
- The affiliate market will be worth $12B by 2020
- There is a 10.1% increase in affiliate marketing spending in the United States each year. It shows that by 2020, this number will reach $6.8 billion.
- 81% of brands use an affiliate program to promote their products or services.
Benefits of Introducing an Affiliate Program for Your Business
There are a ton of advantages to using Affiliate Marketing. It can be a powerful strategic tool for all types of businesses: startups to large enterprises.
Broaden Your Audience Size
Nowadays affiliates can be found in every industry and product category. Perhaps, you can easily extend your current marketing team by signing partnerships with them.
Most of these affiliates already have their established audience base. And they know how to influence their readers to make a decision. It can be an effective way to reach your target audience more widely.
Moreover, when a large number of marketers promote your themes/plugins from different corners of the globe it will definitely create a huge buzz to the crowd.
People also prefer to read reviews from local advisors rather than the manufacturers. It may play a major role in enhancing brand awareness as well as driving website traffic and acquiring loyal customers.
Extend the Approach of Your Brand
Affiliation gives you a fair chance to scream the brand voice widely. By partnering with a trusted website or blogger you can foster your product promotion responsibilities among the others.
According to a recent study, 95 percent of buyers read online reviews before making a purchase.
In that case, the source of review and content quality leave a quantifiable impact on purchase decisions.
So, it will improve your brand recognition if you can tie up with reputed companies or individuals to review your product through an affiliate program.
Scale Your Traffic and Sale
Affiliate programs are useful to businesses because it drives more potential traffic to your website, generates leads, improves sales, and increase brand awareness.
However, affiliate links don’t have a direct impact on your search engine rankings. But the more people know about your products, they will search for it on the web.
Moreover, you will witness rapid plugin growth for your business. These factors can impact or your direct and organic traffic as well. It will upgrade your chance to convert those visitors into paid customers. As a result, when affiliates start promoting your themes and plugins, it will boost your sales dramatically
Cost-Effective Marketing Strategy
Most amazingly, the entire Affiliate Program is fully performance-based. So, there is no chance of losing money or extra spendings. You have to pay only when the desired events have taken place.
That’s why the marketers also set their marketing strategies that encourage the visitors to make a purchase on your site. It is extremely beneficial to your online business.
By using this technique you can get more loyal customers at a low cost. Furthermore, it is more secure than spending a thousand bucks on a marketing campaign with no guaranteed return.
Affiliate marketers know their audience very well. So, they run all the campaigns and publish other content keeping the audience’s preference in mind. It is helpful for your brand’s exposure. The marketers perform all types of promotions to increase the number of paid customers for your business. As they will be get paid only when the sale is made.
Apart from this, you can create a huge buzz among the customers even before launching a product through affiliate marketing.
Suppose you are planning to come with a new product or service this Christmas. In that case, you can contact with your affiliates to scream this news worldwide.
Consequently, you can take the help of your affiliates to let your customers informed about any special offer or discounts. Hence will strengthen your business reputation and boost brand awareness as well.
“Free” Content Marketing
Every successful affiliate program has incredibly interesting content behind it. That’s why the marketers put their best efforts to create a ton of useful content. And then promote these contents on different platforms to drive profitable customer action.
Affiliate marketers usually create different types of engaging content to draw the buyer’s attention toward the targeted brand. They usually review the products or services through optimized blogs, infographics, video and others to attract and retain a clearly defined audience.
And the good news is that you need not pay for this Content Promotion until you get the desired action from the users. In short, it’s completely a secure and low-cost marketing approach to deliver valuable and relevant information to a particular audience base.
Marketing is all about reach and engagement. In today’s busy and crowded online world it is quite challenging to get the right audience at the right time. In this situation, Affiliate marketing can be an effective way to acquire more loyal advisors for your brand.
When you have affiliates connected to your business, you will get access to new audiences outside of your normal reach. It will increase the opportunity to get more clients to your brand. And you witness the return on investment skyrocket.
CJ Affiliate’s Affiliate Customer Insights unleashed the revenue benefits of the affiliate program. Affiliate purchases result in:
- Twenty-one percent higher average order value (AOV)
- Thirty-one percent higher per customer order average
- Fifty-eight percent higher average customer revenue
These are the core reasons that make affiliation fit for your brand promotion and fast-growing revenue.
How Affiliate Program Works
There are two sides to an affiliate equation: the product creator and the affiliate marketer. Here the promoters spread the brand voice across different channels and make loyal customers for the brands. And the business owners share a percentage with the marketers based on their contribution.
The Merchant: This is the individual person or the company that creates the product or services. Such as weDevs is a renowned company who is the creator of Dokan, WP ERP, weMail and so many amazing plugins to make your WordPress site more powerful.
The Affiliate: Affiliates or publishers can also range from a single person to an entire company. This party earns commission by promoting the merchant’s products that the buyers end up buying it.
The Customer: Customers fuel the whole affiliate program go around. Without getting any sale, there are no commissions to hand out and no revenue to be shared.
The Network: A common platform that connects publishers with retailers offering affiliate program opportunities for their products or services. ClickBank, Amazon Associates, Pepperjam are the best example of earning passive income. These portals let the affiliates access to numerous affiliate programs.
So, How the affiliate program actually works:
- Affiliate is assigned a tracking URL
- Affiliates promote your brand
- Customers or leads buy your product or sign-up
- Affiliate receives a commission
Nevertheless, there is a fine line between affiliate marketing and referral programs. For instance, Dokan has a referral program. So if you are a current user of this marketplace solution then you can refer it to your friends. And earn a sort of attractive reward through the weDevs referral program.
On the other hand, for affiliation, you don’t need to be a customer. Anyone can be an affiliate and promote the brands through engaging blogs, videos, social media and so forth.
Scream Your Brand Voice with Affiliate Program
An affiliate program can bring sustainable growth to the business with great revenue. It will help retailers to upgrade their marketing strategy for the upcoming years. Whereas a publisher you can earn money online through generating sales for the vendors. This can be achieved by creating and distributing valuable, relevant, and consistent content.
Share your responses with us in the comment section below with any questions or comments.
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