In simple words, affiliate marketing is a method to promote a business brand and increase the sale of its products and services by working with a company/Partner network/individual manager/webmaster/arbitrator/freelancer who is ready to create awareness about the brand in exchange for a certain amount of commission.
This business has great potential which scripts the success of many brands. E-commerce website owners also use affiliate marketing to create effective advertising campaigns and see a significant increase in sales in a few days. So, how affiliate marketing helps entrepreneurs to get the desired success? How Affiliate Marketing Boost E-commerce Business? Let’s mull now.
- 1 Here Are Top 8 Growth Hacks On How Affiliate Marketing Boost E-commerce Business
- 1.1 1. Establish Partnership with Reliable Business Organisations at First
- 1.2 2. Make Agreement on Commission Structure with Your Partner
- 1.3 3. Jointly Promote Your Products with Affiliates
- 1.4 4. Actively Seek Results from Your Affiliates
- 1.5 5. Concentrate on high AOV Products
- 1.6 6. Sale Maximum During Festive seasons
- 1.7 7. An Error Free Website
- 1.8 8. Use Cashback Service
Here Are Top 8 Growth Hacks On How Affiliate Marketing Boost E-commerce Business
1. Establish Partnership with Reliable Business Organisations at First
Always keep in mind that affiliate program is all about attracting and monetising customers as far as possible. So, you need to find business partners that have a larger audience base in the market and is capable of generating sufficient leads with a little effort. If a mistake is made in partner selection, you eventually lose your valuable time, customers, the company’s reputation, and revenues. So, evaluate the potential of your future business partners and select them accordingly. You can choose from Amazon, Avantlink, Clickbank, Radius of Impact, Optimistic and Share-A-Sale.
2. Make Agreement on Commission Structure with Your Partner
A solid commission offer will help affiliate marketers to come with best when it comes to increasing website traffic and sales. The average affiliate commission rate for e-commerce should be between 5% to 15%. Several factors play a role when you mull on the affiliate commission rate, such as Industry, Price and product margin, the actual cost of affiliate marketers.
Create a strong commission margin to attract quality affiliates. Just evaluate competitors in your niche and launch your affiliate marketing campaigns with the strongest commissions you can afford. You can custom commission structures for different products and services. As commissions are paid after sales, so consider the cost of sold goods, profit margins and fees to get a solid return on investment every day.
3. Jointly Promote Your Products with Affiliates
In affiliate marketing, good results come only when you actively work with your partners to promote your products and services & generate sales. So, find sites and partner bloggers whose audience falls in line with your target market and invite them to become an affiliate, such as Linkdex and AffiliateRecruitment.com.
These two can help you connect with potential affiliates whose blog or website matches your needs. Also, conduct a search on World Wide Web to find your target audience. Contact influential people, follow them, get their attention by providing competitive commission rates, free products and other incentives to work as an affiliate for your company.
4. Actively Seek Results from Your Affiliates
Communicate with your affiliates regularly and seek results from them regularly. Make sure that they are aware of upcoming product releases and products that you advertise and sell. Set a standard monthly meeting to track the progress. Offer them lucrative commission deal on the high performing pages of your website so that they can promote your brand. Diversify your affiliate partners and do not rely too much on a small group of affiliates to get sustainable income every day.
5. Concentrate on high AOV Products
Generally, Average value of online shopping orders remains at $82. So, instruct your affiliates to know which products bring the highest AOV to increase your revenues by leaps and bounds. From time-to-time, keep advising high AOV products to your affiliates so that they can divert more traffic to the site for lead generation.
6. Sale Maximum During Festive seasons
The holiday season is likely to be the busiest time of all affiliate marketers in a year if they are prepared for it with a solid plan to increase traffic to the site and sell more products. Otherwise, they are likely to lose in the sales campaign. They just need to personalise their marketing greetings to make people feel special and use the word of mouth trick to attract people & sell more products. Create special offers with discounts during festive seasons to attract more people with the help of business marketing professionals.
7. An Error Free Website
It has been seen many times that affiliate marketers drive traffic to the website using different SEO techniques, but most visitors flee away from the site without making any purchase of taking the desired action. It happens because of several flaws on the website. Active online shoppers tend to have complete ease when they buy favourite products from online retailers.
So, as an affiliate marketing individual, it’s your responsibility to ensure that your website is error-free. Online shoppers should be able to place orders online without getting involved in the complicated product buying process. Your website should load fast on all Internet-enabled devices & help borrowers find the stuff they are looking for.
8. Use Cashback Service
Cashback=returning some money to customers when they buy products and services online/offline. Active online shoppers always look cashback on all products and services they buy. In Europe and America, about 50% of online purchases take place because of cashback service. You should use this system to let customers see your popular products on all major online trading platforms and generate more sales by providing some cashback to active online shoppers.
Several E-commerce brands resort to affiliate marketing when they face difficulties to generate traffic to websites & sell products in sufficient numbers. They must have proper planning & strategy for affiliate marketing to gain the desired results from their affiliate marketers and keep getting ample business opportunities every day.
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