Over the past few years Content Marketing has proved to be an effective and well adopted medium to drive traffic that eventually translates into business. Most of the research websites that have done independent surveys to gauge the performance or feedback that businesses had for Content Marketing shows that around 72% of businesses believe that content is essential for them; and around 63% Marketers say that well executed content has helped them increase their Leads & Conversions by around 40%.
However, with competition stiffening it’s just not enough to maintain a Blog for your business. In today’s E-Commerce scenario it’s easy to find multiple players within numerous categories whether that be Fashion, Food, Electronics, Jewelry, Education and so on; and almost every one of them is operating a well drafted Blog, Social Channel, Email List and so on; I am sure you reading this are also aware of how your competition is using content to drive relevant traffic to their website. So how does your business then amplify its content creatively and achieve its objectives?
This is where Affiliate Marketing can help you.
Businesses whether established or fresh are looking at non conventional and efficient mediums to connect to their audience effectively. It’s a perpetual objective for the Marketing Manager & Founders to ensure that the best returns are sought on the marketing spend made. Sometimes you occasionally come across businesses, especially Startups, who are weary about having to incur a high expense initially and research on growth hacks, or cost efficient alternatives inorder to reach out to their targeted audience. This is why the Performance Marketing channel, Affiliate Marketing, has been adopted by a lot of businesses in recent times to help with customer acquisition, and offer the ROI advantage of having to pay only on a Sale or Lead.
However, managing an Affiliate Program is a lot more important than simply starting up a channel. It also depends on what are the goals set by the business on the Affiliate Channel. For instance, are you looking at short term gains or long term gains? Is knowing who your top publishers are, important? Would you have the resources to manage your own publisher base? Do you have the time to invest in nurturing the Affiliate Channel? These are some of the questions that need to be answered before a business decides on how they plan to start up their Affiliate Program.
This brings us to the two methods that are popularly used by businesses to manage their Affiliate Program.
It always feels nice to see Affiliates signing up for your program. It gives you the slight excitement of knowing that some of these guys you approve could have the potential to be your top performing Affiliate, and help you achieve your forecasted conversions. For some of the well known brands the no of Affiliate Sign Ups they receive in a day could go well into the few dozens, and for some of the newer brands it could be a significant number but relatively lower than the bigger brands.
In either case you’re happy and you go ahead and approve your Affiliates. After a while you start assessing the numbers. You start by looking at the No of Conversions & Leads, and you’re not very happy with the figures that your report is showing you for most of your Affiliates. You then compare those numbers with the no of clicks those Affiliates have delivered to your website; the click traffic might be astoundingly high, but the corresponding result isn’t appealing.
You then decide to export your approved Affiliate list for research, and then realize you don’t have the right types of Affiliates in your Program.
If you’re a regular reader of my Blog, a connection on LinkedIn, or interacted with me professionally, you may have noticed that I am a staunch supporter of Affiliate Marketing. Back while working at ResellerClub, I would derive immense happiness out of checking sales numbers at the start of the day. Seeing my Sales KPIs being met by my trusted Affiliate Team through great content drafted by them would delight me. It’s quite intriguing for me to see how this specific Online Marketing Channel proves to be an effective growth hack for a Startup trying to meet its pre-defined objectives.
Compare that with the efforts and costs that would get invested in SEO, SEM, or any other paid method, and it would be impressive to analyze the return to the spend. I am not saying that SEO & SEM should be ignored, you’ll be hurting your business if you do that given its independent benefits, I am simply suggesting that Affiliate Marketing is a Startup friendly way to look at Growth.
This brings us back to the importance of Affiliate Recruitment.
Your swanky Online Business is now live. You’re the new cool kid on the block that’s offering something unique in Clothing, Wedding Dresses, Travel, Mobile Covers, Superhero printed merchandise, non-conventional home décor and so on. You’ve worked very hard in setting up the business, and now you’re working equally hard in promoting the value it offers, and building awareness.
You (The Founder or Marketing Head) have heard and seen a lot of Startups resorting to launching an Affiliate Program. Knowing that Affiliate Marketing is performance oriented, which basically means you shell out Marketing Rupee only on results, you decide to set up an Affiliate Program for your business.
All that done, you see a barrage of Affiliates signing up for your program, which is translating into traffic, but you are still left unsatisfied with your conversions graph.
Sounds familiar? Poor Affiliate Recruitment could be impeding your growth.