Affiliate marketing as a concept has seen a large amount of growth in the recent past. The concept of recruiting affiliates to market for their products is something that has caught the fancy of online merchants to a large extent. And there is adequate reason for why online merchants prefer to use affiliate marketers rather than take on the task of marketing their sites on their own. Here are some of the advantages of choosing to have an affiliate network.
- Recession proof – Affiliate marketing is considered to be a strategy that is recession proof. With marketing costs that have been outsourced and compensation of the affiliates purely on the basis of performance and sale, there is no need to cut costs for marketing efforts when and if recession hits.
- Low cost per acquisition – The genesis of affiliate marketing has basis in the growing cost of acquisition of a customer. With mushrooming websites, banner ads and online search engine optimization were proving to be too expensive for online merchants. Today the cost of acquisition of a customer through an affiliate program is as low as $15 as an approximate cost of $30 per customer based on banner ads.
- Payment on sales only – The current model of pay per sale ensures that there is no fraud involved in the manner in which affiliates send over customers to the merchant site. While affiliates can potentially create click throughs that are not genuine, the compensation based on a proportion of sales ensures that the merchant interests are protected.
- Wider reach – Recruiting affiliates is not a difficult task. In fact there are many merchants that approve affiliate applications automatically since they have a standard training module that they share with all affiliates and therefore they there is no extra cost of acquiring affiliates. However, a large number of affiliates working for your site can ensure that word about your products and services reaches a wider audience, something that a merchant cannot possibly dream of doing alone.
- Reduced marketing costs – With the marketing outsourced to a fleet of affiliates, the costs of marketing for the merchant reduce significantly. Statistics show that if a merchant increases the number of affiliates by 20 percent, they can reduce the marketing spends by approximately 10 percent on an annual basis.
- Better focus on strategic aspects – With the day to day marketing efforts left to the affiliates, the brand team at the merchant’s office has far more time to concentrate on strategic matters to help grow the website and the brand further. Aspects such as the new products to launch, additional product lines and the like can be delved into and implemented.
- Leave it to the specialists – Affiliate marketers are far more adept at customer conversions given the fact that they specialize in the specific area rather than conversions that happen otherwise. They are aware of the kind of information that the customers are looking for, whether it is brand comparisons, reviews or product descriptions. Surprisingly, a study found that customers that logged into the merchant site directly had a lower rate of conversion than those that came in through affiliate sites.
Affiliate marketing is not only beneficial for online merchants. It is a phenomenon that is a win-win situation and therefore has great appeal. The affiliates do not need to invest in inventory or worry about launch failures. They can also operate from any location that they wish to. All in all, affiliate marketing is a concept that seems like it is here to stay!
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