Affiliate Marketing is one of the most effective ways to make more money
Marketing your eCommerce store is essential
You’ve taken a huge step and set up an online business or eCommerce store. Go you! You’ve started selling your product or service and you’re hopefully seeing some good traffic numbers.
But you know you can definitely do more to get more visitors, and to make more money.
Marketing your eCommerce business will bring more potential customers to your site; it can help you make more money. If you don’t implement some form of marketing, you’re doing yourself and your business a disservice. There are many ways you can start marketing your site; Google SEM advertising, Facebook campaigns, scheduled Twitter scheduled posts, writing content, digital ad banners, and so on.
Those all sound great, and they could definitely all become a part of your marketing mix, but you’re already super busy creating new products, or working with your clients for your online service. Or, it all sounds like a huge chore, and one more thing you have to worry about. Ughhh! How are you supposed to find time to do it all?!
Well, I have some exciting news for you…
You don’t have to do it all by yourself
At Easy Digital Downloads, we’ve implemented a marketing solution that literally pays for itself; it gets us more traffic, which leads to more sales, which makes us more money. In fact, you’ve probably already heard about it, but you may not have given it a chance yet.
It’s Affiliate Marketing. And it’s awesome.
Affiliate marketing is a cost-effective marketing strategy whereby you recruit like-minded individuals, or businesses aligned with your industry or values, to help promote your site. In turn, these people or companies are rewarded for their own marketing efforts if they refer a customer who goes on to purchase your product or service.
In this post, you’ll learn 6 key reasons why affiliate marketing is one of the most effective marketing techniques you can implement to help you make more money. Plus I’ll share the results we’ve seen ourselves for two of our affiliate programs – I guarantee you’ll be as surprised as we were!
But first, let’s take a quick look at what affiliate marketing is all about.
Here’s a ridiculously simple diagram that shows how affiliate marketing works
Here’s a quick breakdown:
- Your affiliate shares a referral link through their website, emails, social media, or adds it to a banner on their website (or one they share on other websites).
- A potential customer clicks on that affiliate’s link and is taken to your online store. The visitor browses through your site and decides they want to purchase your product or service. Woohoo! They purchase and become a customer on your site!
- Your affiliate is then awarded a commission for successfully referring the new customer to your site (this could be a percentage or flat rate of the final purchase total).
- Your affiliate continues to promote your site and products, and the cycle continues – you make more money, and they make more commission!
And that’s it! Almost seems too good to be true, right? I promise, this isn’t a dream! It’s an effective marketing solution that can help you make more money.
6 reasons why this low-risk marketing technique is one of the most effective ways to make more money
1. You only pay when a sale is made or a conversion is completed
You have nothing to lose; affiliate marketing is low risk. Affiliates are only awarded a commission when a purchase (or other conversion, such as a form submission) is completed by a customer. You can choose to pay them whenever you want, however you may prefer to pay them after your refund policy period; you can ensure the customer is happy with their purchase before you award the affiliate their owed commission. Pay nothing to your affiliates until you have been paid by your customer.
2. Your own marketing team (with no strings attached)
Affiliate marketing is an incredibly cost-effective marketing strategy, with low entry costs and huge potential for a significant increase in sales. You get a team of people working to promote your site for a small percentage of your sales. A no-strings-attached marketing team? Yes please!
3. Pinpoint where your traffic is coming from to help you optimize your site
You can track your affiliates’ efforts through their use of affiliate links and coupon codes. See where customers are coming from, which affiliates are driving traffic to your site, and find out which affiliates are generating more sales. You can use the data from affiliate visits and referrals to optimize your site based on converted visits. You’ll be helping your affiliates promote your site better, so they earn more commission for themselves, and make you more sales.
4. Your affiliates can help you rank higher in search results, so your customers can find you more easily
Affiliates can promote your store through their website, through blog posts, with email marketing, their social media accounts, and more (the possibilities are almost endless!). They can advertise your product or services with new content to provide value to their audience – you barely even have to lift a finger! More new content about your business makes your site more visible to search engines. Your SEO (Search Engine Optimization) will improve, and future customers will be able to find you easily.
5. Your affiliates can convert their highly engaged audience into your new customers
You recruit affiliates who believe in your product or service. When your affiliates create content for your business or brand, they are selling on your behalf to their loyal followers; their reputation is on the line. They’ll promote your website to their highly engaged audience, and you’ll get more relevant visitors to your site who are genuinely interested in your product or service. These visitors are more likely to successfully convert into new paying customers.
6. You can increase your number of sales and revenue
This one is pretty self explanatory! More relevant visitors, brought to your site by your affiliates = more sales and more money for you.
We’ve seen incredible results in only 2 years of affiliate marketing
The proof is in our pudding. We’ve been running our affiliate program for just two years, and it’s powered by our sister product – AffiliateWP. Over two years our affiliates have generated an average of 19.2% of our total revenue. 19% might sound pretty good, but let’s put an actual number to it.
One fifth of our total revenue in 2 years has come from affiliate marketing. Two hundred thousand dollars, that, without an affiliate program, we would never have seen.
Over at AffiliateWP, we also use AffiliateWP (of course). Since launching the plugin two years ago and starting an affiliate program, our affiliates have generated over 15% of all sales, and 20% of all revenue.
In dollars, that’s $121,730.
How much effort did we put into each of these affiliate programs? Not enough. All we did was be a little selective of who our affiliates were.
By setting up an affiliate program with a reliable system, and recruiting relevant affiliates, you too could successfully increase your revenue with affiliate marketing.
You want more money, right?
As you’ve seen above, an affiliate marketing program can help you increase your revenue and get more online exposure for your eCommerce website. Every day, thousands and thousands of store owners (including us) get more sales and make more money, thanks to our affiliates and their marketing efforts.
This is a legitimate marketing technique that is back and better than ever; and it’s gaining more and more traction every day. Affiliate marketing works for us, and it can absolutely work for you and your eCommerce store.
For a low entry cost, and paying your affiliates a small percentage of what you make (only when your customers purchase), what do you have to lose?
Other than making more money, of course.
If you already have an affiliate program, we’d love to hear what percentage of your revenue comes from affiliate-referred sales.
I’d love to invite you to check out AffiliateWP. An easy-to-use, reliable affiliate marketing plugin for WordPress.