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Did you know?
Affiliate marketing trends for 2021 according to Hosting tribunal
- Affiliate marketing spending will grow up to 10% at least until 2022.
- In 2018 Affiliate Marketing was worth $12 billion, therefore the Affiliate market is growing rapidly since then.
- Since 2019 Affiliate accounts for 15% of all digital media revenue-generating at least as much as email marketing did before.
- Well-crafted affiliate programs can boost revenue by a staggering 30%.
What is Affiliate Marketing?
Affiliate marketing is a performance-based paid model. The aim of any affiliate is to achieve the objective previously agreed with the advertiser in order to receive a commission for the leads or sales generated. There are different payment models according to the advertiser’s objectives. This way, advertisers set a payout price for the action that affiliates need to accomplish.
Some aspects and features to include in an Affiliate strategy:
- Where affiliates will send the leads: Website, Landing Page, Pre Lander, Blog.
- Method of promotion: The advertising format and traffic source that the affiliate will use to reach the right audience with the products they will promote. There are many options to choose from such as: Push notifications, Native advertising, Social Media, Display, Video, Email marketing, etc.
- Tracking Tools: A software system that allows affiliates to track and store valuable data generated from their campaign, which will provide the data needed to optimize and boost the campaign’s performance.
- Spy Tools: A range of tools that allow affiliates to find out crucial information regarding the offer they are looking to promote, such as: what competitors are doing, most clicked landing, best converting creative, best geos-based on a campaign, and more.
5 Reasons your business should use Affiliate Marketing
REASON #1 – Affiliate marketing is performance-based
This means that affiliates only get paid when they perform the desired action previously agreed. This makes them become highly motivated towards achieving the largest amount of conversions.
REASON #2 – Grow Brand Awareness
Suitable for small or large companies, start-ups or established companies. Affiliate marketing allows them to grow their brand awareness by increasing traffic to their website. Increasing brand visibility and reputation, giving the possibility to scale up very quickly by acquiring new customers, thanks to the affiliate strategies implemented to attract the right audience.
REASON #3 – Easy tracking and optimization
Marketing has become one of the most important aspects for any company nowadays, which requires a lot of time spent tracking and optimizing results. Analysis has become a crucial part of the digital marketing process. Affiliate marketing empowers the importance of data and provides digital tools to allow any marketer to fully track, analyze, measure, and optimize their results to increase revenues.
REASON #4 – Access to foreign markets
If you are considering selling your brand worldwide, affiliate marketing is a profitable and effective approach to accessing the global marketplace. Professional affiliates based abroad can use their local know-how to strategically sell your products. In addition, It’s also a low-risk way to find out if your brand would be successful in other countries. In this case, joining an international affiliate network with experience in the sector and with a good level of international exposure and reputation will provide you with the opportunity to open new markets.
REASON #5 – Affiliate marketing is cost-effective
Affiliate marketing can be extremely profitable since advertisers only pay for the generated conversions from the affiliates. This way, there is no need to waste money on ads that do not have a proven return on investment.
Paying for performance rather than clicks ensures that affiliate marketing is a low-risk way of marketing. Therefore, you won’t invest your marketing budget into creating leads that need to be nurtured through their buyer’s cycle. Instead, you will create direct customers with whom you can build up relationships as well as make additional upsells at the right time throughout their customer journey.
Are you looking for the most suitable Affiliate program for your expertise and background?
We can help you! TORO Advertising has been honored once again in the annual mThink Blue Book Survey. This survey is filled by advertisers, affiliates, and publishers within the world-wide performance marketing community.
Want to be a part of one of the best CPA networks in the world? Sign up here and become an affiliate of TORO Advertising!