You must have heard about Affiliate Marketing while scrolling through digital platforms, but have you ever wondered how it works? Affiliate marketing is a marketing strategy in which a company compensates affiliates to promote the offerings. The digitalised world we live in today has opened many career doors for us! Affiliate marketing is one of them. Typically, an affiliate earns a commission each time someone purchases the coupon or link associated with their recommendation. It’s a win-win situation for both the company and the affiliate.
Affiliate marketing is a billion-dollar industry, and the number is expected to grow with time passing. Here’s why you should leverage Affiliate Marketing to grow your Business:
Boost Brand Awareness:
Every business aims to flourish in the digital world while engaging an untapped audience. Taking this goal in mind, Affiliates help brands drive website traffic and other business goals. As a result, they increase the brand’s awareness and reach. Since affiliates earn a commission from the company’s revenue, they are wholly invested in your success.
Reach Wider Audience:
Through a strategic tie-up, businesses can connect with the affiliates' audience and expand their brand reach. The most used medium through which affiliates drive traffic is social media sites such as Reddit, Facebook, Instagram and more. Moreover, by associating with an affiliate marketer that resonates with the brand, the traffic is from potential customers who find the products and services useful.
Improve Conversion Rates:
Tracking is one of the most vital areas of successful affiliate marketing. It helps you see the difference between your goals and actuals. By collecting data from affiliate marketing agencies, brands can gain insights into customer preferences and affiliate data. Analysing and interpreting the data can help the brand improve conversions by making changes to the website and offering better and more engaging visual creatives to potential customers.
Cost Effective:
Most marketing manoeuvres require paid ads with no conversion guarantees whatsoever. On the other hand, Affiliate marketing is performance-based and hence cost-effective. Affiliates are paid for closed sales and not for the number of clicks or impressions. Usually, brands set up the commission structure with their affiliate marketing agencies in advance.
Increase Rate of Investment:
For most of the marketing and PR strategies, it’s hard to determine your exact ROI. However, Affiliate marketing is one of the easiest and most trackable ways to advertise your brand. Moreover, it helps to gain influence and access to a highly targeted audience, likely to purchase from the brand. Every affiliate has a unique link or code. Through these codes, brands can easily track which affiliates are getting the desired results.
According to Statistics, the spends on affiliate marketing programs will grow upto $8.2 billion approximately this year. Leveraging this data, Digidarts, one of the best Affiliate Marketing Agencies in India, provides Affiliate Marketing Services to numerous brands.
For example, one of our leading unicorn clients, DealShare, is a social commerce giant. We ensured a higher percentage of delivery rates for the brand, close to 75-85%, despite fraudulent orders and refusals at the time of delivery. However, effective affiliate marketing strategies were integrated to scale the brand and boost brand awareness.
Digidarts is an award-winning digital marketing agency. Over the last 8-years, it has worked with apps like Amazon Prime Video, Ahaflix, Meesho, Groww and many more and has helped them achieve diversified digital goals. To help your brand build an ever-growing audience to boost sales and create brand awareness for a loyal customer base, connect with Digidarts and see your brand reach greater heights.
Also Read :-
