Here are the top 5 greatest advantages of affiliate marketing that will help you understand the real benefits as well as build a successful affiliate marketing for your Shopify business.
Affiliate marketing is known as an online sales strategy where merchants can push up their profit margin via the global affiliate network. More specifically, this marketing campaign allows products/services to be approached to target audiences through blog content, social media channels, or websites of the affiliates. The affiliates earn a commission each time when a customer makes a purchase via the unique link or coupon associated with their recommendation.
5 Greatest Advantages of Affiliate Marketing
If you are running an online store, affiliate marketing is a great option for you to boost your sales and your reputation. If you are having great products in your Shopify store, and you feel ready to reach more customers, it is time to consider this marketing strategy to work with. It is important to sell quality products and make your store be completed well before you try to reach more potential buyers with a half-ready business. Find products your target audience needs on Syncee Marketplace to fill your store with or to broaden your product range.
1. Make Extra Income
The main advantage of affiliate marketing is that the income is entirely performance-based. This is because affiliates are only paid a commission when a purchase has been successful. That means if the affiliates have an ineffective campaign, it won’t affect your budget.
The affiliates understand that driving huge traffic of potential customers will help to increase sales conversion. For this reason, they will spend much effort to build effective social platforms, promotion or boosting posts of your products in a better way to attract customers. The more efficiently they work, the more commission they generate, and the more sales you earn.
In addition, by using affiliate marketing alongside other forms of marketing, you are generating different income sources. In fact, different affiliates will provide a variety of advertising techniques, such as email, Facebook advertising, etc. For this reason, your Shopify business never relies on one form of marketing.
Furthermore, with the support of affiliate marketing applications, Shopify merchants can optimize their sales performance. UpPromote: Affiliate Marketing app by Secomapp is a potential example. Merchants can use the app to generate different programs with a competitive commission to encourage affiliate productivity. That is always recommended and gives value to both merchants and affiliates.
Another instance, if you want to drive specific products which have low profit, you can use the app to set the best special commission rule such as offering a higher commission rate for each specific product. That will create affiliate motivation to work harder.
2. Expand Your Audience
With the development of technology, you can easily find affiliates in different markets that exist today. The plus of affiliate marketing is to expand out into new markets that you haven’t explored, giving your brand a much stronger online presence. By working with affiliates, you not only get your products to reach new audiences but also create an awareness that could have the potential to extend beyond a single-product promotion.
However, “Too much of anything isn’t good for anyone”. If your Shopify business doesn’t mind a suitable affiliate recruitment strategy, your time and resources will be wasted. Therefore, to approach qualified affiliates, you can use Marketplace where includes top Shopify offers that are open to any affiliate to join and apply. The more information like category or program details are provided on Marketplace, the more possibility it is that affiliates are interested in your business.
3. Promote Business Brand Name
By partnering with trusted ambassadors, you can boost your reputation significantly. In fact, in the research phase of an online purchase, customers will spend their priority on retailers they are familiar with. They have a certain level of trust in websites they frequently visit for finding product recommendations. As a result, when these reliable partners champion your products, that will further solidify consumer confidence in your Shopify business.
Research reported that 92% of customers trust the recommendations of people, companies, or influencers they know. For this reason, working directly with affiliate marketers who then promote your products to their established audience, brings more opportunities and more direct sales.
In addition, the high coverage of your brand across reputable media platforms will help your brand become stronger. The more websites your products have shown the more people will recognize your brand name.
4. Low Investment But High Cost Effective
In fact, affiliate marketing does not need a huge amount to build a customer service team or running advertising. This campaign helps to mitigate any risks that drive traffic or run social ads with little or no result for your Shopify business, while also ensuring that merchants achieve what they pay for.
Furthermore, using Marketplace to recruit affiliates in new markets is an easy way to branch out your reputation into these markets without generating the cost for an entire marketing campaign. In fact, whereas a poor marketing campaign that sends you low-quality results will still need to be paid for, even if you make no sales. However, affiliate marketing ensures your marketing is cost-effective and helps to reduce the risk of “leaking out” money for an uncertain market.
5. Scale Successfully Your Sales Channels
Building your own qualified affiliate network will allow you to scale sales channels faster. You can recruit new affiliates and use UpPromote: Affiliate Marketing app by Secomapp to start affiliate campaigns. The more sites link to your pages, the more potential customers you have to convert sales. That will help to increase customer’s awareness about your brand as well. More people will search your products and navigate to your pages.
With a higher level of referral traffic from affiliates, you can expect a boost to your direct and organic traffic as well. In this case, to ensure the sales performance with the increase of affiliates, you can use the app to track frequently other referrals, or affiliate performance.
In addition, if your products can be marketed worldwide, affiliate marketing is a low-risk and cost-effective method to approach the global market. With the huge number of international affiliates, they can support you to market your products strategically and provide widely your products to international audiences.
In conclusion, affiliate marketing will be an effective method with low-risk investment to help expand effectively your marketing strategy. For the reasons listed above, affiliate marketing is almost always worth the investment and can push your Shopify business into new heights.
Want to Extend Your Product Range?
Check Sincero Marketplace to find millions of high-profit products and fill your Shopify store with goods easily. It can help boost your sales to have more products in your store, or products from local suppliers. In Syncee’s huge directory you can find partners for your business wherever you are, US/CA/EU/UK/AU or other.