You might have heard a lot of affiliate programs. You’ve observed that many businesses in your niche have theirs. But what’s the real benefit in setting up one? This article will show you what your business stands to gain with an effective affiliate program.
1. No Customer Acquisition Risks
What would you be able to do in your business if you knew you had no customer acquisition risks (That is, if you are sure that your advertising dollars are spent only on visitors who end up buying your product)? That’s what you get with an effective affiliate program (the pay-per-sale model especially).
It’s a risk-free way to grow any business. They don’t buy, you don’t pay. You pay them from what they’ve already brought in. There’s NO risk whatsoever here. The good thing is that you can divert your resources and efforts to other parts of your business since you know your marketing is well covered.
2. Increased Brand Recognition For Free
Your affiliates will keep promoting your product/service and business on their sites and other properties even though you only pay for visitors who convert to buyers (or whatever your predetermined action is). The more people see and read about your business, the more it registers in their subconscious. Your brand is being etched into their minds without you having to pay for it. Remember, you only pay when they deliver a predetermined response.
3. You Have Partners Who Will Rise In Your Defence
The web has evolved a lot from what it used to be just a decade ago. There are many conversations going on about products in your niche. It’s humanly impossible to chip in a word or two about yours every where it is being discussed. However, with a strong army of affiliates your reach is extended. These people will rise in your defence if someone tries to de-market your product. And because they are NOT seen as the product owners or creators, their views often carry a heavier weight. Furthermore, people in the niche respect their opinions. After all, they have the most influential blogs and sites within your niche.
4. A Trusted Group Of Beta Testers
How do you know if a product meets all the requirements of your target market? You simply ask them. However, you need knowledgeable users if you want inputs that will help you release a product or service that will stand the test of time. Most powerful affiliates have web properties where they interact with people in the niche (And that’s apart from the fact that they are very knowledgeable themselves). So what happens if you need suggestions for an upgrade or a new product? You have a ready pool of trusted beta testers. Remember, they now have a stake in your business and would like to do everything to keep it profitable (NO affiliate likes to change links on articles they published two years ago).
5. A Strong Launching Platform For New Products
Do you have a great product idea? Just go ahead and develop it. You don’t need to bother yourself about promoting and marketing it as long as it is in the same or related niche. You already have an army of affiliates who will help create a pre-launch fever and help you rake in as many sales as possible within your first week.
In Conclusion…
You can see the great possibilities that an affiliate program will unlock for your business. However, the problem for you is that you don’t know how to go about setting up one. That shouldn’t be a problem: Just ask the company handling your online marketing and they’ll tell you what to do.
