1. Choose the Right Affiliates
Affiliate marketing allows you to leverage the power of influence to get people to buy from you.
If you want to influence consumers’ buying decisions, you should choose to work with someone who has an engaged audience that trusts them.
When choosing an affiliate to help you with your product promotions, check whether or not:
- They have a good rapport with their audience
- Their audience might be interested in your products or brand
- They have a good following, site ranking, views, engagement, and authority
All of this is important to ensure that your efforts aren’t in vain.
For instance, if you are a food company, choosing a coupon site that offers discounts on travel tickets wouldn’t make any sense.
Similarly, a blogger who receives only 10 unique visitors a day can’t help you grow your sales funnel.
So you should choose your affiliates wisely to gain maximum conversions with minimum effort.
2. Attract Sales with Coupons, Deals, and Promotions
Everybody loves a great deal.
Leveraging coupons and deals is one of the best affiliate marketing strategies to boost sales. That’s because many consumers love the savings power of coupons. They often search for discount vouchers on various coupon and deals sites before shopping for any product.
Coupons work best in markets that are highly competitive such as food, beauty, travel, or gadgets. However, you need to manage them well as an extravagant discount offer might simply eat into your margins.
To make the most out of your coupon affiliate marketing strategies, choose working with a few, high-quality sites. See where their visitors come from. Do they highly rely on search traffic or do they have a user base of their own?
You should also check the authenticity of their site. Try using their coupon codes for a few popular brands. If they don’t work, it’s a red flag.
3. Leverage the Power of Niche Influencers
Influencer marketing has become much more than a buzzword in recent years. And brands are continuously learning to tap into this source of referrals effectively.
Many brands choose to work with a large number of social influencers and bloggers in their niches. Influencers have more authentic relationships with their followers. They can effectively get their audience to trust your brand and convince them to use your products or services.
Influencers may not send you huge amounts of traffic compared to coupon sites. But the audience they send is targeted and more likely to be interested in your product.
Thus, you can boost your conversion rates with effective affiliate partnerships with influencers.
While most influencers expect monetary compensation, many agree to work for free products or a portion of each sale they drive as well.
Nordstrom Rack, a US fashion retailer, gifted their products to a number of influencers. The influencers then featured those products in their blog posts and social media posts effectively. These series of posts helped them reach 500,000 potential customers and increase sales in a cost-effective way.
4. Build a Robust Affiliate Network
Instead of tapping into various affiliate networks, build your own. It can be really difficult to recruit your first few affiliates. But expanding your affiliate network is comparatively easier.
To attract affiliates, you should follow a clear, to-the-point approach. Provide your potential affiliates with all of the necessary information such as what to do, how it works, and the commission you’ll pay.
You should also encourage your affiliates to recruit more sub-affiliates. You can offer them a small commission of the sales that their sub-affiliates drive. That can be quite encouraging.
You should always take some time to appreciate and reward your most loyal affiliates. Track their performance, and analyze the lifetime value of the customers they bring to your brand.
You can reward them with a slightly higher commission rate in the future. You can also offer them benefits such as buying any product at the best price or one free delivery every month.
These affiliate marketing strategies can help you build a strong network and encourage affiliates to give their best shots.
Amazon Associates is one of the largest and the most successful online affiliate programs in the world. They have a network of over 900,000 affiliates who proudly promote various products listed on the ecommerce site.