Affiliate marketing: What is it and what are the benefits?  |  Digital Values ​​|  Open the microphone

Affiliate marketing: What is it and what are the benefits? | Digital Values ​​| Open the microphone

Affiliate marketing is a low-risk form of advertising that companies and businesses use to promote their products or services. It is a purely performance-based process that relies entirely on the promotion efforts of the affiliate. Affiliate product or service promotions may include mentions on social media, reviews, blogs, vlogs, and podcasts, but the affiliate only receives a commission when a purchase is made through their personal link or referral.

According to Statista, the UK invested £627m in affiliate marketing in 2020, up from £569m the previous year. Smartphone spending accounts for almost 40% of total spending.

With such a massive increase in just one year, it’s no surprise that more companies are taking an interest in affiliate marketing and its benefits. Read on to see how affiliate marketing can benefit your business.

High ROI

Choosing the right audience is vital when running a campaign. This is because your business has a lot to consider about the person who will be interested in your product or service. Do you know the average age of your audience? Do you know their interests and income?

One of the main reasons affiliate marketing is so simple is because the affiliate you will probably choose has the most perfectly tailored audience ready to impress. By directing your marketing through an affiliate that has direct links to your ideal audience, you can reach a highly cultured group of people who are likely to convert.

Flexible strategy

Even if you don’t want to spend money, you can give affiliate marketing a shot. You can start with very little and scale your budget as the strategy proves its value.

Affiliate marketing offers great flexibility in terms of price and affiliate selection. There are countless affiliates across all industry sectors, which means you won’t be disappointed. Also, depending on your membership, there is no limit to creativity, especially if you find someone who is passionate and has a great following.

Startup costs are low

With affiliate programs, you don’t need to have an ad team or buy ad space. This is because your professional partners will generate marketing ideas, create content and do the advertising for you.

The only initial effort will be to choose the affiliates you want your brand to collaborate with. Once you have decided on the right person or persons, your affiliates will be interested in advertising images and decide on the most effective ways to deliver your products or services to the target audience of the business.

Low risk form of marketing

Since affiliate marketing is a low-cost advertising method, it means it’s a truly low-risk way to promote your brand. Because of the way affiliate marketing works, it’s perfect for low or tight business budgets because the only payment is when your affiliate generates a conversion.

The average commission for an affiliate is between 5-30%. The amount of commission you are happy with leaving will be a determining factor for the affiliate you choose at the selection stage.

Puts your brand in front of your target audience

To ensure your affiliate is perfect for your business, do your research if you want it to be successful. Hand-picking affiliates means you can use your best judgment on who has the audience most likely to resonate with your brand.

By choosing the right affiliate, promotions of your products and services will make their target audience feel less like a hard sell, which means they are more likely to engage.

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At Digital Ethos, we are as committed to meeting your company goals as you are. Every campaign we develop together focuses on transformational growth, and we’re constantly looking for innovative ways to outperform your existing campaigns. Would you like to start? Contact our expert team today!

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