The Benefits of an Affiliate Program
When a company participates in another company’s affiliate program, this tells the customers that the company supports the one they are an affiliate for. Because of this endorsement, it is very important that a company wisely choose the companies, products, and services to become affiliates of.
Affiliating for a less than stellar product or service can reflect badly on your company so choose with care and do research first.
- Provides Additional Revenue – If your business is looking for ways to increase the bottom line and bring in more revenue, being an affiliate is one way this can be accomplished. Because your business is the one promoting this other product, service or company, it is imperative that you choose excellent, high quality products and services to affiliate for. Choosing the wrong one can make your business take a hit and that is not something you want to do.
- Adds to Your Company’s Offerings – Having great affiliate products to offer your existing customers means that you have expanded what they can get from you and that means more revenue for your business. If you’ve built a good relationship with your customer base, they will trust your judgment and endorsement and more than likely purchase that product because you suggested it.
- You Can Set Your Own Marketing and Income Goals – When a company chooses to become an affiliate of another product or company, it does not mean they become partners with that company, per se. They can still set their own marketing goals and income goals related to their chosen affiliate products and services. This can lead to increased productivity in the workplace and even add to your company’s incentives for your own employees.
Dos and Don’ts When Becoming an Affiliate
Once you’ve decided to add affiliating for another product or service to your business’s income streams, there are a few things to remember that will make this additional means of increasing your bottom line a great experience for your company.
- Take Some Time to Find the Right Product – The product or products you decide to become an affiliate for need to be those that you will be proud to have your company name attached to. Do the proper research on the product, the company, and most importantly, try the product out yourself. When you actually have the product in your hand, even if it is a digital product, you will know just what you are marketing and promoting and it will give your affiliate marketing efforts total credibility as well.
- Pick and Choose What You Become an Affiliate For – One of the things you will be doing is sharing your affiliate products with your own customers and email lists. You don’t want to have a new product every other day. You will only succeed in irritating your customers and losing credibility, as they will think you are always pushing the next best thing.
Continue to add value to your customers by introducing your affiliate products once in a while, not constantly. Give them the same excellent information you always have and when you DO recommend an affiliate product to them, their response rate will be very favorable.
- Look For Affiliate Products That Enhance YOUR Product or Service – Ideally you will look for affiliate products that enhance your own products or services in some way. Whether the connection is direct or indirect, having it be a supporting product that is relevant to what you provide encourages customer trust in both your product and the affiliate product you are promoting.
If you can’t find something that is closely related in some way, look for the indirect connections and go with those. Don’t affiliate for companies that sell the same product or service you do. Affiliating is not about competing with your own business, it’s about enhancing it.
- Make Sure the Company is Reputable – It does not benefit your company in any way to affiliate for a product or service when the company doesn’t support their affiliates…or pay them. The whole reason you added affiliating to your business income streams is to make money. There are a lot of scams out there, so ensuring that the companies you affiliate for are legitimate and good to their affiliates protects your company’s name and its time.
These are just a few of the many benefits and tips to being an affiliate for another product or service or entering a JV partnership. The main things to take away from this are that both can provide excellent revenue streams that your company did not have before, which will increase your bottom line without large amounts of expense on your company’s part.
Never jump into a JV partnership or an affiliate program without doing your research. It’s your company’s name out there as well and you want the choices you make to enhance and increase your own company’s standing with your existing customers and the new customers you acquire through these avenues as well.
It sounds simple, but there are many factors involved in creating a good marketing campaign. You want your marketing campaign to be exciting and generate positive actions on the part of your target audience. Below we’ve outlined several points that go into launching a successful marketing campaign, that will make your business or company stand out from the competition.
Research Before You Begin
The very first step that needs to be done before you launch your business to the world is to do plenty of research. When you fail to learn about the industry of the niche you’re in, you’re missing some crucial pieces to the puzzle. Take a look at the successful campaigns that are being noticed, especially if they seem to have gone viral.
Don’t just look at one, find several and see what the common denominator is. Even if the campaigns are different, there will be a common thread among them that, with research and digging, you’ll be able to uncover. Compare the successful campaigns to the ones that seem to fall flat and see what’s missing from the unsuccessful ones.
Doing research up front is very important because it can prevent you from making some of the common mistakes that many business owners make with their campaigns. Your goal is to create a campaign that gets their attention and gets them to do whatever action you are asking of them: open the email, click the link, sign up for the list and yes, ultimately, purchase the product or service.
Who is Your Target Audience?
One of the biggest mistakes a business makes when creating marketing campaigns is to not have a good grasp of who their target audience is. Your marketing needs to “speak” to the people who are interested in and looking for the services and products you offer. If you’re random about the people you’re marketing to, you stand to just spin your wheels and not make good use of your marketing dollars.
It’s important to know certain things about your audience as well, such as where they are spending most of their time online and how to reach them in effective ways that encourage interaction. When you know more about them and what they’re looking for, you can better predict the kinds or marketing campaigns that will get them to act in a positive way. You want your campaigns to really resonate with your audience. This makes them feel a kinship with your business that leads to customer loyalty.
The Importance of a Plan
Winging it when it comes to marketing campaigns is never a good idea and can cost you time and money. Without a plan, your campaign is very likely to just fade away soon after you launch. With a strategic plan in place, your business won’t be a flash in the pan and will have longevity when it comes to reaching your target audience, including new customers.
So what goes into a marketing campaign plan? You want to include things like:
- A promotion or content calendar
- Information about your audience
- Your goals for the business
- Email templates for staying in contact with your list
- Your budget
- A list of people who can assist in getting the word out about you
- Tools you plan to use during the launch (venues, sites, etc.)
- A breakdown of the different phases:
- Post launch
Have your plan in place before you launch and things will go much smoother and more successfully as well.
What Method Do You Want to Use?
There are many different ways that you can get the word out about your business and build a brand that people recognize. You have several methods to choose from, all of which are good in their own right. These methods include:
- Social Media
- Email Marketing
These are just a few. Most marketing campaigns will include a combination of these methods so the business is seen more than just in one spot or type of media. The more places consumers see you and your business brand, the more that brand recognition will grow.
Make sure that what you’re putting out there for your customers and potential customers is of value. The quality of your content is crucial to the impression consumers get and keep about your business, so make sure that it’s as positive and beneficial to them as possible.
Don’t Rush Things
There’s a fine line between giving yourself too much time when planning a marketing campaign launch, and not giving yourself enough time to get the tasks done and be ready. A poorly timed launch can create chaos and not have the desired results. You need time to:
- Adjust to unknown factors
- Evaluate how things are going
- Readjust anything that isn’t working
- Get the word out
If you rush too much and haven’t had time to reach out to some people who can be crucial in helping get the word out about your business products or services, the whole campaign could be for nothing. You never want to waste marketing dollars intentionally, and not giving yourself enough time to do the required steps is ultimately wasting dollars because it won’t be utilized in the best way.
You will need to allow time for a few things. These activities include:
- Reaching out to any customers you already have before your campaign goes live to ask for their help with word of mouth advertising.
- Contacting anyone who would be willing to help promote your campaign.
- Following up with anyone who agreed to help get the word out about you and making sure they have the information they need.
- Creating a promotion calendar that includes those people who are on board with helping you.
Don’t give yourself so much time that there is no urgency, but making yourself rush is not the way to go either. Decide how much time it could take to do certain tasks, allowing for time for others to respond to your inquiries and allow just a shade more time than you think it will take.
Evaluating and Making Changes
Once you launch, you’ll no doubt, be watching what happens and the responses you get…or don’t get. If your marketing campaign launch doesn’t go the way you were expecting, it’s time to evaluate what steps you took and see what can be tweaked and even in some cases, flat out changed. You should never just create a marketing campaign, hit launch and then forget it. The best campaigns are the ones you keep working, tweaking and improving.
A marketing campaign is a crucial part of getting your business name, products and/or services in front of the people looking for it. Take the time to set it up correctly, launch it with the proper assistance and then maintain and make adjustments to it as needed, and you could become one of the great and successful marketing campaign stories out there that last a long time.
In short, it is “a way for a company to sell its products by signing up individuals or companies (“affiliates”) who market the company’s products for a commission”