Affiliate programs and JV partnerships are not just for individuals or small companies. There are benefits that larger, established businesses can also gain from them. If your company is looking for ways to increase their bottom line, this is a viable option that can yield really good results when done properly.
Every company has marketing goals that they want to reach. It is an integral part of having a successful business. Without goals, the business can be in danger of simply existing instead of thriving and flourishing. Your marketing goals should be realistic and push your boundaries a bit so they aren’t TOO easy to reach. Growth in a company comes from setting goals that challenge, not goals that are simple and easy. Social media enables companies to reach the marketing goals they have much faster due to the large visitor reach these venues provide.
If you have some kind of online presence, you’ve probably heard of Affiliate Marketing before. It is a marketing initiative that is widely used by a variety of businesses to promote their products and/or services online.
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” (entrepreneur.com).
Now more than ever, businesses have the opportunity to engage with customers and potential customers in much more effective ways. This is mostly in part to the world’s attention and focus on social media in its many forms. A company that doesn’t utilize this popular avenue for connecting with customers is missing out on a lot more than just sales. Customer retention and loyalty are two things that every company should strive for when utilizing social media.