Here are the basic categories:
Simply put, this is a win-win situation.
For years advertising has been built upon paying a publication a set rate for advertising. However, major digital companies changed the game. Google and Facebook implements a CPC model. In the industry this is known as Cost Per Click. Of course this has seen a sea-change shift to a high % of marketing spend moving away from traditional media and across to the digital space.
However, Affiliate Marketing goes one step further and is already rocking industries, and becoming the great equaliser for SME’s and marketing divisions alike. Affiliate Marketing operates on a CPA model or expanded, Cost Per Acquisition.
Check out this digram to see the process in action and below you can view our workshop for SME’s we ran on June of 2020.
If you were able to view the above video on “Affiliate Marketing for SME’s”, you will now have a very clear idea on how you can get started setting up and implementing your own affiliate marketing program. However, this is a step-by-step, process outlined below from start to finish.
Step 2: Set up the specifics of your program, including % of sales that you will give to your partners/ influencers. You may need to do some market research to see what others in the industry give
Step 3: Integrate your Affiliate Program to your website and create some captivating content that attracts influencers – This should be simple and fast to do however you can always outsource this work on gig-platforms like Fiverr
Step 4: Start reaching out to influencers and partners who you already have a relationship to see if they want to work with your program.
Another fantastic idea is to reach out to partners that your company works with. You have a range of stakeholders that already have a vested interest in your products or services, and they make amazing affiliates!
Step 5: Create tools such as images, banners, promotional discounts and other engaging content over time that your registered affiliates use. Remember, they are your sales force so you need to enable and incentivise them!
Over time its important to continually keep your Affiliate Program updated. Great communication and engagement are the keys to its success. So learn about your partners and see how else you can support them.
We will be brining you a FREE playbook soon with templated emails and tools that you can use to build your affiliates up. So keep an eye out for this here at www.affiliatemepro.com
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