By Norberto Mercado
Your company may have an amazing product, a detailed marketing plan, and the perfect team to keep things running behind the scenes, but unless you’ve got regular and loyal customers, you won’t last long in the business world.
Customers are the number one factor that can make or break your business. Look at a successful company like Amazon. According to Geekwire, the ecommerce behemoth has roughly 244 million customers, and that's a big reason why Amazon regularly beats its competition on the sales front.
Related: Really Make Money With Affiliate Marketing
Ebay is another good example of a company that relies on its customers. The online auction site facilitates interactions between sellers and buyers and it’s got to keep a steady stream of new and returning customers to maintain its income.
If you’re a business owner looking to attract more customers, increase your bottom line, and thrive in a constantly shifting business environment, then affiliate marketing can help you achieve your goals.
If you own your own business, you probably know that bringing in all the customers you need to stay afloat can be a sizable challenge. Most marketing efforts are well intentioned, but they're just not as effective or affordable as you’d like them to be. The cost of advertising online can add up quickly, and your efforts to promote your business on social media don’t always reach as many people as you’d like.
And of course, there are no guarantees: even if your ads and posts are seen by many people, that passive viewing may not translate into sales. However, affiliate marketing efforts are highly effective for many companies because they outsource a significant portion of their product promotion, and the upfront costs are minimal.
How Affiliate Marketing Works
Affiliate marketing is a fairly simple and old concept that’s been updated for ecommerce. As a business owner, you partner with other website owners, whether they’re businesses or just individuals, to help educate people about the usefulness and desirability of your product.
Perhaps these website owners write something about one of your items, or maybe they run a photo of a product, or maybe they just provide a link to your store or landing page. Then, when one of their site’s visitors clicks on the content related to your company, he or she is directed to your site. If a purchase is made, the business gets a small commission fee. You get new customers checking out your wares and if those customers buy nothing, you don’t pay anything.
make money, affiliate marketing
Ultimately, it’s a win-win situation for both you and your affiliate marketer. They get a steady stream of extra cash, while you get to reach new audiences and potentially turn them into customers. Plus, you’re not on the hook financially unless you actually make money from a purchase.
How to Get Started? There are two main ways for your business to begin an affiliate marketing program. The first is to create your own affiliate program. This would invite other website owners to become an affiliate, and offer a structured compensation program based on a commission of sales that they send your way. Some companies that bring in many affiliates may choose to hire an affiliate program manager to keep everything organized and working smoothly.
Related: Want to Really Make Money From Home Online?
A second approach is to join an already existing affiliate network. This is usually an ideal solution for smaller businesses who don't have the wherewithal or desire to host their own affiliate program. There are many to choose from, including ClickBank, Rakuten, ShareaSale, and others.
Affiliate Marketing Can Help Your Business Thrive
It’s true: your company can really make money with affiliate marketing! It’s a simple and low cost way to bring in new customers and entice them to buy your products. And, if you treat those customers well and give them a positive retail experience, you’ll earn their loyalty and their business for years to come. If your business isn’t using affiliate marketing, there’s no time like the present to get on board! It could mean a big uptick in customers — and in income — for your company.
About Norberto Mercado
Online Entrepreneur, Content Marketing Expert And Developer Of Online Business.