This article appeared first on the Drum and can be read in its original format there. https://www.thedrum.com/opinion/2020/04/02/affiliate-marketing-its-best-when-times-are-bad
I’ve summarised a few of the key points from this article for your review below:
Affiliates seek out customers where nobody else thinks to look for them
The beauty about being an affiliate is that you don’t need to stick to any one niche. Once you have mastered the skill of acquiring new customers you can pretty much advertise any product or service to them depending on what they are interested in. Understanding the niches is what drives affiliate marketing as a key channel in the digital mix. Affiliates know where and how to reach customers in far reaching places online. Everywhere.
While there are certain sectors that are unfortunately taking a hit just now such as travel, tourism and entertainment, the rest of the market seems buoyant. Affiliates are following these trends. They sniff out customers and can help you reach them – on a pay per performance basis. This is great news especially when budgets are tight and a recession is looming. Affiliates will be tuning into these trends right now and looking for programmes that offer incentives on items that are being bought on mass. Affiliate managers need to understand this – and position their program marketing messages and offers accordingly
You’re paying a commission for a sale, no upfront costs for your budget
Affiliate marketing is all about performance. The top sales generators get the most personal account management and better deals too. For brands it’s important to diversify now from being so reliant on top traffic generators. You want to go find the riches in the niches. To do this you need to be working with a lot of affiliates and switching up your old tactics to drive new customers to your site. The beauty of it is that you’ll be able to get the brand exposure without paying anything upfront. During these turbulent times you need to be seen – everywhere.
Affiliates can help you do it cost effectively because the remuneration model is paid for on delivery.
Affiliates Marketing is trackable and transparent
One of the biggest advantages of affiliate marketing in that there is transparency in tracking customers coming into your website and where they have come from. Traffic can be gained from multiple sources so using affiliates to leverage your own direct spend is a very good idea right now. Affiliates can pivot a lot faster than you so make sure you use them to access the niches you can’t get to right now. Use your affiliates to access brand reach and put you in front of more customers.
Data and insight is critical to any online business.
Use affiliates to listen to your audience reactions , wants , needs and react to them – fast. This means you can constantly improve your advertising copy, your campaign targeting and your ROI on budget to maximize your marketing spend .
Affiliate marketing is a clever way to maximise your resources and offers your business a risk averse opportunity to leverage your brand and budget when the going gets tough. We are in an ever-evolving world, where we need to be able to adapt digital strategy regularly. The coronavirus has been a huge reminder for us to rethink the way we look at affiliate marketing as part of our digital marketing mix.