How Should you Address Affiliate Marketing and Advertising?
Affiliate Marketing and advertising is a web based internet marketing practice. It could be described as earning revenue from third parties who have the capacity to highlight your information or adverts on their web-site.
Often in past times, affiliate marketing was seen as a ‘quick-win’. Seemingly little time or investment was required, the advice of many, was which you could add a few well-placed banners and buttons and the revenue will be rolling in.
Whilst this could have rung true in the early days, it’s no longer the case. Then again, the past 12 month has seen affiliate revenue increase by 9.2% taking the total value of on the internet sales created through this route to more than £8.1 billion, so it’s still a big opportunity growth area, you need to simply be smarter in your strategy. (Figures from performancein.com Affiliate Marketing Spend in UK)
How should you address affiliate marketing and advertising?
There are really two routes:
You can use an affiliate network this method is often used for recruiting and handling a large quantity of affiliates. The network will aid you to recruit, track, and manage affiliates. You will have to supply the network with the necessary creative, and liaise with the network to manage performance. However affiliate networks often help to make the approach less time consuming and more effective with their experience.
It is possible to recruit and deal with your own personal affiliates You may possibly choose to do this for ‘super- affiliates’ or those who you believe have the possibility, or who’re already performing particularly well. As you are able to adopt an extremely personalised strategy for co-marketing it also allows greater flexibility.
The greater use of incorporated technologies such as white labelling your merchandise for which affiliate will enhance performance and subsequent revenue produced by that partnership.
Recommendations for productive affiliate marketing and advertising…
You might choose to use one or both of the above routes as they each have their merits in generating additional revenue to your business. Guidelines for successful affiliate advertising and marketing include…
- Partner with complementary but not competing websites
- Ensure all inbound links are tracked and which you are clear on what is being measured
- Explore all professional avenues for partnerships, pay per sale and commitment programmes are two of by far the most popular and successful
- Offer different choices to your affiliates, this may be banners, buttons, or could be offering a white label option for a partner to use.
- Manage on-going dialogue between yourself and your partners, they could have a number of good ideas as to how, working alongside one another it is possible to enhance revenues
There are currently continual improvements; the avenues for affiliate advertising remain expanding. The growth in Social networking websites like Facebook has led to different opportunities and abilities to target your audience.
The cookie rules being implemented by browsers may well also change the requirements for affiliate marketing and advertising. The growth of the mobile arena has led to companies providing apps purely for mobile consumption.
Think you’re ready to supply mobile options to your affiliates? If not, you may want to consider the changing strategy you will have to take over the coming months.
The only certainty is that affiliate marketing and advertising will continue to change and evolve just as the online world is itself. However, you need to consider now, what technology you are going to use to suit these ever changing specifications.
30th October 2018
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