There are so many options available for small businesses to market their products and services. How can you decide which ones are the most profitable?
Often, the answer is that many different marketing strategies used in conjunction with each other are the best solution to maximizing time and resources and increasing profits. These strategies may include email, social media, SEO, PPC, and more.
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You’ve likely heard of these strategies and their benefits, but there’s another strategy that can also help you avoid up-front costs and decrease risk while increasing sales: affiliate marketing. Have you ever considered this as part of your marketing arsenal? If not, you could be leaving a lot of money on the table.
In this post, we’re going to cover:
>What affiliate marketing is.The benefits of affiliate marketing for small businesses.How to set up an affiliate program for your small business.Tips for finding affiliates.
What is affiliate marketing?
When a company or individual promotes someone else’s products, they are participating in affiliate marketing. Affiliate marketing aims at generating revenue by promoting third-party products and services.
If a customer purchases through an affiliate link, the affiliate earns a commission. Affiliates are akin to salespeople for the company whose offerings they promote.
The affiliate model is based on revenue sharing. As a small business, you offer a financial incentive to others to promote and sell for you.
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Affiliate marketing is a performance-based marketing method that has proved hugely successful among SaaS business models, subscription-based services, and the product review sector. For a broad range of industries, it is a risk-free way to improve traffic, increase brand awareness, and generate more sales.
Statista projects that by 2022, companies will spend $8.2 billion on affiliate marketing. Are you ready to tap into this billion-dollar industry?
What are the benefits of affiliate marketing to small businesses?
Small businesses often have limited resources and budgets. Sometimes they do not even have a dedicated marketing team to promote their business. Affiliate marketing offers a cost-effective and efficient way to drive more traffic to your business and increase profits. However, while having a terrific
By: Guest Author
Title: 6 Reasons to Start an Affiliate Marketing Program for Your Small Business (+ How to Do It)
Sourced From: www.wordstream.com/blog/ws/2021/04/16/affiliate-marketing-small-business
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