We all keep reading about different forms of marketing these days, and the internet has become an inseparable part of all discussions related to it. Owing to the internet’s utter dominance, we now have entirely different forms of marketing, namely online marketing, pay per click marketing and affiliate marketing, amongst others. Here we talk about affiliate marketing, which happens to be the least-talked-of-all- forms of internet marketing.
Digital marketing has various branches, and affiliate marketing is one of them. There are a number of marketers who have little or no idea about this highly dynamic field, and a lack of awareness almost always leads to some misconceptions arising from time to time.
Therefore, it doesn’t come as surprise that there are a number of myths surrounding affiliate marketing, which can cause businesses to let go of a tremendous business opportunity. It goes without saying that if you have a better understanding of some of these myths it will help you to make correct decisions for the better future of your business.
Whether you are heading the marketing strategy of your 50 employee strong organization, or a Fortune 100 company that has a headcount of more than 10,000, having a solid affiliate program will help you open up a previously unrealized revenue stream without much hassle.
Here are some myths that you need to stay clear of while setting up your affiliate marketing strategy:
It’s Effortless and Quick to Manage Affiliate Campaigns
Some marketers start their marketing campaign on the wrong foot by taking affiliate marketing lightly and expecting too much too early. On the contrary, there’s a lot of hard work involved in planning a successful affiliate marketing program.
The tough competition will always keep you on your heels, forcing you to come up with innovative strategies. Besides, the money is not just going to start pouring in right away. While you may presume that all you need to do is set up a website and chose your affiliate partners, the reality is a bit harsher.
Thus, perseverance is the key. The right steps that you should take include:
- Involving the right partners
- Updating content regularly to keep things fresh
- Seeking better and mutually benefitting partnerships
It’s a Marketing Strategy of the Past
Ever since Google became serious about upgrading its algorithm regularly, link building became a bit outdated and that might prompt marketers to think about affiliate marketing as an outdated strategy.
However, if you try and learn the tricks of the trade, there are many new ways in which you can use SEO and build your brand.
You have to be Omnipresent to be Successful
A recent study by Three Ladders Marketing showed that most website traffic for affiliates is driven 79% by SEO and 60% by social media. So by just focusing on those two traffic strategies, you’ll be doing great without having to spread yourself too thin.
Furthermore, the easiest way to succeed in affiliate marketing is to give quality a higher preference than quantity. You will readily find a number of smaller websites that are willing to promote your product.
So focus on finding a smaller group of partners that will deliver conversions. Of course, the deliverables will be dependent on your partners, big or small, driving results.
As studies have shown repeatedly, success in affiliate marketing never comes easy. Yet, when you build relationships, focus on your niche, focus on a few important affiliates and create a productive system that is mutually beneficial for both the advertiser and the affiliate, you can generate profit and conversions for your small business.
You need to be working in a Popular Niche to Succeed in Affiliate Marketing
It’s true that popular niches work better with affiliate marketing. However, that won’t dim your chances of achieving success.
If you have good marketing experts on board, who stick to the goals and the mission statement of your company, and have the ability to find affiliates who understand the relevance of working in a market where you are comfortable, then your niche won’t need to be all that popular.
To make sure that you and your team are up to par with your skillset, there are online certification courses for affiliate marketing. If you and your affiliate team go through these courses meticulously, it will help you all to grow in this field.
What Else You Need to Watch Out For
When it comes to affiliate marketing, there are some cautionary red flags that you need to be aware of when recruiting affiliates to promote your product or service.
For your reference, there is a post by Forbes contributor Jabel LeBret, titled Affiliate Theft Could be Costing You Millions, which details how some unscrupulous affiliate marketers are costing brands and businesses millions of dollars every year.
Unfortunately, there is a multitude of business owners, spanning all industries, that are prone to at least one or two of the most common affiliate marketing misconceptions outlined above.
So I hope that your eyes have been opened up to the potential that affiliate marketing has for your bottom line by reading this article. Just make sure you take action as soon as possible and be on the lookout for affiliate theft when analyzing your campaign results.
Did this article change your mind about how you regard affiliate marketing?
Or did you just realize that you have been a victim of affiliate theft?
Let us know in the comments section underneath and happy campaigning! J
Tina Jindal writes professionally about various topics, like education, employment and real estate. She has written several articles for mainstream publications and has published on topics as diverse as Gardening, Cookery, Healthcare and Pregnancy. She is also an employment advisor who loves traveling and is mad about dogs.
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