If you’re an entrepreneur, you are very likely on the lookout for low cost marketing ideas that work. An affiliate program is just such an idea, but many entrepreneurs don’t consider it because they believe it is too costly, or too difficult to set up and manage. Those entrepreneurs are for the most part wrong and here’s why:
- It’s affordable marketing done for you. The best reason of all to implement an affiliate program is that it’s an inexpensive way to market your business. Think about it; anyone who signs up will want to promote your business to their tribe. This means low-cost advertising in social media, on websites, in newsletters, on blogs, in forums and anywhere else your affiliates can post links online.
- If the affiliates are getting paid, it’s because you are getting paid. If you set up an affiliate program that pays an affiliate only when they refer a customer who buys a product, then it’s a win-win situation. You get paid, and only then will your affiliate earn his/her commission. If the affiliate doesn’t refer anyone who makes a purchase, then there is nothing for you to pay.
- You are in control of the program. You have the ultimate say on how much your affiliates earn – the more generous you are, or the easier the program is to sell, the better your affiliates will do in selling your product or service. You control whether affiliates get paid every time someone clicks their affiliate link, or they get paid only when a sale is made. You control whether an affiliate gets paid a percentage of the sale, or a flat rate. You control when and how affiliates get paid – monthly, or after each sale, and whether there is a minimum amount they have to sell before they get paid.
- It can increase your website traffic and boost sales. An affiliate program will enable you to extend your reach on the web. If you have enough affiliates marketing your program for you, traffic to your site should increase and along with increased traffic should come increased sales.
- It can be extremely easy to implement. Depending on how easy your website is to work with, adding an affiliate program can be as simple as installing a plugin and adding a widget. Platforms such as WordPress make it extremely simple and often do not require technical skills other than very basic WordPress knowledge.
- It can help you grow your tribe. Even if the increase in traffic for some reason doesn’t boost your sales, it can definitely increase the number of people signing up for your newsletter, e-zine, or opt-in list and as you likely know people on your list are more likely to buy your products.
An affiliate program is basically a done-for-you advertising campaign while your affiliates are your low-cost sales force. There are very few downsides. You stand to increase your income and so do your affiliates. What could be easier than that?