Shopify is one of the biggest e-commerce platforms that lets affiliates generate regular passive revenues. The Shopify affiliate program allows you to partner with Shopify and earn money by referring customers to Shopify. The program is free to join, and after signing up, you’ll get a unique affiliate link to use in your blog posts or social media handles. Affiliate marketing is a marketing strategy in which an affiliate marketer promotes a merchant’s product or service in exchange for a fee. The affiliate marketing programs will pay affiliate marketers a commission for each transaction or action brought about by their promotion of a business’s goods or services.
If you opt for a platform such as Easy Affiliate, you can easily check your top-performing partnerships from your WordPress dashboard. However, by using the right tool, you can make the process of controlling and running the program much easier. The more narrow you get, the better you can serve that particular group of people, and the easier it will be to connect with affiliate in that niche.
Affiliate Marketing For Small Businesses And Its Effectiveness
The affiliate program includes iSpring Suite and iSpring Suite Max, which cost $770 and $970, respectively. Thus, you can earn from $77 to $97 from a single purchase and around $1000/month if you provide 10+ customers monthly. As an affiliate partner, your perks include a 30% lifetime recurring commission, a competitive 90-day cookie window, and access to ready-to-post creative and promotional content. Thinkific affiliate partners earn up to $1,700 per referral every year. This affiliate program offers attractive income potential — with a monthly payout of over $100,000 to their affiliates, and over $2,000,000 in total affiliate commissions earned so far.
An affiliate program is an agreement in which a business pays another business or influencer (‘the affiliate’) a commission for sending traffic and/or sales their way. This can be achieved through web content, social media, or a product integration. Additionally, affiliate marketing is growing in popularity among small businesses eager to boost their income.
How to Set Up an Affiliate Marketing Program for Small Businesses
One way to help your affiliate marketing efforts is to place links on your website and other online platforms. These links will direct visitors to where they can find what they’re looking for. For example, if you run a branding consultation business, you don’t want affiliates who are used to selling hair vitamins. By promoting these products, you help them succeed in the market and create a wider audience for them. For vendors, adding people to be part of their sales team is important since they rely on referrals to thrive.
Small Business Trends is an award-winning online publication for small business owners, entrepreneurs and the people who interact with them. Our mission is to bring you “Small business success … delivered daily.” Samson Haileyesus is a staff writer for Small Business Trends and has several years of progressive experience in media, communication and PR working with government, NGOs and private sector.
Reasons to Start an Affiliate Marketing Program for Your Small Business (+ How to Do It)
You will likely eventually run into some affiliate trying to take advantage of your company in one way or another. Take comfort in knowing that most affiliates will be honest and don’t let the https://xcritical.com/ occasional bad seed ruin a good thing. And of course the cardinal rule is to always pay your affiliates on time. Once you lose an affiliates trust it will be extremely hard to get it back.
If you want to get high converting leads at a fraction of what you are currently paying for through word of mouth, make sure you get this FREE E-Book. Reported that 92% of people trust recommendations from friends and family. Additionally, 74% of people attribute “word of mouth” to their purchasing decisions. Ultimately, the only downside is some categories have particularly low commissions, such as video games and electronics. If you write about animals, for instance, you can promote cat treats or dog toys. If your audience is interested in cars, you can recommend jumper cables — you get the idea.
How to Set Up Affiliate Marketing Programs for Small Businesses (In 3 Easy Steps)
They offer 8% commission on any product you’re able to sell through your own website or blog. Additionally, the company provides a selection of creative assets, content, and banners to ensure you’re proud of the link or banner you include on your website or blog. Best of all, it’s free to join their affiliate program, and Bluehost offers reliable tracking to ensure you get credit for each lead you provide them.
- One of the more affordable and practical solutions for a small business is to find high-quality content creators, such as online influencers or bloggers, to partner with.
- Your affiliate commission rates should be attractive and worthwhile for your affiliates, but also be reasonable for your business.
- Now while I love affiliate marketing and do it all day every day, that doesn’t mean it’s right for every business out there.
- We then connect this information with our readers to help them find the right tool for their business.
- If not, though, it’s important to make sure that your affiliates have all of the information they need to get started right away.
In other words, the affiliate must actually get the investor to invest in the affiliate product before they are compensated. Rather than relying on pays per click, involved affiliate marketers use their personal experiences with the product in their marketing efforts, and customers can trust them as reliable sources of information. A happy medium between unattached and involved, related affiliate marketing is for those who don’t necessarily use the product or service, but who are somehow related to the niche audience. These affiliates often have some sort of influence in the niche and an established following, and can therefore offer some authority. When you sign up, you will be provided with a unique affiliate link that is ready to refer your audience to ActiveCampaign.
Build your program with affiliate software
But especially if you’re looking to be a related or involved affiliate marketer, try choosing a product that is of interest to you or that you are somewhat knowledgeable about. Yes, affiliate marketing is legal as long as the affiliate discloses their relationship with the merchant and informs their audience that they are receiving a commission of sales. Then, leveraging the rapport you have created with your audience and your stance as an expert, tell your readers why they would benefit from purchasing the product or service you are promoting. Developing and monetizing microsites can also garner a serious amount of affiliate sales. These sites are advertised within a partner site or on the sponsored listings of a search engine. By offering more focused, relevant content to a specific audience, microsites lead to increased conversions due to their simple and straightforward call to action.
The downside to using affiliate software is that it’s often more challenging to integrate with your website or other business tools . You also need to manage all of the accounting and tax information for your affiliate partners, which can be quite a hassle if you don’t have a streamlined process set up. Small businesses can tap into the audience of their affiliates affiliate marketing system and, as a result, expand their brand’s reach. These new audiences might not have been easy to target and identify using other marketing and advertising methods. By selecting affiliates who resonate with your brand, you ensure that the traffic you receive through an affiliate’s link will be targeted to those who find your products or services useful.