One of the biggest barriers to growth for startups is figuring out how to attract customers to their product, app, website or service. It usually takes too much time, effort and money to build brand awareness and the results take very long, which could be detrimental to early-stage startups.
Here, affiliate marketing comes as a boon for the start-ups giving them the advantage to pay only when real results are shown, that too in a short span of time. If done correctly, affiliate marketing can help startups attract targeted customers quickly. According to eMarketer, 46% of marketers consider affiliate marketing to be “very cost effective” as it relates to customer acquisition, second only to email.
Here are a few key benefits of affiliate marketing to be considered by budding startups:
Pay for performance model
The fact that affiliate marketing works on a model that considers payment only when the objective is reached makes it the most cost-effective mode of marketing. When your startup is at the stage of making a foothold and funds are low, performance-based marketing strategy is always a savior.
With affiliate marketing you get results quickly and promptly. If you stick to an effective affiliate marketing software that fetches real-time stats to help you gauge the results on your campaigns than your startup is sorted on many levels of marketing. You can check the conversions made, add budget caps and conversion caps, with a prompt affiliate marketing software.
SEO Friendly Set up
Affiliate marketing, as a process, generates a lot of backlinks that in turn proves to be beneficial from an SEO point of view too. The more the quality backlinks on the website, the more traffic you receive. This keeps your website in the top searches on search engines like Google. Not to mention, this traffic is all organic too.
Affiliate marketing programs can be as simple or as complex as you can handle. Here are a few top considerations before you jump into affiliate marketing:
Know your target customers
While strategizing your affiliate marketing program, you should make sure how you want your consumers to interact with your brand. To achieve this you are required to do research and a bit of homework so that you set the right expectation for the customer, the affiliates and for your startup as a brand.
Invest in the right tools
Having the right tools in place will make your journey easier. You would ideally want to streamline communication with your affiliates. Also, platforms and tools make it easier for affiliates to join your affiliate program and build trust. There are lots of SaaS affiliate marketing tools available that you can use and get your program going in just a few hours. VaultPro is one such software that will help you in your affiliate marketing journey. Built-in intelligence will help you stay on top of your marketing strategy.
Be ready to scale
With that, we mean that it is essential to ensure to test your website or app for its functionality and all its elements should be okay to go with. Your distribution and delivery system should be sound and then your customer service experts should be ready and well briefed to answer and customer query.
Maintain a healthy and quality affiliate network
In order to make your affiliate marketing program a success you need not recruit hundreds of average performing affiliates. You would rather want to have few quality affiliates who can perform exceptionally for you. You just have to identify and cultivate them to make your affiliate marketing program eminent.
Although it requires some amount of work upfront to get your affiliate marketing program up and running, it could be a great way to build up your customer base quickly and therefore, as a startup, it is definitely worth your while to adopt affiliate marketing.
This content is brought to you by VaultPro – AI Powered Performance Marketing