In simple terms, affiliate marketing uses technology to refer buyers to sellers, and rewards referrers with a finder’s fee. Unlike many other channels, however, affiliate marketing is strictly pay for performance. No referrals, no referral fees. Pretty simple, really, at least in theory.
Truth is, a good affiliate marketing program is run by an experienced affiliate manager who’s responsible for the growth and health of the program. The manager will work on strategy and planning, use Internet tools to build and communicate with a network of referring affiliates, and report on progress.
How does affiliate marketing work?
Merchants (or sellers) contract with affiliates (resellers) to advertise their company, products or services via text or banner ads on the reseller’s web site. When a buyer makes a purchase by clicking on one of those ads, the merchant pays the reseller a finder’s fee. Affiliate programs are managed by specialists who use web-based tools to communicate with affiliates, track response and manage payments.
Mine is a service-based business–we don’t sell products. Can affiliate marketing work for me?
It might. Like pay-per-click, search engine optimization and local search, affiliate marketing is designed to boost web site traffic. But a well-designed affiliate program can also generate qualified leads, which are critical when it comes to selling services. Research will help determine if affiliate marketing makes sense for your business.
How can Virtual Solutions help me with an affiliate marketing program?
The first thing we’ll do is make sure affiliate marketing makes sense for you. If so, we’ll develop a common sense affiliate strategy with you, then set up and run your affiliate program on your behalf. We’ll identify and approach prospective affiliates, and protect your brand by making sure unscrupulous companies don’t try to get business by using your ads or brand-specific keywords. We will communicate often with your affiliate partners, and keep you apprised of what’s happening on a regular basis.
Want to see if affiliate marketing might be right for your business? Contact us at 816-822-0900 or info@search-consulting.com.