Affiliate marketing is an opportunity to add income to your bottom line. However, it has changed significantly over the past couple of years. It’s no longer simply a matter of embedding a link in a blog post. Today, you have competition from other affiliate marketers. You have the middleman or affiliate management companies taking a larger chunk of your profits as well.
However, you also have more opportunity as brands begin to realize the power of having an affiliate team. The following tactics can help you create a strong, and profitable, affiliate program in 2016:
#1 Leverage Growing Technology to Be Competitive in Affiliate Marketing
Large brands and publishing companies are turning to affiliate marketing to replace their lagging ad sales, and technology is the key to their success.
“Skimlinks is something of a master affiliate network. Their technology allows them to check the links on a participating publisher’s page, cross-reference that with their database of 20,000+ affiliate programs and see if the site being linked to by the publisher has an affiliate program. If it does, Skimlinks automatically affiliates the link for you and credits you with any commissions resulting from the link.” Read the full post.
#2 Create Your Own Coupon Incentives
Want to make more income from affiliate marketing? Who doesn’t, right? What if you dropped the affiliate middleman and created your own coupon incentives to drive traffic and sales?
“In a world where everything in affiliate marketing worked, a customer would be going on Coupon Craze to use it as a discovery platform. Today, it’s the opposite!” Read the full post.
#3 Partner with Your Competition
Have you ever thought about partnering with other affiliates promoting the same product or service? Yes, we’re talking about partnering with your competition. It can be lucrative and expose your business to new customers and new income models.
“The PMA recently published a free whitepaper exploring the notion of “co-opetition” as it applies to affiliate marketing. Co-opetition — the word derives from “cooperation” and “competition” — is where competing entities cooperate, at least partially, through sharing information, partnering to develop new technologies, and even brand collaboration.” Read the full post.
#4 More Companies are Turning to Affiliates for Sales – More Opportunity for You
Affiliate marketing is a growing opportunity for businesses of all shapes and sizes. More companies are turning to it as an additional business model and a way to boost sagging advertising profits.
“Forrester’s affiliate marketing report projects a compound annual growth rate of 10 percent from 2016-2020. In 2020, more than $6.8 billion will be spent on the tactic.”
Read the full post.
#5 Attribution Modeling May Make the Most Sense
Last click modeling isn’t serving you or your business any good. What’s better? Attribution modeling for affiliates may be the key to a more profitable future.
“You, as an affiliate marketer, have much to gain from the use of attribution modeling because it is a system of looking at data that values you for whatever particular role you play in an online sales transaction that included your affiliate link, whether first or last.” Read the full post.
It all begins with a strong affiliate marketing strategy. Set yourself up for success. Embrace best practices and keep your eyes open for opportunity. Let affiliate marketing become one of your biggest revenue generators.
