7 Surprising Ways To Successful Affiliate Marketing for eCommerce Business

10 Surprising Ways Affiliate Marketing Will Transform your eCommerce Business

You’re always looking for a good recommendation, right?

Chinese food, car mechanic, or the latest tech gadget – we want confirmation from someone we trust that it’s a good buy.

Essentially, affiliate marketing is the eCommerce version of product promotion through an online influencer.

Affiliate marketing can be the strategic move you need to increase sales and connect with clients you otherwise would never reach.

  • By 2020, U.S. affiliate marketing spend is expected to rise to $6.8 billion.
  • 81% of brands use affiliate marketing programs.
  • 16% of all online orders are generated through affiliate marketing,

What is affiliate marketing?

Affiliate marketing is one of the only marketing channels that offers a 100 percent return on investment every time. It’s one of the only tactics that allow you to pay for marketing spend after the sale.

The affiliate marketing process involves the merchant – that’s you – and the affiliate. The affiliate, or publisher, is the company or individual that promotes your products and brand on their website. Your affiliate receives a commission when someone clicks through to your website and makes a purchase.

The best affiliates will have:

  • A trusted website that generates traffic.
  • Updated content.
  • Influence on their audience.
  • Valuable content (blog, product reviews, how-to guides).

Since the affiliate is counting on commissions, you’ll need a game plan for converting your site visitors to product buyers. It’s all about providing affiliates with the highest earnings per click (EPC). Even if you work with the best affiliates, they’ll promote your products less and switch their concentration to other eCommerce sites that have higher conversion rates and EPCs, so you need to be strategic in your approach.

With 38% of marketers calling affiliate marketing one of their top customer acquisition methods, it’s worth adding to your eCommerce strategy.

Here are 10 ways affiliate marketing will transform your eCommerce business.

1. Indirectly grow your sales team

Your entrepreneurial juices are flowing and you’re ready to grow your eCommerce business without limits. If you’re just one person or a small group, affiliate marketing can instantly expand your indirect sales team to include experts in your niche and beyond.

Affiliates are skilled in driving quality traffic to your site.

Quality traffic = More conversions.

More conversions = Higher revenue.

Higher revenue = More opportunity to grow your eCommerce business.

A highly qualified indirect sales team that doesn’t waste time designing traditional ads, getting them approved, and tracking their progress? We’ll call that a marketing win.

2. Improve customer loyalty

Customers that continue to support your brand over time will spend 67 percent more than new customers. Affiliate marketing allows you to benefit from the trust and expertise of your chosen affiliates.

When a social influencer, affiliate marketing blogger, or celebrity signs off on your product, they bring their audience with them. G-Shock has its own set of fans and customers, but now they’re benefitting from @elorabee and her nearly 183,000 Instagram followers.

eCommerce Affiliate Marketing Image 1

3. Multiple paths to conversion

What does success look like for your eCommerce business? Unlike digital advertising, affiliate marketing allows you to choose what your successful conversion will be through manually setting incentives. Choose from conversions like:

  • Sale of a particular product.
  • Email capture.
  • Filling out a survey form.
  • Downloading a how-to guide.

You can manually set incentives through affiliate marketing by offering commissions on the success of your choice. Your eCommerce business is unique, so how you rate success should be just as distinctive.

Plus, affiliate marketing quickly gets your eCommerce website in front of more eyeballs by featuring your products across the web. Instead of working on getting 1,000 new visitors to a product page, you can leverage a high-traffic affiliate site and get visitors to your site that way.

Make sure to work with your affiliate partners to optimize the path to conversion. You should have them focus on your highest average order products and send traffic to your highest converting pages to maximize impact.

4. Better budgeting and ROI

You don’t have to spend loads of cash hoping your ads hit the right audience or that Facebook and Google’s algorithms won’t change overnight.

It doesn’t matter if your marketing budget has a couple of commas or you’re shaking your piggy bank, affiliate marketing allows you to more precisely budget for marketing campaigns.

It’s simple: Choose your conversion target. Offer commissions. Make money.

Because you only pay out when products sell, you can use your marketing budget for other revenue streams – sponsoring social media influencer posts, social media, or unique content creation optimized with your keywords.

Plus, eCommerce affiliate marketing has an incredible ROI. Since you’re paying a small percentage for each sale generated (typically 3-10%, based on your vertical), you can see a return on ad spend of 10:1 or more. After factoring in your products COGS (cost of goods sold), profit margin, and affiliate commission, you should still have room for some solid profits.

Most eCommerce affiliate marketing commissions are paid out based on a percentage of the product’s sale cost. And you can set different commissions for different affiliate partners. For example, you may want to send a coupon or loyalty site an IO (insertion order) with a commission of 3%, while sending an influential blogger an IO with a commission of 10%. Get creative! Inside your affiliate platform, you can create multiple offers for your affiliates. You just want to make sure you are as competitive as possible – check your competitor’s affiliate programs and match or beat their commission rates.

5. Enhance credibility

When an affiliate promotes your service or product, you can use that promotion to add credibility to your business. Use images, icons, or text to publicize where your brand has been used and reviewed.

Chelsea Krost, a top influencer, showcases where her brand has been publicized with an “As Seen On” section on her homepage.

eCommerce Affiliate Marketing Image 2

6. Develop brand ambassadors

People are talking about your brand, and if you’re not leading the conversation, you may be unaware of what prospective customers are reading. Affiliate marketing puts your brand in the hands of influencers who help create brand ambassadors.

When trustworthy influencers blog about your products, post photos of them or feature them in videos, they’re telling all their fans and followers that your brand is awesome. It’s approved, and 82 percent of consumers say they’re highly likely to follow a recommendation made by an influencer.

According to a survey of more than 4,000 social media users from the U.S. and Europe, an influencer:

  • Has 10,000+ followers.
  • Is someone who brands contact to help promote products and services.
  • Shares info on brands they love and reviews popular products.
  • Is considered an expert in their niche.

The influencer’s fans become your new brand ambassadors by trying the products, posting about the products, and sending even more traffic to your eCommerce site.

7. User-generated content overload

Have you ever sat down at your computer and had nothing? It’s a couldn’t-create-something-good-if-the-business-depended-on-it kind of day. One very evident way in which affiliate marketing enhances your eCommerce business is with UGC (user-generated content).

Even for the Instagrammers who don’t have mass followings, this can make a difference. Here’s why:

  • The vast majority of consumers (92 percent) say they turn to people they know for referrals above any other source.
  • Twice the amount of sales are generated through word-of-mouth compared to paid ads.
  • Nearly three-fourths of all consumers depend on social media for information about a product.
  • 84 percent of consumers say they’ll go with peer recommendations above all other advertising methods.

When your fans and followers snap photos, leave reviews, or post videos about your product, use that content as marketing power. It’s always better to have someone else say what a killer brand you have than to proclaim it yourself.

Wrap

You need an affiliate marketing strategy to enhance your relationship with customers and strengthen partnerships with businesses and social influencers you admire. While the method will call for your time and energy in the beginning, you’ll soon be well entrenched in your specific niche with time to focus on what matters to you – running your business.

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Business Planning (The Start-Up)

A business plan is a written description of your business’s future, a document that tells what you plan to do and how you plan to do it. It is a to do list and not to do list strategy to become successful. If you jot down a paragraph on the back of an envelope describing your business strategy, you’ve written a plan, or at least the game of the plan. In planning you must involved many people in your circle or in your team to get their ideas and evaluate the best ideas and use that ideas.

Business plans are inherently strategic and very important in business at all levels and all type of industry. You start here, today, with certain resources and abilities. You want to get to there, a point in the future (usually three to five years out) at which time your business will have a different set of resources and abilities as well as greater profitability, people, management and increased assets. Your plan shows how you will get from here to there. In good planning you need includes all possible risks and factors that will surely encounter in the way. Lists all the risks and factors and it’s corresponding measures or prevention to that matter.

Starting a business is stressful, need much time, capital and resources but it i also a full excitement and inspiration to achieve something you want in the future ahead. You’re wearing a million different hats trying to establish and grow your business, and there are always going to be unexpected challenges and obstacles that put a strain on your objectives. As a result, many entrepreneurs have to work long hours often, while keeping their day job battling uncertainty and still do great work.

In business planning you need to plan everything set all your goals, objectives, and target of achievements. You need to set up how much capital, manpower, and what type of business you are trying to engage in. It is in business planning that really matters for you to become successful in your business. In business don’t be on a rush but at the same time don’t be to slow because resources, time and competitive environment are always their that might affect your business and affect your plan. In business you need to gamble of being successful or failure.

That’s why it’s important to try to do other things in your life to help relieve some of that strain. By living a healthy lifestyle like exercising, eating right, have a healthy hobby then you will have more energy and positive mind to help you jump any hurdles in your way. The first 60 seconds of a business pitch can be the difference between reaching your highest goal or falling flat on your face. If not, it’s back to the ground floor and starting from scratch again  but this with lesson.

A successful business entrepreneur always plans ahead, think ahead and take risk head on. The higher the risk is involved the more return you will get. It is just a matter on how you plan your business and take everything in consideration all factors that may affect the business performance.

“Success is not final; failure is not fatal: It is the courage to continue that counts.”

— Winston S. Churchill

What Causes Financial Crises?

Accounting Management Finance Marketing Business Concept
Accounting Management Finance Marketing Business Concept

One of the great ironies of the 2008 financial crisis is that it was sparked by a product created from a historically safe investment asset: residential mortgages. In the past quarter century, delinquency rates of single-family home mortgages hovered below 3% for the most part except for the time around the Great Recession, according to the Federal Reserve Bank of St. Louis. Then Wall Street bundled mortgages of various qualities into complex, opaque securities to be bought and sold, often using debt to turbo-charge the investment. When defaults began on Main Street, the tremors reached all the way around the world.

Today, the financial crisis seems like a footnote in history. But like other crises, it has sparked a period of soul-searching. What signs that a crisis was brewing did experts and regulators miss? Why didn’t regulatory reforms in the past prevent it? How could regulators stop another crisis from happening? What are the lessons from this and other meltdowns? These and other questions were the focus of a panel at the “Financial Markets, Volatility, and Crises: A Decade Later” conference held recently in New York by Wharton’s Jacobs Levy Equity Management Center for Quantitative Financial Research.

While this year is generally acknowledged to be the 10th anniversary of the crisis, in actuality there is “no real consensus about when it all began,” said Wharton finance professor Richard Herring, who moderated the panel. Some point to 2006 as the start, when home prices peaked, while others think it began with the 2007 collapse of two Bear Stearns hedge funds that bet heavily on subprime mortgages. Perhaps it was when BNP Paribas froze withdrawalsfrom $2.2 billion worth of funds in the same year. Still others have argued that “it was manageable until the Lehman … orderly liquidation,” Herring said. That was the start.

Whenever the crisis actually began, panelists said that it bore similarities to other Wall Street meltdowns of the past, such as the 1987 market crash and the 1998 collapse of the hedge fund Long-Term Capital Management. Time and again, the chase for a higher investment return, the creation of new, complex securities, the relative inexperience of young traders, the popularity of a new theory to make money and lagging regulations have brought the financial system to the brink.

Free Lunches and the Illusion of Safety

Bruce Jacobs, principal and co-founder of Jacobs Levy Equity Management, said that while the 1987 crash, Long-Term Capital Management and the 2008 credit crisis were different events, they had similarities. “The common theme is that the strategies promised to make investing safe,” he said. “There is an expectation of protection and safety and at the same time they were sold on the basis of higher returns. They become irresistible.” But these “free lunch strategies” later backfired.

In the 1980s, belief in a trading strategy called portfolio insurance was supposed to take out risk. The strategy called for hedging against market downturns by short-selling stock index futures. Jacobs quoted Nobel laureate Robert Merton — who co-created the famed Black-Scholes-Merton calculation to determine fair pricing for options — as saying that if one literally traded continuously, all the risk would disappear because it is being shifted to someone else all the time. But practically speaking, Jacobs said, one can’t trade continuously in practice.

Portfolio insurance also can fail. “We all know what happened in 1987 — there was a major [stock market] crash, the largest one-day decline in the history of the U.S. markets, greater than the decline in 1929,” Jacobs said. It’s fine to shift risk to someone else, providing there are “counterparties on the other side willing to buy,” he said. But as many investors tried to shift risk at the same time, they could not find enough folks to take it off their hands. “The buyers were not there,” he said. “The markets became fragile. And the decline was over 20%.”

How to pretend to be a team lead player when you work in Accounting and Finance

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If you want to get ahead in a bank, you will need to be known as a team player. Every appraisal at every firm I’ve ever worked for has included a review on my for enthusiasm for contributing to the well-being of the team. Every appraisal conversation I’ve ever had with a manager has included something along the lines of, “You’ve worked well within your team, but now you need to expand your teamwork to the rest of the floor.” Being a team player is the sort of thing that has no end.

It is also utter cr*p. In banking you are a team player at your own risk. And yet if you don’t perfect the art of appearing to be a team player, it will be used as a stick to beat you with at bonus time. – It’s one of the common weaknesses a manager will use against you in the annual review.

So what can you do about it? The art is this: you must be a team player, but only in areas where the ramifications will not damage you. For example, you do not want to be a team player when you’re building a relationship with a client; you do not want to take your “team” to a client meeting. Every client now interacts with dozens of employees at a bank and the reality is that you need to fight for your tiny share of that – not dilute it. A former manager of mine insisted on attending all my big client meetings and seeing all the emails I sent to them. – Eventually he took over all those accounts himself. This happens a lot. Beware.

Instead of being a team player, you need to play the game. When you’re in sales, this means you need to big-up your colleagues in call reports and to mention them in a nice way in group meetings. Nothing more. Where I work, cross-selling functionality was developed in our CRM tool but no one used it – because no one wants to introduce their client to someone else.

In a bank, therefore, being a team player is an exercise in politics. It’s about saying one thing and doing another. You need to know the right words: to talk about cross-selling, to say you’re leveraging the team, to reference how important everyone else is, and to quietly get on with building your own profile. Teamwork in banking is all about dropping colleagues’ names and networking relentlessly so that people know who you are and what you do.  If you’re gullible enough to do any more than that you can expect to get burned.

Arnaud LeManche is the pseudonym of a salesperson in U.S. bank

Have You Talked To Your Virtual Assistants About Rogue One Yet?

Do you know what your virtual assistants do for fun?

Have you asked them about their interests?

Did you know that they paint, cook really well, or watch the same series and movies as you? A little something my friend bought for me from Japan. I still need to have it framed.

You are going to find out the most interesting things about your VA if you asked. They’ll be willing to share.

This is a habit that John (OnlineJobs.ph owner) has picked up over the years of working with us. He either asks us the fun stuff we’re up to recently, or we just openly share the information with him anyway.

I must admit, there was a time where it brought out paranoia. There was a time when I thought, oh my god, did I do something wrong? Why does he want to find out. Later on, I realized he just wanted to. He wanted to learn about his VA and the stuff I was interested in, and if it was something he found cool too, we would talk about it, and we would show off all the fun things we have about it.

dalek r2d2

Last week, John asked me about something I mentioned on my report. He asked me what a Dalek was. Well, the Daleks are only the most awesome and saddest villains of all time John!!! But really, according to Wiki, “the Daleks were engineered by the scientist Davros during the final years of a thousand-year war between his people, the Kaleds, and their enemies the Thals. With some Kaleds already badly mutated and damaged by nuclear war, Davros genetically modified the Kaleds and integrated them with a tank-like, robotic shell, removing their every emotion apart from hate. His creations soon came to view themselves as the supreme race in the universe, intent on purging the universe of all non-Dalek life.”

Watch the best Dalek moments here:

I’ve been crazy over this series for a while. I’ve been crazy over a lot of movies and series actually, and I like to buy stuff that remind me of these interests. Lately, I bought some Metal Works 3D Models and posted it on instagram. It’s a great hobby to start. You basically buy something that looks like this:

51odk47codL

And it transforms into this:

I made this all by myself. :)

When John saw it, he reacted the way no typical boss reacts. “It looks great. You should write about it.” He said. So here I am, playing with two of my toys, trying to get some inspiration for work.

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Prime Minister: Does it surprise you to know that Daleks have a concept of beauty?
The Doctor: I thought you’d run out of ways to make me sick. But hello again. You think hatred is beautiful?

Prime Minister: Perhaps that is why we have never been able to kill you.
R2D2: Beeeeeepp beeeeep dooot, wit wit doooooot!

It Doesn’t Have to Be an Awkward 1 on 1

You don’t have to schedule a call and start an interview. Go back to basics which is, your VA’s are humans. You can you know, talk to them. To make it easier for you, the new Star Wars movie Rogue One is showing. You’ll be surprised at how many Filipinos are crazy about Star Wars. In fact, we have Star Wars Fandoms everywhere.

If you think you have absolutely nothing in common because of the geographic differences, think again. I’m crazy about both Doctor Who and Star Wars, British and American legacies. And there are so many movies and series I watch, just like the other virtual assistants I know. So yeah, there’s bound to be something you can relate to. If not movies and series, then maybe the latest gadgets or food!

It’s as simple as that, start by asking about the newest show on air, or the new movie you want to watch. Who knows, you might be interested in the same things. You might get a better perception of how they do things, of what they are passionate about, of what makes them tick.

Why Do You Need to Talk to Your VA?

Talking with your virtual assistant doesn’t just make a better working relationship. You have to admit, there’s a point to the saying “Out of sight, out of mind.” Constant effort is necessary to remind yourself that hey, this is a real person. In return, your virtual assistant will also be reminded that I’m not just working for this email address or this business. There’s a person behind this business, and that person has a family, has friends, and bills he also has to pay for. He’s a real person like me. It reminds your staff, just like I am reminded, I don’t just want a business to succeed, I want this person, my boss to succeed.

 

You can register in the link here to sign up.

https://www.onlinejobs.ph/jobseekers/info/630796