Is affiliate marketing the way forward?
Is affiliate marketing the way forward?
So it’s understandable why this model has become so attractive to businesses, especially in these hard pressed times. A recent report from R.O.EYE found that 46% or merchants consider affiliate marketing to be a cost-effective channel for driving sales, up 2% from last year.
Technology is helping.
As the market has grown it’s also become far more sophisticated with ever more technological developments being produced to help marketers establish and monitor campaigns. For example click-path analysis, which takes a look at how marketing channels used as part of a digital campaign contribute to sales. Although this isn’t exactly a new invention, marketers are keen to attribute budget to the most cost-effective digital channel and these tools are crucial in achieving this.
Telephone tracking is another development, which is being worked on in earnest. Once the kinks can be ironed out, it could really lift affiliate marketing to the next level. The reason being that it provides a way for affiliates to be rewarded even if a consumer switches from the web to a telephone to buy a product, currently they don’t get paid if this happens.
Social Networking
Another area that is being heavily pursued are social networking sites, such as Bebo and MySpace. If a friend visits your profile page, sees a product they like and then goes on to buy it, then you will receive a commission. So it is easy to see how this can be very attractive both for affiliates and companies. Social networks also provide a great way of reaching particular target audiences, as sites such as Bebo tend to attract a young audience, versus Facebook’s older and more affluent membership, so the degree to which the affiliate and marketer can target groups is extremely high.
With all these areas that can be tapped into and developed as a source of business, it’s important to make sure your network of affiliates is monitored carefully so that you are constantly checking on not only the quantity of leads coming through but also the quality. With this ever-developing market, the right knowledge and technology are crucial to getting the most out of it.
Is affiliate marketing the way forward - To learn more about this author, visit Greg Pipe's Website.
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Affiliate marketing is fast becoming the ‘must have’ when it comes to a company’s marketing mix. The main reason for this is that unlike the model of PPC where you pay for someone just to visit your website, affiliate marketing works on the basis of PPA or Pay Per Acquisition. Put another way, it means you only pay when you receive a qualified lead, or that lead actually purchases something.
So it’s understandable why this model has become so attractive to businesses, especially in these hard pressed times. A recent report from R.O.EYE found that 46% or merchants consider affiliate marketing to be a cost-effective channel for driving sales, up 2% from last year.
Technology is helping.
As the market has grown it’s also become far more sophisticated with ever more technological developments being produced to help marketers establish and monitor campaigns. For example click-path analysis, which takes a look at how marketing channels used as part of a digital campaign contribute to sales. Although this isn’t exactly a new invention, marketers are keen to attribute budget to the most cost-effective digital channel and these tools are crucial in achieving this.
Telephone tracking is another development, which is being worked on in earnest. Once the kinks can be ironed out, it could really lift affiliate marketing to the next level. The reason being that it provides a way for affiliates to be rewarded even if a consumer switches from the web to a telephone to buy a product, currently they don’t get paid if this happens.
Social Networking
Another area that is being heavily pursued are social networking sites, such as Bebo and MySpace. If a friend visits your profile page, sees a product they like and then goes on to buy it, then you will receive a commission. So it is easy to see how this can be very attractive both for affiliates and companies. Social networks also provide a great way of reaching particular target audiences, as sites such as Bebo tend to attract a young audience, versus Facebook’s older and more affluent membership, so the degree to which the affiliate and marketer can target groups is extremely high.
With all these areas that can be tapped into and developed as a source of business, it’s important to make sure your network of affiliates is monitored carefully so that you are constantly checking on not only the quantity of leads coming through but also the quality. With this ever-developing market, the right knowledge and technology are crucial to getting the most out of it.
Is affiliate marketing the way forward - To learn more about this author, visit Greg Pipe's Website.
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