More than 81% of U.S. advertisers have affiliate programs or are part of affiliate networks. What do they know that you don’t, and should you invest in this marketing option?
What Is Affiliate Marketing?
Affiliate marketing occurs when designated individuals or businesses (the affiliates) talk about your product or include links or ads on their own sites or social pages. In return, they get a small percentage of sales if the traffic they direct to your site converts.
Benefits of Affiliate Marketing
Strong affiliate marketing campaigns can drive revenues up by as much as 30%. And since you don’t pay the affiliate unless the consumer makes a purchase, it can be a cost-effective marketing method.
Affiliate marketing is also a proven method. Revenues generated via this type of marketing have grown 10% annually since 2015.
Is This a Good Fit for Your Home Improvement Marketing?
Before you jump on home improvement affiliate marketing, do make sure it’s the right choice for your business. While this method does spread the work of engaging new consumers out over your list of affiliates, you have to take time to build a strong network and communicate and manage brand messaging. You also need a product or service that’s easy for others to talk about or recommend so they have opportunities to point people toward your site.
You can build your own affiliate program and network. This lets you keep most of the control, but it does take some time. Alternatively, you can give up a little of the control and join an affiliate network. The network does the work of finding affiliates, providing them with your offers, and tracking and processing payments as appropriate.