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Increase your conversion rates with affiliate marketing
Affiliate marketing has traditionally been a channel focused on high conversion rates. One reason for the generally high conversion rates is the payment model, where affiliates receive payment per conversion, regardless of how much traffic they direct to your website.
The commission can be set at a fixed amount per lead or a percentage of the purchase amount. If you work actively with affiliate marketing, it is not uncommon for it to provide 8–10% of your turnover. In recent years, affiliate marketing has also involved working with influencers, either as the sole strategy or in parallel with collaborations with fixed fees.
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Companies rarely work directly with individual affiliates. Instead, they are part of an affiliate network, which enables them to reach out to more affiliates and manage them on a shared platform. When you work with affiliate marketing, you need to make a number of strategic choices. It can be difficult to know which affiliate network is best for your business, which affiliates you should work with and how. Some networks focus exclusively on influencer marketing and only have influencers as affiliates, while other networks have a much broader range of affiliates.
Affiliate Marketing Strategy
In order to succeed with affiliate marketing, you need to work actively with the channel and build relationships with your affiliates. If you work with too many affiliates, you risk losing control; if you work with too few affiliates, you may not see any return on your investment. It is important to know who you should work with and to nurture your relationships with them. You need to monitor the results for each individual affiliate continuously and make it easy and attractive for each partner to market you rather than one of your competitors. You should ask yourself questions such as:
- What is our affiliate strategy?
- How can we work with affiliates as part of our overall marketing strategy?
- What guidelines should our affiliate programme have?
- How will we ensure that the guidelines are followed?
- How should we communicate?
- What compensation model should we use?
- What KPIs are important to us and how do we measure the results?
Why Beet as your affiliate marketing agency?
Beet is an affiliate marketing agency with extensive experience and continuous contact with affiliate networks such as Awin, Adtraction, Commission Junction (CJ Affiliate) and Tradedoubler. Our affiliate marketing specialists can help you with everything from creating an affiliate marketing strategy and technical implementation to daily communication with your affiliates and management of your affiliate network and affiliate programme.
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BOOST YOUR SALES WITH AFFILIATE MARKETING
Would you like to know how Beet can help your company with affiliate marketing? We would love to take a closer look at your website and discuss any potential for improvement with you. Contact us to find out more.
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