How Affiliate Programs Can Increase SME Profits : AFFILIATE MARKETING

Small businesses (SMEs) must break out of the start-up phase as quickly as possible. Usually this happens when you reach a certain level of sales, which is difficult when you have only one source of income. To break through that number, consider affiliate marketing to generate new revenue without much additional work. The affiliate marketing industry is expected to exceed $ 8 billion by 2022This makes it an extremely profitable way to generate new income for your SME.

When you become an affiliate marketer, you are promoting products or services that you have not created but that are complementary to your SME or in an adjacent market. Think of it as an add-on to your SME’s key products and services that your customers can use to improve their experience with yours. For example, if your product helps customers save time, can the partner product help them track how much time they save with your product? If it helps them achieve a goal, does the partner product help them celebrate that goal?

Getting started with affiliate marketing is easy because you don’t have to create, buy, or distribute the product yourself, so you can focus on your core business. Set up your affiliate marketing program properly and it will continue to generate revenue for you in the years to come.

Why should you use affiliate marketing in your SME?

  1. You save time and effort by not having to invest in developing the products that serve your audience. The products you are advertising for already exist. So you have to find the right one for your SME.
  2. You have already built a relationship with your audience, which saves you even more time. Many digital marketers recommend that you only advertise affiliate links after you have built a solid, lasting relationship with your audience, otherwise it may seem sneaky. You already did that.
  3. You become a more trustworthy resource for your audience by recommending products and services that also help them.
  4. Many programs pay off quickly and regularly, so you can quickly deposit your earnings into your accounts. No net payouts of 30 or 60 more!
  5. This is a low-risk way for you to grow your business as you are not the product owner.
  6. There is no limit to how much you can earn as a partner because the sponsoring companies also want to earn that much. Digital products and services tend to offer higher margins due to their low production and fulfillment costs (more money for you on every sale). Physical products tend to offer lower returns, sometimes in the single digits.

Add affiliate marketing to your SME

Step 1: define the problem that the product solves

Your recommended Partner products should be the ones that complement your SME and from which your customers benefit. To find out, you need to know what problem it solves. You want to promote products and services that help your audience on their way to success. Never start with the product or commission rate first. If you choose this path, your audience will lose confidence in you, which is a bad thing for your SME.

Ask yourself:

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  • Is there an external product or service that you could recommend to take your solution to the next level?
  • Could you teach them how to do something or by adding a level of complexity to the solution that you can’t currently offer?

Step 2: Choose the partner products or services that fit the solution

Discover Affiliate programs Take a look at the products you use in your SME that help you solve the same problem or achieve the same goal. Write down a list of the courses, books, software, physical products, and coaching services you used. Check out the products that your customers use or that you may have mentioned in the past. Examine them carefully and see if they match the rest of your customers and the values ​​of your SME.

This is the ideal way to find one because experience sells so much more. Before buying, dozens of product reviews are read. Use this option to select your partner products.

Step 3: collect the evidence

How many reviews Read for everything you buy online? At least a few, right? The same applies to your audience. You have already achieved success with your products or services. Therefore, explain how you can increase this with the partner product. Search online for videos and reviews for products that are not on the provider’s website. Find the unbiased truth from real consumers of the product.

If you recommend a product that you have used in your SME, demonstrate this evidence to your audience. Write a blog post or record a podcast. No matter how you do it, give your audience concrete evidence that these partner products can change their lives for the better.

Step 4: Present the partner product to your target group

The last and most important step is your pitch for the partner product. Determine where to put the affiliate links on your website and the call-to-action (CTAs) you write to encourage them to click. You only make money by clicking and then buying.

Paste your links in emails Blog posts, Landing pages, podcast show notes, webinars and social media news. Be honest it is an affiliate link and offer to answer any questions people may have about the product. This shows them that someone is there to help them when needed.

Adding a new source of income to your SME doesn’t have to be complicated. Use affiliate marketing to generate residual income while helping your audience.

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