According to Statistics, affiliate marketing spending in the U.S alone is expected to reach $8.2 billion by 2022.
Why are companies spending so much on affiliate marketing campaigns? Below are some of the benefits of using affiliate marketers in your business:
1. Low cost of start-up
An affiliate program does not require that you have an advertising team for ad visuals or purchase ad space. Instead, you’ll have to rely on your affiliates to create marketing content for you. Other than the initial effort of selecting and vetting affiliates, marketing your products requires little effort from you, which is one of the reasons it’s become such a popular method of marketing.
2. Low ongoing costs
Since most of your marketing activities are done by affiliates, they’ll also bear the chunk of the cost attached. And since it’s a commission-based program, it means that you’ll only pay affiliates from sales they bring in.
3. Low risk
Lost cost means low risk. There’s little risk of loss since payments are only made when there’s an actual conversion; perfect for businesses on a tight budget.
4. Targeted traffic
Since the affiliates are handpicked by you, it can ensure that the traffic that comes to your sites from individuals that find your product or service useful. This is because affiliates that resonate with your brand will most likely have individuals with their area of influence that’ll find your brand useful.
5. Flexibility
You can easily make your affiliate program smaller or bigger at little or no cost. It also offers you a great way to scale up your business without breaking the bank.
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