As we gear up for another new year, what are you doing to elevate your business?
An affiliate marketing program where you pay your affiliate partners a referral fee for every lead or sale generated by their marketing efforts, isn’t new; many forms of affiliate marketing have been part of the business practice of many cultures, for centuries, often based on traditional family connections and alliances.
Affiliate marketing continues to be a powerful revenue generator, with affiliate marketing revenue reported at $139,409k in the US alone in 2011 and with Forrester projecting the affiliate marketing industry will grow to $4.5 billion by 2016.
Is the power and profit of affiliate marketing just for the big players – for the affiliate management agencies, super-affiliates and specialized third party vendors? No. Small to medium business entrepreneurs, students and new graduates can realize significant revenue from affiliate marketing – with the right type of program, and with strategies that will help your network succeed.
To paraphrase Les Brown, “You’ve got to stay hungry.” Don’t stop recruiting new affiliates, even if you seem to have enough productive, committed partners at a given time; today’s business environment is highly fluid. Keep advertising your network through online channels, including display advertising and email marketing, as well as through listing in affiliate directories and contacting potential affiliates directly.
Keep your relationships win-win. You’re presenting potential affiliates with a valuable business offer; ensure your targets have an established social network, client list, or website traffic numbers that will benefit from your offer, just as you will benefit from their network. Communicate regularly with new and existing partners: welcome them to your network and help them to help you, with updates, tips and tools that will help them market your network to others – including promotional materials and templates to make their job as easy as possible, and to encourage active, ongoing conversion.
At Global Coupon, we’re motivated by both a “Stay Hungry” and a true “win-win” approach to doing business. Our resolution is to empower people with the tools to succeed – to change the way the world does business, and to eradicate generational poverty.
The Global Coupon Affiliate Program is launching in the new year, offering individuals and businesses 3-7% of sponsored partners’ monthly spend on the platform, and a student version that offers an annual scholarship incentive. New sign-ups receive a welcome toolkit that includes tips on how to market the program and recruit new partners, as well as supporting online and print promotional materials. Global Coupon itself expands the power of any affiliate business partner to market and brand their products and services to targeted consumers anywhere in the world, on their own time, using established and breakthrough tools such as Real Time Bidding on display advertising (available Spring 2013), and with integrated individual and corporate social responsibility through the Charity of Choice program.
What are your business resolutions for the new year?