Affiliate Programs for all business owners
An affiliate program is an excellent way of growing a small business in a short amount of time by making the most of resources widely available both online and offline. Here are 4 reasons why you should consider an affiliate program for your business.
Double your sales with affiliate tracking software
An affiliate program is the perfect way to expand your sales force without all the paperwork of modern employment. This can mean incredible things for small businesses who can potentially expand their reach ten-fold. Imagine having an army of bloggers, website owners and advertisers promoting your product, service or website all working on a commission basis for your business – whether making a sale, generating a lead or capturing an email address.
Also, who better to spread the good word about your company than a satisfied customer? Many businesses using affiliate programs find that their customers are the best promoters of their product as they usually have more knowledge and personal experience with the product or service. This has the potential to make massive growth in a very short space of time.
You get what you pay for.
Actually, you only pay for what you get. You only pay for results. You aren’t paying employees for just showing up to the office every day; instead you pay for sales, email addresses or other goals that you specify. This is known as Cost Per Action (CPA) and affiliates will only receive a commission once they meet the goals that you set. You simply can’t beat that with traditionally employing salespeople to prospect for your business.
Value for money!
Affiliate programs are excellent value for money. For starters you only pay for what you get which means no budget is wasted on traditional staffing costs. Secondly, having an affiliate program means that you can potentially be getting paid for little to no extra work. If you sell a product, especially a digital product such as software, you may have huge margins that you can afford to give away to affiliates. This makes your program all the more attractive to potential promoters.
Also, you get a paying customer who you can then upsell or cross-sell to make extra profit on your bottom line. Some affiliate programs even offer 100% commission because the affiliate program creator knows that they can make all their profit – and more, on the backend. Even if you sell physical products or a service, running an affiliate scheme could be an excellent way of boosting leads and generating new customers for your business.
Using affiliate software can make the whole process of managing an affiliate scheme almost effortless. This software allows you to create your program and modify it to meet your needs. You can usually also track the profit and effectiveness of your CPA offer, and any backend sales you are making. Affiliate tracking software can also help to cut out some of the ‘middle-men’ costs involved with using affiliate networks.
So there we go, 4 reasons why hosting an affiliate program for your small business could be the difference between “getting by…” or “going big!”