

A study by Business Insider shows that affiliate programs account for around 15 to 30% of online sales. In fact, Statista reports that in 2019, US businesses spent over 6.4 billion dollars on affiliate marketing and this figure is projected to hit a spend of $8.2 billion by 2022 – these are staggering amounts.
Why is affiliate marketing so popular?
Businesses need recurring sales. Loyal customers are helpful, but to avoid tanking, there is a need for an influx of new customers too. Affiliate marketing helps businesses get out of the start-up phase seamlessly by ushering in new customers and retaining recurring customers, at the same time.
Affiliate marketing is a proven way to increase sales and expand brand reach.
How does this happen?
When prospective customers come across content by actual people that markets products (or services), it creates a positive brand value. Buyers are more inclined to purchase a product or a service when they see it being used by people they like and follow online.
Let’s explore this in more detail:
Basically, user-generated content is created by people outside a business. It is natural content that promotes a brand. This works, because buyers turn to influencers or people they know for service and product referrals.
So, if you want to begin affiliate marketing, start encouraging user-generated content and then re-share them on your social media profiles to promote them further. Buffer, a leading social media management company, takes advantage of its affiliate community for helping businesses grow.
Having affiliates serves as an instant form of social proof. BrightLocal reports that as many as 91% of people between 18 to 34 years trust reviews as much as personal recommendations.
Affiliates are perfect leverages for social proof because:
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