Influencer Marketing Explained
Have you ever questioned whether to get involved with influencer marketing or affiliate marketing? Perhaps the one resonates with you and would be the perfect fit for your marketing goals, whilst the other for various reasons is something you want to steer clear off. So what if we told you that the two are used to describe the exact same practises, and the only thing that separates them is their name? As brands are increasingly incorporating this concept as an integral part of their marketing strategy, it is critical to understand how both equestrian influencers and equine businesses can leverage this to drive sales and grow their business.
BENEFITS OF AFFILIATE MARKETING
The use of affiliate marketing strategies have become increasingly relevant as consumers demonstrate a preference for online shopping. Studies show that in the US alone the affiliate marketing spend is increasing annually by 10.1%, and with online shopping reaching all-time highs during Covid-19, leveraging the additional web traffic to generate revenue across digital and social media is now a means of business survival. If you have earned or paid someone money for posting a picture or link on social media or website, you will already have bought into the concept of affiliate marketing. Affiliate marketing is implemented across a wider range of media, from Instagram to YouTube to blogs on websites.
So who’s involved? There are 3 primary players in affiliate marketing:
Businesses: Companies and brands who wish to drive more sales by capturing new audiences.
Affiliates / Influencers: Individuals or brands who promote products through their social media or website. You want them to create a honest and compelling reason for their followers to use the product(s) they love, making it easy for you to acquire new customers.
Consumers: These are the potential customers you want to reach and the followers of affiliate(s) you work with.
Benefits for the Influencer:
No Fees -
Most affiliate programs are free and will not cost the influencer anything.Organic Traffic -
Adding links and keywords to our posts and website will naturally boost your SEO and your visibility with search engines.Flexibility -
The goal for all campaigns should be agreed in advance, and you can chose the products and brand you wish to work on.Create Partnerships -
Building partnerships with brands will boost your engagement and act as a buffer for other companies who may want to work with you.No face to face -
Although you’re promoting a product, you are linking the customer directly to the seller which means you are free from the responsibilities of customer support as these still lie with the seller.
Benefits for the Business:
Cost Effective -
As affiliate marketing is performance based, the main advantage is that a commission is paid only when the desired action has been taken. This mitigates any efforts that drive traffic with little to no value for your company while also ensuring that you get what you pay for. Furthermore, recruiting affiliates in new markets is an easy way to branch out into that market without the overheads of market testing and the cost of creating an entire marketing campaign.Broaden Your Audience -
Affiliates can be found in every market and product demographic, meaning there are always individuals who will align with your needs. This allows you to expand out into new markets that you might not otherwise have bandwidth to explore, giving your brand a much stronger online presence.Boost Your Reputation -
Partnering with trusted bloggers and reputable websites can further the reputation of your brand as they will solidify consumer confidence in what you have to offer. While in the research phase of a purchase, a consumer is more likely to trust a 3rd party’s opinion over content produced directly from the business.Increase Traffic -
When done in conjunction with other marketing efforts. recruiting affiliates will allow you to scale traffic faster. Affiliate links won’t have a direct impact on your search engine rankings, but it will have a ‘halo effect’ in terms of more people searching for your products and navigating your website which is great for your rankings.
Affiliate marketing is a low risk but can in turn be a very effective investment to help expand your marketing efforts beyond the reach of what is considered traditional marketing means.
Are you already utilising affiliate marketing for your business? Let us know how it’s going by leaving a comment! Want to know how to implement an affiliate program as part of your marketing strategy? Get in touch.
