08, Sep 2021
Categories
Digital Internet Marketing E-Commerce Influencer Marketing

How Does Affiliate Marketing Facilitate Sales in Ecommerce Businesses?

An increasing number of sellers are turning to digital platforms to sell their products and services. This is primarily because buyers in Tier-II and Tier-III cities now eliminate the need to visit physical markets for purchases.

The COVID-19 pandemic made this clearer because shopping online became a necessity more than a convenience. Thus, brands like Amazon, Flipkart, FirstCry, Jabong, Swiggy, Zomato, Big Basket, Myntra, etc., have been seeing a rise in their sales ever since.

How can you sell your products on an eCommerce platform?

The following options exhibit how you can sell products and services online:

1. Owning an eCommerce portal

The primary way to become an independent eCommerce seller is to create a platform for yourself to sell products and services directly to your potential customers. For this, you need an eCommerce development agency that facilities the development. The expert team will help you build your website and also help you reach out to your target audience.

2. Being an eCommerce operator

You can become an eCommerce operator and enrol in an online portal to sell their goods and services. For example, if you become an Amazon seller, you can list your products on Amazon and sell through the eCommerce giant.

3. Being an eCommerce participant

You can also become an eCommerce participant by selling your products and services to end-users through an eCommerce operator, who act as vendor and registered with eCommerce platforms like Flipkart and Amazon on your behalf.

What is Affiliate Marketing for eCommerce businesses?

One of the most economical ways to promote your business is affiliate marketing. First, let us discuss what it is and then we will share why it is economical.

To make it easily understandable, affiliate marketing is a form of referral program. People who decide to become affiliates earn commissions by promoting your products and services.

An affiliate can help you indirectly by promoting products and generating sales. In return, you share a certain percentage of your profits as commission.

Types of affiliate marketing strategies

As an eCommerce seller, you must know the indirect ways affiliate marketers can boost your sales. The following points will help you understand why affiliate marketing is a credible way to increase sales and generate more income:

1. Web content

Affiliates usually own their websites and blogs. They create content and link them to products they want to sell and earn from.

They spend a lot of time and money to make use of search engine strategies. Such investments include Facebook ads, paid advertising models, and much more. However, once their content has a good reach, they help you generate income through increased sales.

2. Coupon sites

People look for coupons all the time to receive any tiny amount as discounts for their purchases. The benefit of this strategy is that these websites usually have significant traffic, increasing revenue chances. Due to an established member base, these websites can enhance your chances of sales.

3. Monetize microsites

Affiliates monetize microsites to generate sales. Such sites share advertisements with another site they partner with. It can also be in the form of sponsored listings of search engines.

Microsites are distinct from the official site of the organization. These sites offer focused content that is relevant for a particular audience. Such sites can enhance conversion with their direct call-to-action.

4. Email marketing

Most affiliates who use this strategy have a list of email addresses to promote the eCommerce sellers’ products. In contrast, others use email newsletters and include hyperlinks to those products. When people click through those links and purchase a product, you generate more sales.

How is affiliate marketing economical for eCommerce sellers?

The best part about affiliate marketing is that most of the strategies are commission-based. Affiliate marketers are only entitled to a certain percentage of profit that they earn as a commission. So, an eCommerce seller does not spend money that can go in vain; they can only spend money after generating sales.

Final thoughts

eCommerce sellers must consider the value affiliate marketing can add to their sales and choose the type they want for their business. The form of brand promotion gained popularity due to increasing digital presence and it is a comparatively cheaper way of generating sales than traditional advertisements. If you are an eCommerce owner, then get in touch with a reputed digital internet marketing agency to get support in affiliate marketing for your business. All the best!

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19, Dec 2019
Categories
Influencer Marketing

Influencer Marketing – A Different Perspective

“Influencer Marketing” – You have probably heard this term already and would have some idea about it.

For those, who haven’t, let me share the definition of Influencer Marketing. Wikipedia defines Influencer Marketing as “a form of social media marketing involving endorsements and product placements from influencers, people and organizations who possess a purported expert level of knowledge and/or social influence in their respective fields.

Influencer content may be framed as testimonial advertising where influencers play the role of a potential buyer themselves, or they may be involved as third parties. These third parties can be spotted either within the supply chain (retailers, manufacturers, etc.) or among the so-called value-added influencers (such as journalists, academics, industry analysts, and professional advisers)”

In this article, I intend to present a slightly different aspect of Influence Marketing and how you can benefit from it. But that will come later. For now, let us analyse this definition.

If we go by the above definition, then we can broadly categorize influencers as:

  • People of great repute and social standing. For convenience, let’s call them “Celebrities”
  • People having great knowledge or expertise on the product or service you are dealing with. Let’s call these people “Experts”.

So, if you want your product or service to be accepted by the masses, you will need either a Celebrity or an Expert to endorse your product or service.

Now the question is, why would a celebrity or an expert endorse your product or service (unless he or she happens to be your relative )? Of course, for money. You will need to pay them to endorse. And bigger the celebrity/expert, higher the sum you need to pay.

If you are a start-up or a small business with limited funds, where do get the money to pay the influencer? That is where you lose the battle to a well-established, well-funded competitor.

Being associated with several start-ups and fund-strapped projects, I have faced this question umpteen times and that made me wonder – Is Influencer Marketing not for me? It is then I decided to look at the definition of Influencer Marketing again and realized how it is going to work for me.

So here I am, with my take on “Influencer Marketing”, especially in the context of Digital Internet Marketing.

In my opinion, Influencer Marketing is a process of getting more and more influencers to promote your products or services and thereby contribute towards your business’s growth.

Let us now look at the word “Influencer”. Who is an Influencer? Based on my understanding, an entity who can ‘influence’ another person in favour of buying my product or service is an Influencer for my product or service.

Furthermore, an Influencer

  • May not be a Celebrity or an Expert
  • May not even be a person (More on this later)
  • May not do it for money or any other personal gain

Now, let us look around ourselves and find out who could be our influencers, I mean, other than celebrities and experts.

  1. Our Customers: This is a as simple as it can be. Our customers are the biggest influencers as their feedback, experiences and reviews play an important role in prospects making their buying decision in your favour. The more customers give you favourable reviews, the more likely you are going to get new customers. So instead of spending a fortune to get a celebrity to endorse your product or service, pay attention to your customers and serve them with full honesty and attention (which they deserve anyway, and it does not cost you anything extra).
  2. Our Employees: Often, we fail to recognise the fact that our own employees can be our biggest influencers. Simply put, each one of your employees is connected to many people as family, friends, relatives, neighbours, social contacts and what not. There lies the huge potential of reaching out to prospects just by leveraging your employees’ contacts. And you don’t need to do much for that. Just make sure that they are reasonably paid, given the basic workplace benefits and cared for. Then if you make them part of any referral schemes with small benefits, they will gladly participate.
  3. Independent reviewers: There is a plethora of websites that offer independent product reviews. Some examples of such websites are https://www.consumerreports.org/cro/index.htm, https://www.bestconsumerreviews.com, https://www.consumersearch.com etc. Besides, there are websites/blogs dedicated to specific products and services. E.g., https://hostingfacts.com provides comparative analysis of top hosting providers. It does not cost a fortune to get your product / service reviewed on one of these websites, yet the benefits are immense. Often people give a lot of importance to these reviews since they seem to come from a third party. So, if you can get your product or service reviewed at one of these portals, that can do a world of good for your Influencer Marketing initiatives.

To cut the long story short, Influencer Marketing is not extravagant or expensive always. With a bit of planning and meticulous approach, you can carry out Influencer Marketing even at a very small budget.

Want to know more on Influencer Marketing? Watch out this space for the next article where I will describe various ways you can leverage your existing customer base for Influencer Marketing.

Until then, Cheers!

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