According to AM Navigator, in the United Kingdom, affiliate marketing has an ROI that amounts to $15 for every $1 spent. PRWeb states that at one point approximately 40% of Amazon’s revenue came from affiliates showcasing the power affiliate marketing can have on a brand. Retailers have noticed a conversion rate of 5% from visitors directed by affiliate links. The hardest part of building an affiliate program is finding affiliates who can drive converting traffic to your store. Yet store owners have a powerful ally in their loyal customers who can be rewarded for their referrals. Store owners can also reach out to affiliate marketers to cast a wider net of affiliates for their program.
“It took me about six months to make my first affiliate sale, and my first affiliate sale was worth about $35,” Miki says. This blogger went on to say, “I didn’t make my first dollar until I decided to invest in the “Making Sense of Affiliate Marketing” course. Taking an affiliate marketing course was the best decision I ever made because I had no idea how much money I was leaving on the table. This course taught me the exact strategies to make money with affiliate marketing.”
How much time would it realistically take for you to build an affiliate network from scratch? Do you have someone on your team to oversee this initiative by forming relationships with publishers, handling disputes, troubleshooting technical problems, and making sure that payments are sent on time? Do the anticipated returns justify the invested time?
When you have your own product or service you hold a lot more control of the funnel from beginning to end. But I’ve worked with many marketers to help them better control the best affiliate marketing funnel with banner ads, blog posts and social media. Once people move from those elements to the sales page – I help them control their message and email marketing campaigns and everything behind the scenes.