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Affiliate Marketing during COVID times
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Why affiliate marketing is important during Covid-19
It may sound counterintuitive, but it’s very important to maintain your marketing budget right now. Or even go for a marketing upgrade. Even if business is slow. It may cost more money right now, but it ensures the viability of your company in the long run. Affiliate marketing is a very effective addition to your current marketing mix. And it can be implemented seamlessly alongside your current marketing activities. In this blog we’re going to look at the advantages of affiliate marketing during Covid.
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Why should you start with affiliate marketing during COVID
Running an affiliate marketing program is an easy way to expand brand awareness and market reach without investing heavily in marketing. For example, if you have 25 affiliates in your program, each promoting your products to their entire audiences, you could potentially get your products in front of thousands of people every time. That’s a considerable number of brand impressions you’d have to generate (or pay for) yourself.
The benefits of running an affiliate campaign during COVID-19 times
First off, affiliate marketing is a smart option in this time of economic uncertainty — it offers a range of benefits whilst keeping your customer acquisition costs down. In particular, the performance-based pricing model involves no upfront investment costs, as you only need to pay affiliates when conversions are made. This is a far cry from platforms like, let’s say, Google Adwords where you pay for impressions, meaning you could pay a lot of money without even making a single dollar!
Companies of all shapes and sizes are discovering they must adjust their strategies in order to reach customers and capture lost in-store traffic. Many brands have cut back on in-store and paid media spending and shifted their budgets to online channels, especially those that can drive cost-effective, measurable, bottom-of-funnel results such as affiliate marketing.
In the affiliate marketing ecosystem, brands partner with bloggers, influencers, publishers, even other brands to promote their products or services. By only paying for sales, leads, or new customers that their partners deliver, affiliate marketing allows brands to efficiently scale while optimizing their return on ad spend and cost per action (CPA).
Brands with creative and agile affiliate programs are the ones who will have loyal customers and partners long after this global crisis is over. With that in mind, here are some ways brands are adjusting their affiliate marketing strategies in the time of Covid-19.
Find new ways to communicate with affiliates
Put more focus on in-demand product categories
Offer more engaging promotions
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Is affiliate marketing profitable during insecure times like COVID?
At the end of COVID, you can probably look back on affiliate winners and losers. The winners are those who put a lot of effort into adjusting to the new situation. The losers will be those who tried to continue on the same path as always or those who threw in the towel as soon as things got tough. COVID isn’t a death sentence for your business, marketing strategy, or affiliate program. On the contrary, it’s a chance to perform better than ever. But you’ll have to work hard and keep adjusting to make that happen.
COVID-19 and Target Circle
Our affiliates are currently continuing to drive web traffic and sales volumes with minimal disruption, helping companies reach new customers from different countries. Either through review websites, blogs, social media, paid search, download portals, or coupons and discount sites, you can find the suitable type of affiliate to ramp up your online business.
We are living in challenging times. While the COVID-19 outbreak impacts countries worldwide, we are doing everything we can to support our clients and our affiliates to run their affiliate program business on our Target Circle platform.
Are you looking to start your own affiliate marketing program? Or are you looking for a way to fully automate your current affiliate program? Our partner marketing software can help you do exactly that! Browse our website for more information, or get started with your 100% free trial today.
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