I mean, where do you even start? Is there anyone you should partner up with? How do you make sure your products/services reach the right people?
As a small business in this vast corporate ocean, affiliate marketing can be a great way to make waves on social media. But, as easy as established brands make it look, how to use social media for affiliate marketing can confuse many.
Well, worry not, fellow small fish. Listed below are tips to help you make better use of affiliate marketing on the social platforms your brand is in. And, in case you’re still not convinced, I also talked briefly about how your brand can benefit from it. Let’s get to it!
7 Tips on utilizing affiliate marketing on social media
1. Establish your affiliate program.
If you haven’t already, this has to be the primary item on your to-do list.
First, join an affiliate network. Affiliate networks will provide you with the tools you’ll need to start an affiliate program In essence, this connects you – the merchant – to affiliate partners.
There are many affiliate networks out there, so make sure to pick one that fits your needs and your niche. For example, HealthTrader is designed for the health niche whereas RewardStyle is geared more toward the fashion industry.
Next, think about how your affiliates will earn their money (i.e. conversions) and how much money they make (i.e. commissions). Conversions are typically accomplished when their referrals buy something from you but it can be other things, too. Commissions can either be flat rates, a percentage of the sale, or even one-time payments.
2. Choose the right partners.
Now that you’ve got your program set up, it’s time to pick the affiliates who’ll represent your brand on social media.
Look for influencers and bloggers in your niche, and make sure they’re active on their respective platforms. Twitter, Instagram, YouTube, etc. are great places to start looking. However, if you have the means, you can also look for influencers in other forms of media.
Even better, connect with like-minded people and businesses who have similar goals to yours. This way, when they promote your products or services on their social media channels, it will be a lot easier to engage customers (because they already trust the said person or business).
3. Consider your loyal customers, too!
A study from HubSpot found that 71% of people are more likely to buy something if they were referred to it through social media. That’s how powerful word-of-mouth still is in the modern world.
So, while your customers might not have as large a following as influencers in your niche, they might be just as, if not more potent partners.
4. Send out your products.
Sending out your products to your affiliate partners gives them a chance to show off your stuff. This makes their ad look more authentic to their audience which, in most cases, increases conversion rates. More commission for them, more sales for you. Win-win.
Plus, it gives them a chance to take unique photos and other types of media that they can use on their channels.
If your product is too expensive to just give away, many brands loan their stuff for a certain amount of time instead. For example, let’s say you run a small business in Upstate New York that sells cameras. You can always loan a camera to an influencer and have them send it back to you after a month or so.
5. Create striking promotional campaigns.
Think about it this way: Your affiliate partners’ jobs will be to put your product out there and to “influence” their audience to check you out. Your job will be to convert all that attention to sales.
This is where promotional campaigns enter the fray.
These campaigns revolve around captivating content that not only promotes your product but also encourages your audience to engage with your brand.
P.S.: We have you covered in case you needed help understanding social media campaigns.
6. Monitor your successes and failures. Adjust accordingly.
Affiliate marketing campaigns won’t always be successful. Nonetheless, it’s important to track everything you did and its results.
This way, you know what you can do better next time.
Not only that, you can use the data you gathered to optimize your ongoing campaign; not just the ones that come after.
7. Shorten your URLs
Affiliate links have trackers in them which, in turn, lengthens the URL. Not only does it take up precious characters in brief social media posts, it downright looks like spam – and no one likes a spammy post!
If the affiliate network you joined doesn’t already have a tool that shortens URLs, you can always use free tools like Bitly and ShortUrl.
How do small businesses benefit from affiliate marketing?
Small businesses, especially in Upstate New York, can benefit greatly from affiliate marketing due to its high potential for profit and low cost.
You can leverage affiliate marketing to increase your overall profit margins while opening up new growth opportunities. Not to mention, it’s also a great way for your small business to expand its reach, as well as increase its overall online presence.
Conclusion
Affiliate marketing is a powerful tool that you can use in your brand-growing efforts. By leveraging the power of influencers in your niche, your loyal customers, captivating content, and other best practices, you can maximize your sales while also reaping the benefits of social media.
If you need help optimizing your brand’s social media, we’re taking offers for our free evaluation. Give us a try because who knows? Maybe we’re a good fit.