Affiliate marketing is a referral or introduction system used by brands to help grow their marketing reach through influencers, typically through blogging or social media. It is another tool in the marketing space, that offers a commission to affiliate partners for referring potential leads or customers to their brand and products, normally only if the lead purchases the product.
Affiliate marketing is a great sales and marketing tool when used responsibly. Brands that offer these programs and want long-term success, set strict parameters on how someone can be part of their program and represent the brand. This includes disclosure, required by law in some countries, of the affiliate partners potential commission on referring their readers to the brand. I have always been cautious about taking advantage of affiliate programs, but I have recently changed my mind on this issue. The key is integrity to disclose affiliate product links, and only refer products that I either personally use or that I am confident will add value to people that I refer to the brand. If used with integrity, it is a simple form of a commission agreement, without any guarantees. It’s potentially a win for all three parties.
Brands Must Set Strict Parameters for Influencers
If you are a business with a product or service that fits an Affiliate Marketing or sales model, I would encourage you to set strict parameters around those referring your brand. Not just the usual legal focus, but the rich customer experience that you want for your brand. It’s a great way of getting new leads, who have chosen to investigate your brand by referral of a 3rd-party influencer. There is no cost impact to the customer, as the commission is always factored into the cost of sales – the same as a normal internal sales transaction.
Strengths and Weaknesses of Affiliate Marketing
Strengths
- It’s an effective way to reach leads.
- The cost is only related to a transaction/conversion.
- It’s a win-win-win scenario for all 3 parties
- Potential leads arrive at the brand’s website with the interest that has been created by the affiliate as an external opinion. This is a high-value lead.
Weaknesses
- Brand misrepresentation by an affiliate marketer.
- Consumer perception or deception.
Ted’s WoodworkinG is a great example of Affiliate Marketing Success
The links here are affiliate links.
Ted’s WoodworkinG offers online access to 16000 woodworking plans for a really good price. Why is Ted’s WoodworkinG affiliate program so successful? The answer is fundamental to successful affiliate marketing: the product is excellent, and he offers a really good deal. That’s it! You don’t need to complicate things. I only recommend products that I know to be good, and that I use or would use myself after a lot of research. In addition to this, affiliates need to serve their audience by informing them of great deals, well reviewed products etc.
Another highlight of Ted’s WoodworkinG offer is that you get to see a sample of the product before you commit to buying it and free downloads. Here’s an example:
If you love woodworking projects, like I do, then this is a great resource and a great example of affiliate marketing done well. If you’re interested in woodworking, check out Ted’s WoodworkinG here.
My Affiliate Marketing Resolution
I am often asked which products or services I use for my own business and brands. This is another reason I decided to offer a few select affiliate brands on my site. These have added tremendous value to my business over the years. I won’t use or suggest a product without thoroughly testing it and comparing it to what is out there. I also suggest having an Affiliate Disclosure page on your website and labelling affiliate products or links appropriately. I love to help small businesses and entrepreneurs drive success. The following are a few of the affiliate referral brands, products and services that have added tremendous value to me.
- YOCO Credit Card Machines and Payment Gateway
If you need a great live streaming management platform that includes multi-streaming functionality. This allows you to stream your live stream to multiple platforms at once. YouTube, Facebook, LinkedIn, Periscope etc. One of the other great features is the ability to connect your audience on Facebook to your live stream, so that you can post their comments live with their profile picture. Pricing is also really good. You can find out more here.
TubeBuddy is the main tool that I use to manage the backend of my YouTube channel. It has been a huge lifesaver when it comes to time management and properly optimizing my channel. They have tons of free tools you can check out right here!
Canva – an excellent Online Graphic Design application for social media, print, and video editing. It keeps getting better, as they add more apps to this creative web application. Find out more about Canva here.
Let me know if you have any questions about them and if they have added value to you.
