The Wikipedia defines affiliate marketing as “a type of performance-based marketing in which business rewards one or more affiliates for each visitor or customer brought by the affiliate’s own marketing efforts”.
Nowadays affiliate marketing has become very popular within bloggers. It gives them an easy way to monetize traffic from their blogs to web-shops. There are many affiliate programs that help to organize this activity, such as Google Affiliate Network, Amazon Associates, LinkShare etc.
One of the most important challenges in organizing your own affiliate network is choosing the right affiliates. It is a mistake to think that affiliate program is quick and simple to manage; in reality statistics says, that only small number of affiliates generates leads. If you want to build an effective affiliate system, you need to devotedly seek and choose right partners, bring them to your program and motivate them to stay with you.
The most efficient way for retailers to engage new affiliates is to recruit them within customers. Merchant always knew that the key to sales promotion is a happy customer, who recommends your shop to his friends. Traditionally the best method of promoting products or services to new customers was word of mouth. Such referrals often happen spontaneously, but businesses can influence this through appropriate strategies.
Market of tools for affiliate marketing is growing day after day. One of such tools — IBoughtIt.
The idea of IBoughtIt is based on assumption that a buyer, who purchased something in your shop, is automatically loyal for you and ready to share information about the purchase with his friends. So what you need to do is to create a possibility for your customer to tell his friends about the purchase and motivate him to do so.
IBoughtIt works as a plugin that integrates into an electronic shop. At the start when you create an account, it gives you access to admin panel through which you can manage your e-shops. Admin panel allows you to create campaigns to promote separate products or group of products. If a customer buys a product, which takes part in campaign, he gets invitation to share information about this purchase.
In order to motivate customers to publish info about purchases at the shop, administrator can grant some gifts or discounts. For this purpose, IBoughtIt has coupons. The IBoughtIt functionality also includes analytical toolkit. It allows admin to evaluate the effectiveness of each campaigns based on indicators like CTR (Click-Through Rate).
The important notice, IBoughtIt is a free service and you can always get qualified support to integrate it into your shop.
March 11, 2015