How does affiliate marketing drive traffic to your website?
At a time like the present, with so much product saturation, it is difficult for a video-on-demand service to stand out from the crowd.
Although it is difficult to break into the dense field of video on demand marketing, this can be achieved with an affiliate marketing strategy. If this sounds too complex for you, don't worry. In this post we have prepared a mini course on affiliate marketing to make it easy for you to understand.
Affiliate marketing works by word of mouth. The reason is that 91% of consumers value honesty above all else.
This has been working perfectly in recent years, because users decide which service they will subscribe to based on recommendations from friends, family and online reviews. Affiliate programmes make it easy to spread the good news about your video on demand service. But we'll talk more about that later.
First, let's dive into what makes affiliate marketing vital for video on demand businesses.
What is affiliate marketing?
Affiliate marketing is a very powerful tool, used by companies in many different sectors, based on word of mouth.
Research indicates that marketers spent $6.8 billion in 2020 on affiliate marketing, with 81% of brands adopting it as a regular marketing practice.
The strength of affiliate marketing comes from the honest and authentic connection made between the consumer and the affiliate.
Today, consumers prefer to spend their money with brands they can trust. They want to make sure their money is going to a good place, to a brand that identifies with their beliefs and values. Finding such businesses can be difficult for a consumer, as it requires a lot of searching.
This all changes if you find a brand recommended directly by another trusted brand. This could be a business, affiliate, influencer or brand ambassador that you already support and consider credible.
For example, you will be more open to hearing a friend recommend a brand than seeing a billboard on the road. This authenticity is essential to establish a relationship from the start.
How does affiliate marketing work in video on demand?
We already know how affiliate marketing works, but what makes it so beneficial for video on demand products?
Whether you offer sports, music, television or movies, your video-on-demand service has a content with a dedicated audience to find it. The biggest effort is in making sure they can find your content.
Video on demand and affiliate marketing work together either through affiliates or influencers to promote your service to their niche market.
Your niche market is where users are who are not currently in your network; perhaps they are part of another online community or are close to your niche. By using affiliates who are in the niches you want to target, you can speak directly to your target audience. But the advantages of affiliate marketing for your video on demand business don't end there.
One of the best features of affiliate marketing is that you only pay when it works for you. When you build a relationship with your affiliates, you set a predetermined payout rate with them.
Most companies state that an affiliate will only be paid when a sales conversion is made. This means that you will only pay when you receive a sale from an affiliate. This is wonderful news for any marketer, it means you will have a lower cost per acquisition and a higher return on investment (ROI).
The benefit of the affiliate tracking programme is the flexibility and control it allows. Not only can this programme be used to implement campaigns and pay affiliates, but you can also use its resources to gather valuable data about your marketing strategy.
Any marketer knows that it is a requirement of a successful campaign that adjustments can be made over time, either by reacting to market changes or by identifying strengths and weaknesses. This information is critical to promoting your video on demand services in the marketplace, as you will need to find ways to stand out from the crowd.
This brings us to the following...
Consumers are rapidly adopting video-on-demand services as a must-have; but with so many options on the market, they want to know if a service is legit before they use it. Affiliate marketing is key in driving traffic to your website. By relying on authentic, clearly identifiable and credible affiliates, your company can bring video on demand services to users.
But how is this traffic generated?
Users rely on positive reviews to choose which video-on-demand service they will subscribe to. They want to know that they are getting something that is worth their time and money, and that it includes:
- Know what content you offer.
- See if your rates are competitive.
- Understand your user interface (UI).
- Know the user experience (UX) of your video on demand.
This test is critical, as it can drive conversions and traffic directly to your website. Getting users to your website is perhaps the best thing you can do as a video on demand service.
With so much available on the market, it is an incredible effort to get users to your website. Pushing them there with affiliate marketing is the first step to getting them into the sales funnel.
This is one of the reasons why affiliate marketing is the number one source of acquisition for 40% of businesses in the US and why it is so important for video-on-demand products. Shortening and simplifying the sales funnel is one of the best ways to increase the chances of conversion and engagement. Beyond that, affiliate marketing increases your chances of generating traffic thanks to its features, much like referrals.
45% of marketers prefer affiliate marketing because it does not disrupt the user experience. Affiliate marketing is less intrusive, it feels more natural than traditional advertising, with banner ads, pre-roll ads and the like.
Consumers are more likely to click on an affiliate ad because it is as if they are receiving a recommendation from a friend. That personal touch is important in capturing a consumer's attention.
How to create an affiliate marketing strategy?
Creating an affiliate marketing strategy from scratch can be difficult, but it doesn't have to be complicated. By partnering with an affiliate network, you can develop and implement a campaign effectively and easily.
Once you have it up and running, you will need to think about more specific details, such as your commission rate and the media (SMS, email, Facebook, Twitter or Instagram) you will be targeting.
It is also important to do your research beforehand, as this will help you define the parameters of your affiliate campaign, which include:
- Understand what types of content to develop.
- Determine which apps and social networking sites to target: potentially saturated or unmarketed places for video on demand services.
- Find the types of affiliates that work for you.
- Once you know who you want to talk to and which platforms to target, you can determine which affiliates will work best with your marketing plan.
Which brings us to our next question....
How to find the most suitable affiliates?
Attracting new affiliates may seem difficult, but there are a few essential places where you should start your search. I recommend you look for these places first:
- Your existing customers.
- Influencers and brand ambassadors (whose niches overlap with yours).
- Affiliates that exist outside your niche.
- Existing customers are your best option, as you will be recruiting affiliates who already have prior experience with your business.
But why go outside your niche?
The results may not be as good, but you can still draw more attention to your video-on-demand services. It's an easy way to connect with consumers you wouldn't normally reach.
Some affiliates you should target are ...
- Podcast creators
- Content creators
- Video on demand companies
- Media companies
... as it can be great for your company to help drive traffic from their audience to your video-on-demand business.
To get the most out of your affiliates, you need to know the prescribers you are joining. This can be done by researching the prescribers beforehand, such as checking their profiles, looking at their SEO stats or asking them for more specific data.
If the partnership works, you should find a way to help and monitor them.
How can you encourage affiliates in their work?
Even if your affiliates work well for you, you should not leave them alone.
To do this, it is important to give them the freedom to create content the way they want; incentivising them in their work. By incentivising your affiliates, you will increase the chances that they will work harder for your business. Incentives can be diverse ...
- Discount coupons
- Gifts based on quarterly or monthly earnings (everyone loves a reward!)
- Increases in commission rates in the highest performing quarters
Which pushes members to work harder and, on the other hand, shows that you care about them.
Let's be honest: working on commission can sometimes be a thankless job.
That's why you need to show gratitude! After all, you're using affiliate marketing to stand out from the crowd, so make sure you also stand out when interacting with your affiliates. Treat them well and offer them perks that show you appreciate their work. Not only can this produce better results for you, but it can also lead to a long-lasting relationship.
And speaking of a good relationship over time...
How do you keep traffic coming to your video on demand service?
With the right affiliate marketing platform, you can easily develop a powerful marketing strategy. But what matters most is what you do once you get started.
Your video-on-demand service is planned for the future and you should do the same with your affiliate marketing strategy.
Use your affiliate programme to its full potential, that is:
- Track your affiliate data (including clicks, conversions, revenue generated).
- Communicate with affiliates on a regular basis.
- Find new affiliates when it fits your budget.
- Attract affiliates who can continue to grow your traffic.
- Incentivise your affiliates with bonuses, coupons and other benefits.
With a video on demand service, you need to have a growth mindset.
In addition to securing long-term subscribers, you want to keep attracting new ones, right? One of the easiest ways to attract subscribers is to attract them with affiliate programmes.
Stop relying solely on traditional advertising. Implement an affiliate marketing campaign and start driving traffic to your video on demand business today.
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