When implementing a new business venture marketing and brand establishment are two things that have a significant presence in a business plan. With that, they often become the biggest stumbling block for most startups. According to blogging guru, Harsh Agarwal of shoutmeloud.com, affiliate marketing tools are the solution to these woes.
On October 10th at the Digital Business Conclave Mr. Agarwal stated that affiliate marketing has become one of the top ways to drive traffic while keeping down marketing costs, something that buries new startups which are strapped for cash.
“My blog made Rs.10 million. 70% of this came from affiliate marketing,” said Agarwal.
Companies like Amazon and Dropbox have successfully used affiliate marketing. This gives us the question, what is affiliate marketing. Well affiliate marketing involves enlisting a network of ‘affiliates’ to work individually to send traffic to a particular site and rewarding them with a percentage of any sells generated.
You can create an in-house affiliate program or to join an established affiliate network. And according to the award winning blogger the most viable option for tech startups was to join a network. Given the ease of set-up and the vast array of them available makes an affiliate network the perfect choice.
“These help in brand visibility, free marketing, search engine visibility and the best part— you pay for performance only,” he said, summarizing the benefits of affiliate marketing tactics.
Affiliate networks like Linkshare, Commission Junction and of course TheTopSpotOnline come to mind.
You have those like Agarwal who swear by affiliate marketing and people who ardently against it. Some are quick to dismiss this style of promotion as a scam, but its popularity of this continues to soar as even big players like Wal-Mart, Best Buy and Microsoft deploy this due to its ability to sustain user interest.
Understandably affiliate marketing is used because it is a results driven form of promotion. The low cost makes it an ideal choice for startups, couple that with the low risk and the potential brand recognition it generates. Like Agarwal defines the bottom line as the want to be discovered and by extension, monetize, something that this strategy facilitates. Setting goals and maintaining them will help startups become successful with affiliate marketing.