As part of Solutions Review’s Contributed Content Series—a collection of articles written by industry thought leaders in maturing software categories—Lilit Davtyan, CEO at Phonexa, explains how affiliate marketing can help businesses get more mileage from their marketing efforts without overburdening their marketers.
A recent survey by Gartner revealed that 75 percent of chief marketing officers and marketing teams are under significant pressure to achieve more with fewer resources. As companies focus on cost-cutting measures, marketing departments are often the first to be affected, which creates a challenging situation for marketers. They are expected to drive growth, acquisition, and engagement with reduced resources, often having to shoulder the responsibilities of multiple roles as their team sizes shrink.
Marketing teams are juggling a more comprehensive range of responsibilities. And yet, their workload continues to grow as management demands more campaign volume, more significant social media presence, increased content production, and so on. Trying to take on all of these extra responsibilities often leads to burnout. Under these constraints with limited budgets and people, marketers need help maintaining and executing effective campaigns.
However, doing more with less doesn’t necessarily mean cutting anything out. There is an affordable marketing option that allows this without losing sight of their strategy—affiliate marketing. By investing in an affiliate marketing solution, companies can significantly lower their marketing costs and execute their plan.
Affiliate Marketing Provides Scalability
Fortunately, affiliate marketing has emerged as an efficient solution to help marketers scale their efforts. Affiliate programs provide an army of partners who are incentivized to help drive conversions for a brand. Instead of relying solely on in-house resources to promote products and services, brands can leverage affiliate marketers who are passionate evangelists for the products they represent.
By adopting this strategy, businesses can broaden their scope and establish a more significant presence without placing undue pressure on in-house assets. They can entrust promotional activities to affiliates adept at generating leads, boosting traffic, enhancing brand recognition, and facilitating conversions via the content they produce and disseminate across various channels.
Collaborating with affiliates can allow brands to tap into marketing skills that may be out of reach when handled in-house. The cream of the crop will be proficient in various fields, such as search optimization, social media marketing, email outreach, content creation, and more. Employing them as full-time staff would come at a steep price for brands. However, by splitting revenue, they can be engaged without breaking the bank.
The Power of Affiliate Marketing
Companies partnering with affiliates opt for a commission-based payment system instead of incurring high fixed marketing expenses. Affiliates act as effective marketing channels, expanding the brand’s promotional impact and capacity. Since affiliates care about the promotion, the brand can allocate less effort toward this aspect. Moreover, the affiliate budget can be modified or halted based on the results achieved and available resources.
Digital advertising costs can significantly benefit from the involvement of affiliates. Compared to traditional advertising methods, commissions for affiliates are considerably lower. Not only do they bring valuable skills and expertise to the table, but they also have access to performance data that can be used to make better business decisions and adjust the strategy accordingly. By collaborating with affiliate marketers, brands can extend their reach to new audiences and platforms, increasing their ROI.
Affiliates have a proven track record of continuously improving campaign results through testing and iteration. They also excel at identifying creative marketing tactics that may have yet to be considered otherwise. Working with affiliates also provides brands with an objective perspective on their messaging and positioning, allowing for more effective campaigns. By complementing broader marketing efforts, affiliate partners can significantly impact results overall.
In the current marketing landscape, where achieving success with limited resources is a common challenge, brands can benefit from leveraging affiliate marketing. Through this strategy, brands can collaborate with affiliates to receive the necessary assistance to operate efficiently and drive desired outcomes without straining their budgets or resources.
By partnering with a network of cost-effective associates, affiliate marketing allows brands to expand their outreach and maintain productivity, even with limited internal resources. Marketers can use this approach to effectively meet market demands and achieve more with fewer resources, even amid economic uncertainties.
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