If you’ve already read our post about destroying marketing automation myths, you probably know where this one is going. I’m a sucker for a good intro, though, so let’s pretend you have no idea how this is going down. Cool?
Alright, let’s get real for a minute. People will talk. They’ll talk about things—well, anything—and when they do, they sometimes dissuade others from trying them. It happens in elementary school, it happens in your local bingo club, and it happens in the world of affiliate marketing, too.
If you’ve heard any rumors about affiliate marketing, you might’ve been hesitant about giving it a try yourself. Heck, even if you’re already involved in the space, this misinformation could be getting in your way and preventing you from reaching your full advertising potential.
So, why don’t we spend some time debunking these pesky myths? You may learn some benefits along the way and start to see that affiliate marketing is far from what it’s painted to be in rumors.
1. Coupon affiliate marketing is a waste of resources
As eloquently as I want to word my response to this myth, I won’t. Because the reality is, this just ain’t true. I’m not sure how familiar you are with coupon sites, but chances are you’ve run into them at some point during your online shopping adventures. These discount sites promote products and services from a slew of different brands through coupons and too often they get a bad rep.
If you’re an advertiser, it’s easy to believe that you’ll lose money from these markdowns and possibly devalue your own brand. The truth, though? Coupon sites receive an abundance of traffic. That alone may benefit your brand in a lot of ways. It means that by partnering with these sites, myth-be-damned, you’re likely tapping into a whole new market that could result in even more loyal consumers.
Think about it. Taking the mere traffic these sites receive into consideration, you could introduce your products and services to tons of fresh faces who may have had no prior awareness of your brand. Additionally, there are coupon sites out there that won’t always offer your advertised products and services at marked-down prices. As a matter of fact, there are many that would be willing to buy things at a non-discounted price just to receive the rewards that websites like these give out.
2. You’ve got to have as many affiliates as possible
What’s that old minimalistic saying? Less is more? Well, I’m not going to stand by that as an overarching truth for everything, but I will say it sometimes rings true here. It could seem like the more advertising partners you have, the more exposure and sales you’ll have. That could stand to reason if your primary goal was to increase brand recognition. If you’ve got other goals, though, this strategy won’t suffice.
Let’s say you want to grow your customer base, increase customer loyalty, or increase conversions, for example. Increasing your affiliate partnerships is unlikely to do the trick alone. Instead, you could closely collaborate with affiliates and share your goals with them. You’ll be even more likely to accomplish them if you’re certain that your advertising partners are heavily involved with their audiences.
Simply put, throw the idea of upping your number of partnerships to the wind and focus on quality.
3. Affiliates can do whatever they want in your partnership
Cue a long exaggerated sigh. It can be easy to believe that you don’t have much (or any) authority over your affiliates since they’re not truly your employees. Something you should know, however, is that it doesn’t mean that they can just move willy-nilly throughout your partnership.
When you first decide to work with and hire partners, you can let them know exactly what your expectations and guidelines are. Those who aren’t down to stick to them might not be a good fit for you. Another way to maintain stewardship of your partnerships is to implement positive reinforcement measures to attract new partners and keep your current ones happy. One example of this is motivating your affiliates by offering rewards based on their performance.
If I’m being real, I’ve only scratched the surface here because there are a ton more myths out there. Still, hopefully, this blog post encourages you not to buy into them right away. In the end, the best thing to do if you’re unsure about something is research. Oh, and asking whether it works for you and yours.
Luckily, Purply can lend a hand with that. As an automated affiliate program management tool, Purply allows users to view customized optimization strategies, suggestions, and more for your program in just seconds. Not only is it a suggestion engine, but it’s learning software that holds you accountable for growth. When in doubt, our affiliate sales data can help direct your next marketing move.