How to Do Affiliate Marketing On Social Media: A Step by Step Guide
How to Do Affiliate Marketing On Social Media: A Step by Step Guide
The digital marketing era has shown that social media is not only a social platform but also a potent marketing tool. At the same time, social media has made affiliate marketing accessible to a wider consumer group, not just to people with high recognition on platforms.
With 85% of customers admitting to conducting product research online before buying from an online store, brands can take advantage through affiliate marketing since a bulk of product research occurs through reviews on social media.
The aim of affiliate marketing is product promotion, and this can happen through blog posts, promo codes from influencers, or referral links. Today’s blog post is dedicated to individuals and eCommerce brands that want to know how to do affiliate marketing on social media.
What is Affiliate Marketing on Social Media?
Affiliate marketing is a marketing strategy designed for digital advertising. In affiliate marketing, third-party vendors or users receive an earning for promoting a brand's product on their social media pages.
Affiliate marketing is concerned solely with product promotion in a means that persuades consumers to purchase the product or at least respond to any of the brand's call-to-action (CTA). In knowing how to do affiliate marketing on social media, you have to be aware of all the components of affiliate marketing. These components are the affiliates and merchants or brands.
- Affiliates: Affiliates are individuals who promote your brand’s products and services in exchange for commissions earned based on referrals. The range of an affiliate is not limited to celebrities, and affiliates can be customers, influencers, bloggers, and the likes.
- Merchants and Brands: These are businesses interested in promoting their products and services. Brands that have an online presence are often the ones that benefit from affiliate marketing. Brands and merchants manage and track the affiliate programs via links and pay commissions to respective affiliates.
Affiliate Marketing Case Study: Royal Elastics
A prime example of how to do affiliate marketing on social media is with Royal Elastics. Royal Elastics is a niche footwear brand known for making trendy casual shoes for both men and women. The successful practice of Royal Elastics can be summarized like this:
In an attempt to make headway in the North American market, Royal Elastics decided to delve into affiliate marketing. And they chose the top of the best SaaS platform, AllValue, to help facilitate this transition.
AllValue’s grand strategy involved employing the services of Instagram micro-influencers to kick start an awareness campaign and providing them with two pairs of sneakers worth 200 USD to enhance enthusiasm. The campaign has made Royal Elastic amass 160,000 page views across platforms and over 300 percent order increment in just three months.
Besides influencer marketing, Royal Elastics opened up the affiliate program to anyone with an active social media presence. The aim is that the users promote the products on their pages and get rewarded based on sales incurred due to their promo codes or affiliate links.
Affiliates can even earn rewards if new users visit the Royal Elastic site using an affiliate link, and new users can get discounts on their purchases by utilizing affiliate codes. A win-win situation for all parties involved.
Benefits of Social Media Affiliate Marketing for Brands
Affiliate marketing is a lucrative field so much that the spending budget for affiliate marketing in the U.S. is expected to reach $8.2 billion by 2022. Some benefits of social media affiliate marketing for brands are:
- Low start-up cost
Affiliate marketing requires less start-up cost from your brand. The work of an advertising team goes to affiliates who get to choose how they will market your products. The only effort required from your brand is in the affiliate vetting process.
- Low risk
Affiliate marketing operates based on results. If an affiliate marketer is not producing results, the brand does not have to pay. The only time money leaves your brand is when a purchase occurs using the referral code of an affiliate. The affiliate bears the brunt of the cost.
- Increased brand traffic from mirror customers
In selecting affiliate marketers, you ensure that the affiliates are people who find interest in your products and possess an audience with similar traits. Whenever an affiliate promotes your product, you are guaranteed to receive traffic from consumers who find your products useful.
How to Do Affiliate Marketing On Social Media?
Running an affiliate marketing program on social media is quite straightforward, especially when brands use the right tools for the job. Brands can adopt affiliate campaigns by doing the following:
- Set up your affiliate program
This is the first step in adopting how to do affiliate marketing on social media for your brand. In setting up your affiliate program: you should ensure that your email provider allows affiliate links, and the affiliate links should be profitable, relevant to your niche, and evergreen.
Lastly, you should include an email sequence that is tagged and trackable, keeping in mind that you have to create conversion and commission links.
- Choose the right social media platform
The three things to keep in mind are the ad type, sales process, and target audience. The sales process covers who you are selling to and how long it would take for a sale to occur. The target audience is figuring out what social media platform your audience engages on the most.
- Create content for affiliates on social media
The beauty of affiliate marketing is that affiliates create the promotion content. On your end, you are to create content that consumers would be interested in and that the affiliate marketers can spin to generate engagements. This can be in the form of raffles, text posts, images, or videos.
- Track the results
One of the best ways to track affiliate marketing results is through comparing data from the affiliate links and referrals with defined goals of your brand regularly. Tracking allows you to collate information on what affiliates or content are producing results to enable you to create better affiliate links for the future.
There is a way to do affiliate marketing, and here is how to do affiliate marketing on social media successfully. Taking affiliate marketing step by step and following the tips provided above would place brands at the forefront of running affiliate marketing on social media effectively.
For those who consider the creation of affiliate links and other intricacies in affiliate marketing a challenge, there are software tools that exist to make the process smoother. Take AllValue, for instance.
AllValue is an eCommerce software tool equipped with all the necessary features to handle all your eCommerce goals and objectives. AllValue creates affiliate links and landing pages for affiliates depending on the goals of your brand. At AllValue, the interests of customers are paramount.
Visit the website and sign up for a 15-day free trial to begin your AllValue experience!