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Why Successful Businesses Embrace Affiliate Marketing

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Why Successful Businesses Embrace Affiliate Marketing

Opinions expressed by Entrepreneur contributors are their own.

Even though the marketing world has seen some significant new trends and technologies, one strategy has impressively risen in popularity in recent years: affiliate marketing.

While affiliate marketing has been around for years, it has recently taken a front seat in the media as a “side hustle.” Millennials and Generation Z have taken a recent liking to the idea of earning money passively, and affiliate marketing has proven to be a tried and true method for doing so.

And why is it so popular? I’ll give you two big reasons:

  1. It’s easy for brands and businesses to manage.
  2. Financially speaking, it’s a win-win.

Let’s break down how affiliate marketing reached this point and the benefits your brand could miss.

Related: 5 Ways Entrepreneurs Can Boost Their Visibility with Affiliate Marketing

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The origin of affiliate marketing

First, a little history lesson. If you didn’t know, the concept of affiliates came from the PC Flower and Gifts founder, William J. Tobin, originating in the late 1980s and early 1990s. But it wasn’t until Amazon that the program became more fleshed out and open to the public.

Amazon’s idea was to allow individuals to promote their products and earn commissions on sales generated through their referrals. This concept, of course, was revolutionary as it introduced a performance-based marketing approach, where brands only paid for actual results, such as sales or leads.

Over time, this model gained traction, and when paired with our current technological advancements, it became a mainstream marketing strategy that brands couldn’t afford to participate in.

Related: 3 Tips to Get Started with Affiliate Marketing

The reasons behind the craze

Enter the current day, and affiliate marketing has exploded in popularity. Its current rise can be linked to several key factors.

First, the exponential growth of e-commerce over the past decade has been a significant motivation for affiliate marketing, with more people shopping online than ever. More online shopping has created more opportunities for creators or affiliates to promote the products and services they love while also gaining a little commission.

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For marketers and brands — especially small businesses – affiliate marketing is attractive thanks to its low cost and low barriers to entry. On a tight budget, affiliate marketing is a great way to maximize ROI without breaking the bank.

Top that off with the rise of dependency on social media for creators and brands – specifically influencer marketing. It’s easier than ever for people to build an audience online and generate more revenue both for themselves and for brands through the simple process of promoting products and services.

With all that in mind, it’s no surprise the affiliate marketing industry is growing so rapidly, being worth over $17 billion today. Now, let’s look at why the rise of affiliate marketing is a win for brands.

Related: When the World Goes Dark, Will Your Business Keep the Lights On?

Benefits for brands

Brands have much to gain from participating in affiliate marketing and a lot to lose by ignoring it. Here are just a few of the reasons why…

Firstly, it is a great extension of their marketing team — using their affiliates to connect with new and eager audiences at a lower cost.

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Secondly, it enhances a brand’s credibility. Positive reviews and recommendations from trusted affiliates can significantly boost a brand’s reputation.

Consumers tend to trust product endorsements from individuals they follow and admire. Think about it – when was the last time you purchased something solely because you saw it in a video or a photo?

Furthermore, affiliate marketing can improve a brand’s SEO efforts. Backlinks can act as roads to your website. With backlinks ranging from a variety of affiliate websites, you end up creating a large roadmap of products that ultimately lead to your website and improve your visibility efforts.

What’s next for affiliate marketing

With all of that said the future of affiliate marketing looks highly promising.

We will likely see a surge in personalization efforts. With tracking systems and the evolution of content marketing, brands can tailor their affiliate marketing strategies to individual consumer preferences to deliver a more personalized and engaged shopping experience.

Additionally, we have seen new social media platforms pop up quickly in recent years — the more, the merrier. More platforms = more opportunities for success.

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Lastly, the future of affiliate marketing will be shaped by evolving consumer preferences and online shopping behaviors. With an increasing number of consumers relying on online platforms for their shopping needs, affiliates and brands will continue to have new opportunities to drive interest and improve ROI.

As brands continue to realize the benefits of this marketing strategy, it is likely to remain a prominent fixture in the marketing landscape. By leaning on their affiliates, brands can expand their reach, improve credibility, and drive revenue while providing affiliates with a profitable and flexible income source.

So, should your brand embrace affiliate marketing? The answer is clear: YES!

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AFFILIATE MARKETING

How to Control the Way People Think About You

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How to Control the Way People Think About You

Opinions expressed by Entrepreneur contributors are their own.

In today’s digital age, where personal branding and public perception play a vital role in success, strategic PR efforts have become more important than ever. Ulyses Osuna, the founder of Influencer Press, joined our show to share valuable insights on the significance of PR, the evolving landscape, and the keys to achieving business growth while maintaining a fulfilling personal life.

One of the key takeaways from the conversation was the importance of strategic PR efforts in building a personal brand and shaping public perception. Ulyses emphasized that PR is not just about getting media coverage; it’s about controlling the narrative and shaping how others perceive you. By strategically positioning yourself and your brand through effective PR, you can influence public opinion and establish yourself as an authority in your field. Another crucial aspect discussed was the power of leveraging relationships and connections.

Ulyses highlighted the “Buglight Concept,” which involves utilizing the support and connections of others to achieve success. By building strong relationships and leveraging the networks of influential individuals, you can significantly expand your reach and influence. Ulyses’s own success with Influencer Press is a testament to the power of connections in the PR world. While professional success is undoubtedly important, Ulyses also stressed the significance of balancing personal time and fulfillment. In the pursuit of business growth, it’s easy to neglect personal well-being and relationships. However, Ulyses emphasized that true success lies in finding a balance between professional achievements and personal happiness.

By prioritizing personal time and fulfillment, entrepreneurs can sustain long-term growth and avoid burnout. In the ever-evolving landscape of PR, Ulyses highlighted the need for a clear mission when seeking press coverage. He emphasized the importance of aligning your brand with a cause or purpose that resonates with your target audience. By having a clear mission and purpose, you can attract media attention that aligns with your values and goals, ultimately enhancing your brand’s reputation and reach. Additionally, Ulyses discussed the importance of pricing services correctly and finding the right balance between personal involvement and business scalability.

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The conversation also touched upon the dynamics of client relationships and the impact of showcasing external support. Ulyses emphasized the value of building strong relationships with clients and going above and beyond to exceed their expectations. Furthermore, he highlighted the importance of showcasing external support, such as media coverage or endorsements, to establish credibility and attract new clients. Ulyses’s own podcast, The Blacklist, where he shares insights and interviews successful entrepreneurs, was also discussed. He explained that launching the podcast was a way to give back to the entrepreneurial community and share valuable knowledge.

By continuously learning from others and implementing breakthrough ideas, Ulyses emphasized the importance of immediate action and continuous improvement for business growth. In conclusion, strategic PR efforts are essential for building a strong personal brand and controlling the narrative in today’s digital age. By leveraging relationships, finding a balance between personal and professional life, and having a clear mission, entrepreneurs can shape public perception, expand their reach, and achieve long-term success. Ulyses Osuna’s insights serve as a valuable guide for those looking to navigate the ever-changing landscape of PR and personal branding.

About The Jeff Fenster Show

Serial entrepreneur Jeff Fenster embarks on an extraordinary journey every week, delving into the stories of exceptional individuals who have defied the norms and blazed their own trails to achieve extraordinary success.

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Set Your Team up for Success and Let Them Browse the Internet Faster

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Set Your Team up for Success and Let Them Browse the Internet Faster

Disclosure: Our goal is to feature products and services that we think you’ll find interesting and useful. If you purchase them, Entrepreneur may get a small share of the revenue from the sale from our commerce partners.

According to TeamStage, 31 percent of employees waste about a half hour each day, and the top 10 percent of them can waste as much as three hours in a day. Part of that might be attitude, but the other part might be hangups caused by internet speed and advertisements. To nip that lost time in the bud, consider equipping yourself or your team with a tool to help stay on task.

From April 15 through 21, this five-year subscription to Control D Some Control Plan is on sale for just $34.97 (reg. $120). This is the best price for this deal online. This tool is designed to help users browse and use the internet faster while also blocking ads.

Control D is described as a “one-touch solution” for taking control over the productivity of your computer and internet usage. The deal supports use for up to ten devices, and it empowers each user to block advertisements, enjoy faster browsing, and set internet safety rules and restrictions for kids.

Control D’s bandwidth is substantial. It can accommodate up to 10,000 custom rules, block more than 300 servers, support multiple profiles, and unlimited usage. This robust and well-designed tool is a reliable option for any business leader who wants to liberate themselves or team members from distractions online.

Control D is rated a perfect 5/5 stars on Product Hunt.

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Remember that from April 15 through 21, this 5-year subscription to Control D Some Control Plan is on sale for just $34.97 (reg. $120)—the best price on the web.

StackSocial prices subject to change.

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Grab Microsoft Project Professional 2021 for $20 During This Flash Sale

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Grab Microsoft Project Professional 2021 for $20 During This Flash Sale

Disclosure: Our goal is to feature products and services that we think you’ll find interesting and useful. If you purchase them, Entrepreneur may get a small share of the revenue from the sale from our commerce partners.

If you’re in charge of a business and you don’t have a clear understanding of how to approach projects in an organized and effective manner, that’s a problem. Like many leaders before you, consider leaning on software that’s designed to streamline the project workflow for companies representing a wide range of industries.

A rate that will only be available from April 19 through 22, you can get Microsoft Professional 2021 for just $19.97 (reg. $249).

This well-reviewed software comes with a range of pre-built templates that you can use to set your project off on the right foot. It supports a number of helpful functions like building complex schedules with varying timelines, auto-populating those schedules in instances where it can, and submitting timesheets that can be distinguished by project work and non-project work.

Some additional features of Microsoft Project Professional that can help entrepreneurs and their teams include what-if scenario generation capabilities. Microsoft Project Professional also allows you to sync projects on your local server with those online, which is massively helpful for remote teams.

Its comprehensive and well-curated offerings are part of why Project Professional is rated an average of 4.7/5 stars on the Entrepreneur Store.

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Don’t miss this limited-time opportunity to make a worthwhile investment in your business for the price of a beer at the ball game.

A price that will only last from April 19 through 22, you can get Microsoft Professional 2021 for just $19.97 (reg. $249).

StackSocial prices subject to change.

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