How to Boost Your Sales with Affiliate Marketing in 2024

How to Boost Your Sales with Affiliate Marketing in 2024

By Vinsy | Influencer Marketing , How To , Affiliate Marketing | 20 Dec 2023

In the ever-evolving landscape of digital marketing, staying ahead of the curve is crucial for brands and agencies. One strategy that continues to gain momentum is influencer affiliate marketing. In this guide, we'll explore the power of this hybrid approach, delving into why it's a game-changer for boosting sales in 2024 and how StarNgage can be your go-to platform for influencer collaboration and campaign management.

What is Influencer Affiliate Marketing?

Influencer affiliate marketing is a dynamic blend of two powerful strategies: influencer marketing and affiliate marketing. It involves partnering with influential individuals who promote your products or services to their engaged audience, earning a commission for each sale generated through their unique affiliate links.

Why Include Influencers in Your Affiliate Marketing Program?

Influencers bring a personal touch to your affiliate marketing efforts, tapping into the trust and authenticity they've built with their followers. This direct connection can significantly impact purchase decisions, driving higher conversion rates for your brand. By integrating influencers into your affiliate marketing program, you amplify your reach and enhance brand credibility.

Key Affiliate Marketing Stats that Every Marketer Should Know

  • As of 2023, the thriving affiliate marketing industry has surpassed a significant milestone, boasting a valuation exceeding $17 billion. This marks a substantial surge from the $13 billion recorded in 2016.
  • According to Google Trends data, the online searches for “Affiliate Marketing” on Google have doubled since 2016.
  • Experiencing consistent growth, affiliate marketing has been generating a 10% increase in revenue annually since 2015, a trend that continues to persist into the year 2023 according to Statista.

The 3 Pillars of Affiliate Marketing

  • Affiliate Networks

Explore the expansive network of influencers on platforms like StarNgage to find the perfect partners for your brand. These networks streamline the collaboration process, providing a centralised hub for managing affiliate relationships.

  • Tracking and Analytics

Implement robust tracking systems to monitor the performance of your affiliate marketing campaigns. Understand what works and what doesn't, allowing you to refine your strategies for optimal results.

  • Commission Structures

Design enticing commission structures that motivate influencers to drive quality traffic and conversions. A well-crafted incentive system ensures a mutually beneficial partnership, aligning the interests of both your brand and the influencers.

How to Get Influencers to Become Your Affiliates

  • Identify Your Ideal Influencers

Leverage StarNgage's comprehensive database to find influencers aligned with your brand values and target audience.

Here's how you can save your time and find the ideal influencers on StarNgage influencer marketplace to become your affiliates:

  1. Login to your advertiser’s account on StarNgage+ and click “Search” under “Find Influences” on the left panel.
  2. Search for the influencers based on your requirements by utilising StarNgage's advanced search filters to narrow down your search. You can filter by platform, niche, location, follower count, engagement rate, and more.
  3. Browse through influencer profiles to assess their content, engagement, and audience demographics. Look for influencers whose style aligns with your brand's image and values.
  4. Use our influencer outreach template and reach out to the influencers whom you would like to work with.
  5. Alternatively, you can also create an Instagram influencer campaign to find influencers who match your brands.
  • Invite Your Existing Customers/Brand Ambassadors to Promote

Reach out to your existing customers or brand ambassadors with personalised invitations that acknowledge their unique contributions to your brand. Clearly outline the benefits of participating in your affiliate program and how it aligns with their role as loyal advocates. 

Below are a few ways that you can utilise StarNgage Pro influencer marketing tools to look for brand ambassadors if you haven’t launched any brand ambassador programs yet:

  1. Create a landing page to recruit brand ambassadors
  2. Upload your existing customer list to look for brand ambassadors or affiliates
  3. Use tag tracker or hashtag tracker to find out who have featured your brand on social media platforms
  • Craft a Compelling Pitch

Clearly communicate the benefits of your affiliate program, emphasising how influencers stand to gain from the partnership. Highlight unique selling points and the potential for long-term collaboration.

  • Provide High-Quality Resources

Equip influencers with the tools they need to succeed, including engaging creatives, exclusive discounts, and valuable content. The more support you offer, the more invested and motivated your affiliates will be.

8 Effective Tips, Strategies & Best Practices for Affiliate Marketing to Boost Sales

  • Define Clear Objectives

Clearly outline your goals for the influencer affiliate marketing program. Whether it's increasing brand awareness, driving sales, or expanding market share, a well-defined objective guides your strategy and performance metrics.

  • Build Strong Relationships

Foster open communication and collaboration with your influencers. A strong relationship is the foundation for successful affiliate marketing campaigns. Use a creator relationship management (CRM) software to manage your relationships with your affiliate to save your time.

  • Segment Your Affiliate Partners

Recognize that not all affiliates are the same. Segment them based on their performance, audience, and promotional methods. Tailor your strategies to cater to the strengths and preferences of different affiliate segments.

  • Establish Competitive Commission Structures

Motivate affiliates by offering competitive commission rates. A well-structured commission system encourages affiliates to put in the effort to drive quality leads and conversions.

  • Provide Real-Time Analytics

Equip affiliates with real-time analytics and reporting tools. Transparency in performance metrics enables affiliates to optimise their strategies, fostering a sense of partnership and accountability.

  • Optimise for Mobile Users

More than 50% of the people who visit affiliate sites use phones or tablets. Ensure that your affiliate marketing materials and landing pages are mobile-friendly. With a growing number of users accessing content on mobile devices, optimising for mobile enhances the user experience and conversion rates.

  • Implement Retargeting Strategies

Incorporate retargeting into your affiliate marketing campaigns to re-engage potential customers who didn't convert initially. This can be a powerful strategy to capture those who showed interest but didn't complete the purchase.

  • Promote Exclusive Offers

Provide affiliates with exclusive offers and promotions to entice their audience. Exclusive deals create a sense of urgency and exclusivity, driving higher conversion rates. Create a personalised link and promo code to track your campaign performance.

In A Nutshell

Incorporating influencers or your brand ambassadors into your affiliate marketing endeavours is not just a strategy for 2024; it's a visionary approach to building enduring brand advocacy. By extending invitations, offering exclusive perks, and fostering collaborative relationships, you create a synergy that propels your brand forward. Embrace the collective power of influencers and brand ambassadors, and watch as your affiliate marketing efforts soar to new heights, driving unparalleled sales growth and brand resonance in the year ahead.

Join StarNgage as a brand or an agency and fill in the form below to request for a demo!

  • Affiliate marketing
  • influencer affiliate marketing
  • Affiliate marketing best practices
  • Performance-based marketing
Vinsy
Vinsy

Vinsy is the product marketing manager at StarNgage with years of experience in project management and influencer marketing. Thanks to project management she has a thorough understanding of the digital marketing landscape and importantly the role influencer marketing plays alongside, or as a support to, other marketing tactics such as content marketing and social media marketing. With her expertise, she can come out with ideas of an influencer campaign that aligns with your brand and resonates with your target audience.