Why should you start an affiliate program in 2023?

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Boost your revenue this year by starting an affiliate program

A new year brings new opportunities to aim for higher revenue. But e-commerce is a seemingly boundless space, and for a growing business, it might be a daunting one — which is why you should explore the benefits of having an affiliate program.

Affiliate marketing drove $71 billion in e-commerce sales in 2021. Unsurprisingly, affiliate marketing investment is predicted to only increase over the next few years. And with all the advantages of affiliate marketing — and its limited start-up costs — it’s easy to see why businesses should start an affiliate program.

Brand awareness through partnerships

The internet is a big place, and there’s only so much you can do to get your voice heard. Effective publishers have their audiences — readers and users who are already engaged in your niche. In other words, they’re primed and perhaps even actively looking for offers like yours!

In the era of influencers, consumers turn to sources they trust for candid experiences of products and services. Searching for reviews before purchasing has become an essential part of the customer journey. Partnering with affiliates in your vertical will lend you credibility in the vast e-commerce landscape.

You might also consider working with affiliates in other regions. Affiliate marketing can open doors to foreign markets and help you scale globally.

Increased traffic and improved conversion rates

By working with affiliates, you can get visitors to your site without losing money to campaigns that don’t convert. Many platforms’ ad structures are pay-per-click — meaning you might get a boost in traffic, but that doesn’t necessarily lead to conversions.

With your affiliates, you control how your resources are spent. Affiliate program incentives can be tied to performance and sales; you would only pay commissions for quality traffic that converts. Affiliate marketing is a low-risk strategy with a good return on your investment.

Easy management (with the right tools!)

Once you establish your affiliate program, you’ll need to form relationships with publishers and regularly supply offers to distribute to their audiences. While this might become a strain on your resources, there are tools and platforms you can use to ease the work.

Management can be done in-house, but you might opt to work with an agency. Recruiting affiliates in the wild can also be challenging, so you might consider working with an affiliate network where thousands of publishers actively seek partnerships.

FMTC provides solutions that can streamline affiliate program management even more. We’re integrated with 20+ networks to make it easy to find affiliates in your vertical. Our Deal Feed and Product Feed provide a simple way for your affiliates to obtain your offers to promote to their audiences.

Start your affiliate program today

Businesses use affiliate marketing to cast a wide net and grow their revenue. And managing a program doesn’t have to be complicated or time-consuming! Get started with FMTC’s Freemium merchant services to get the tools you need to find the right affiliates and get your offers in front of more customers.

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