Affiliate Marketing

How Can You Grow Your Business With Affiliate Marketing?

Affiliate marketing is fast becoming a result-driven marketing strategy in Malaysia. Top brands and businesses have jumped the bandwagon to reach their target audience via affiliate marketing. By collaborating with a leading affiliate marketing platform in Malaysia, you will be able to work with affiliate marketers with a wide variety of target audience across all marketing platforms including social media platforms. 

As the leading affiliate marketing platform in Japan and Southeast Asia, ACCESSTRADE has supported over 15,600 campaigns and 790,000 publishers. 

Hayato Nakata, CEO of ACCESSTRADE Malaysia & COO ACCESSTRADE Singapore shares why affiliate marketing is the way forward for businesses in the near future. 

What Is Affiliate Marketing?

Affiliate marketing is an advertising model in which an advertiser compensates third-party publishers to generate sales or leads to the advertiser’s products and services. First started in 1989, affiliate marketing is now expected to reach a global market size of $12 billion. 

Although affiliate marketing is often confused with referral marketing, there is a big difference between the two. Affiliate marketing provides you with a wider reach, its commission medium is cash, and the media is partner website, social accounts, and mobile app. On the other hand, referral marketing focuses on high engagement, its commission medium is reward points, and media is people’s connection. 

In affiliate marketing, your products and services will be connected to your target audience by publishers through their review websites, cashback website, data segment, social channels such as Facebook, Instagram, and YouTube, chatbot, specialized website, coupon website, paid media, influencers, and mega traffic website. As a performance-based marketing, affiliate marketing focuses on Cost Per Acquisition (CPA), Cost Per Sale (CPS), Cost Per Install (CPI), Cost Per Click (CPC), and Cost Per Lead (CPL). 

How Can Affiliate Marketing Help Your Business Grow? 

First of all, you will be able to broaden your reach to your target audience since you will be working with a big network of publishers. Additionally, since affiliate marketing is a performance-oriented marketing channel, you will be able to grow your business KPI. Last but not least, you will find it easy to manage ROAS/ROI since you will only pay for valid conversions or sales based on your requirement. 

In a case study done by ACCESSTRADE Malaysia, a Malaysian local retail webstore successfully raised its conversion rate up 11% with over 300 publishers joining its campaign. In just a month, more than 5 million clicks were sent to the advertiser site. Through affiliate marketing, the retail webstore was able to utilize promo materials and opportunities with voucher code, commission upsize, and publisher bonus. 

How To Launch Your Own Affiliate Marketing Program?

In general, there are four types of affiliate vendors that you can work with to enjoy the benefits of affiliate marketing namely, in-house development, platform, marketplace service, and network. 

An easy way to find out the best affiliate vendor for your business is by using the vendor assessment criteria which takes into account: 

  • System/dashboard

Find out if the affiliate vendor provides reliable conversion tracking, easy campaign management, and transparent report. 

  • Publisher inventory

It is crucial that the affiliate vendor comes with a big inventory of local publishers. Otherwise, you would not be able to tap into a wide base target audience. 

  • Fee structure

Check out all the fees involved such as campaign setup fee, monthly running fee, and performance fee. 

  • Client servicing 

Learn how great is the affiliate vendor’s support to accommodate your requests or to assist you. It is best to find out if there is fast account management support and on-spot consultation to improve campaign performance. 

What’s Next?

Once you have chosen the best-suited vendor for your business, it is time for campaign development. Firstly, choose your campaign model from CPA/CPS/CPL/CPI depending on your campaign purpose. Next, decide how much you are going to pay to the vendor for each conversion that occurs. Lastly, develop other necessary terms and conditions for your campaign such as cookie period, affiliation rule, rejection term, and payment term. 

You must also take note of the vendors’ requirements such as system integration to track campaign performance by implementing conversion tracking, campaign creatives such as attractive banner designs to push your product or service to the audience, and others such as website traffic, GMV amount, business type, product type, and more. 

A very crucial part that contributes to the success of an affiliate campaign is the post-launch practice that involves updating promotions to keep the campaign active, conversion data validation, efforts to entice more publishers, and further optimization of performance. 

Kickstart your affiliate marketing journey with a trustable affiliate vendor like ACCESSTRADE Malaysia. 

For more info, visit our website or register as an advertiser today!