Affiliate Marketing Bonus Strategy – The Power of Offering a Bonus to Convert Sales

by Andrew Parsons
Comments are off for this post.
https://youtu.be/AGsV9n5K9-8

This post is a summary where I dive deeper into affiliate marketing and discuss an affiliate marketing bonus strategy that can help you convert sales and earn significantly more revenues.

Now, over the past few years, we have seen many brands turning towards affiliate marketing as it is a highly cost-effective way of generating leads and converting sales. If you want to gauge the popularity of affiliate marketing just take a look at the Google trends for the keyword “affiliate marketing” and you will see a considerable rise over the past 5 years. According to recent estimates, the affiliate marketing spend in the US is around $6.8 billion in 2020 and it is expected to grow by at least 10% in 2021. This gives us a pretty good idea of the positive results that the brands are getting from this new, internet-based marketing model.

Just like in any other marketing method, if you want to get great results from affiliate marketing you will have to come up with the right strategy. Of course you will need to get your basics right, such as promoting the right product, choosing the right affiliate program or product, and making sure that the unique selling points of the product are highlighted in your content. Once you have these basics right, you can expect to generate sales from your affiliating marketing campaigns. Now, there’s a lot more that you can do to improve the results. You have far more power to lure the customers into buying your product or service by offering them a significant discount or bonus.

What Makes Discounts or Bonuses so Effective?

We are all familiar with how effective discount sales promotions are for offline and online stores. Whenever a major brand announces sales discounts on their products, it results in a massive shopping spree from its loyal customers and even from those who are not inclined to buy their products at normal prices. Offering people a discount or bonus through affiliate marketing has somewhat the same effect. So whenever you promote a product or service through affiliate marketing, it is a great strategy to offer a significant discount or bonus to the customers who would buy through affiliate links.

Here are 3 huge advantages that make offering a discount or bonus such an effective strategy.

  1. Discounts or bonuses turn the hesitant leads into convinced customers. Whenever someone hears about your product or service for the first time through your affiliate link, chances are that even if they would be interested in your product or service, they still may be unsure about making a purchase. A bonus or a discount will help sway their decision in your favor. Most affiliate marketing programs don’t factor in these indecisive customers and end up losing a significant amount of potential revenue. So offer a good discount or bonus in your affiliate marketing campaigns to transform the indecisive potential buyers into a loyal customer base for your products or services.
  2. FOMO or the ‘fear of missing out’ is one of the most effective secret weapons of marketers. Making your customers believe that they are missing out on a golden opportunity that may not be available again, gives them an added motivation to make the purchase. Almost all the major brands have been cashing in on FOMO for decades now and you should not feel guilty about applying strategy. If your product or service provides good value to the users, your loyal customers will already have some FOMO built into them about your new products or services. You can add to that FOMO by giving them even more value through limited time, affiliate only bonuses or discounts.
  1. Make sure that the bonus that you offer with your product or service actually helps the customers. It should either fill a gap in your product or service, or it should enhance the experience on top of it to really convert a first time buyer into a loyal customer. This becomes a huge advantage because the potential buyer will see even more value in the trying to solve the problem your product will offer.

The important thing while implementing the affiliate marketing bonus strategy is to make sure that you are giving real value to your customers both in the form of your product or service, and in terms of the discount or bonus that you are offering. If used correctly, this strategy can prove to be a game changer for your affiliate marketing campaigns.

This brings us to the end of the video. I hope you enjoyed it. I would hope you have a better understanding on how to formulate your marketing campaigns with this strategry going forward.

Make sure to hit that like button to show your support and also subscribe to watch highly informative digital marketing videos right here on The Digital Media Insider. We’ll see you in the next one.

If you are looking to get started with affiliate marketing, you can start with Parner with Anthony Program, which I recommend to those who are just getting started with a limited budget.

Regards,

Andrew Parsons

Share this article

Comments are closed.