If you are new to affiliate marketing, watch this video first to see what its about and how you can get started:
The demand for affiliate marketing is booming and has become the primary marketing strategy for many companies across the globe. Digital marketers in Singapore are focusing more on profitability due to its continuous reliability. The performance-driven platforms that drive the industry give marketers increased return on investment (ROI) that cannot be achieved through other forms of marketing.
According to a recent report, e-commerce firms revealed that 12-20% of their revenue comes from affiliate marketers. The polled entrepreneurs also stated that affiliate marketers offer more results than ATL advertising.
Affiliate marketing is becoming popular in Singapore as evident from the number of companies in different industries that hire affiliates to sell their products and services for a commission. This form of marketing leads to more sales and loyal customers than most of the traditional marketing strategies.
Before we look at how to achieve success in affiliate marketing in Singapore, here are some statistics to give you a clearer perspective about it.
- 81% of brands from across the globe use affiliate marketing
- Affiliate marketing accounts for 7.5% of total digital spending among retailers
- 38% of digital marketers consider affiliate marketing one the most reliable and effective customer acquisition methods
- On average, affiliate marketing helps businesses increase customer base by 45.7%
Affiliate marketing is one of the greatest marketing tips to earn online today. Basically, it involves finding a product that you like, funneling traffic to the website ad, and earn a sizeable percentage of the sale.
How to Increase Your Affiliate Marketing Efforts
First and foremost, remember to always build a list if you are doing affiliate marketing. This is the most important thing and so if you haven’t started a list already, then you really must do so. It is the only way to build long-term profits with security in this industry. Here are some killer affiliate marketing tactics:
Focus on Increasing your Traffic
Increasing traffic to your website is one of the most critical aspects of a successful affiliate marketing campaign. If potential customers are not visiting your site, your affiliate marketing will not yield the expected results. Placing affiliate links at different locations on your website such as banners and widgets will not help you increase traffic.
One of the best ways of achieving this goal is by diversifying your traffic sources. One mistake that most marketers make is relying on SEO only for their traffic. Use paid ads, email campaigns, and social media platforms that are popular in Singapore such as Facebook, Instagram, and Twitter to get real traffic.
Understand your Products
Research to get a clear understanding of the product features, specifications, and capabilities before starting your affiliate campaign. The most successful affiliate marketers in Singapore limit themselves to products that are reputable and relevant to the target customers.
Ideally, the best products to promote are those that solve a problem for your target market. Do not make the naïve mistake of trying to sell a multitude of products/services to your audience to earn more commissions. Make sure that the product/service delivers what it promises in the pitch to avoid compromising your relationship with the customers.
Concisely, get as much information about the products or service then create compelling content. The content should describe the product/service to the customers. Make sure that you highlight the unique selling points so that your review and description stands out from the crowd.
Knowing everything about the product will not only make you feel confident when talking about it to a potential customer, but also enable you to respond to questions and queries from customers who are not sure if they should go ahead and purchase the products or seek the service.
Don’t Focus on Just One Product
The beauty of affiliate marketing is that you can promote more than one product to get commissions from different companies. This kind of diversification will ensure that you always have a stream of income if an unprecedented change in market trends occurs.
For example, if the merchant decides to increase the price of the products or the quality deteriorates, your business will not take a huge blow, as you will still have other products that are doing well in the market. In addition, a common mistake that marketers make is believing that they can only use Google AdSense and Amazon to monetize the websites. There are hundreds of affiliate programs in every niche that you can leverage to become a professional affiliate marketer in Singapore.
Include Calls to Action in your Posts
Call to Actions informs potential customers who come across your product/service review to take the desired action. Make sure that every post that you publish on your website or social media platforms has a strong CTA. The CTA should tell the prospects what they need to do. The content in the post should give prospects reasons why it is essential for them to take the desired action.
Carry out A/B tests to identify the ideal CTA for your affiliate marketing campaign.
Reveal your Affiliate Relationships
A decade ago, affiliates were afraid to disclose to potential clients that they will get a commission if they purchase the product via their affiliate link. Nowadays, informing prospects that come to your website that you are using affiliate links can help you earn their trust and confidence. Disclosing such information will help paint a positive image of your brand and chances are that the clients will buy the product through your link.
Concisely, the full disclosure shows the customer that you are confident that the products you are promoting are of high quality and will deliver the expected results. Make sure that the affiliate disclosure is evident on both mobile and desktop versions of your website
Understand your Audience Needs
The first thing that you need to note is that affiliate marketing is all about providing credible solutions to the readers. Before you start promoting a product, carry out extensive research to know your audience needs and preferences. Knowing precisely what your audience is looking for and their expectations from a particular product will give you a higher cutting edge in the competitive affiliate marketing sphere.
The research results will help you select the right products to promote and also fine-tune your website content. Do not try to force your visitors to purchase products just because you are an affiliate marketer with the company.
Your primary goal should be to build a relationship with the potential customers first before attempting to promote the product/service and affiliate links to them. Value your audience over profits if you want to become a successful affiliate marketer in Singapore.
Focus On Your Niche
Earlier on, we discussed the importance of not relying on one product. This does not mean that you should try to market different products from different industries. That never works. Creating multiple websites in different niches to earn more commissions quickly is a remedy for failure. It is not possible to stay laser-focused on the main objectives and remain consistent if you are trying to capitalize on multiple niches at the same time.
Try to focus on your niche and narrow down on two or three products that are in line with your customers’ needs and preferences. One website that focuses solely on one niche will give you a better chance to succeed as an affiliate in Singapore and becoming recognized as an authority in that particular niche.
Use Video to Increase Conversions
Over the past couple of years, video has really taken the Internet by storm and whether you like it or not, in order to keep with the times and produce maximum profits, it has got to be an integral part of your marketing. The good news is it’s not as hard as you may think and is quite cheap. The important thing is to have your video follow onto the affiliate program that you’re promoting after it has finished playing.
Use A Link Cloaking Service
Nowadays, particularly in the Internet Marketing niche, people are becoming more and more aware of affiliate links, and as a result, less commissions are being made. Therefore, it is a good idea to use a link cloaker service to protect your links. There are some free ones and paid ones out there, and so it is a good idea to do a Google search and find a suitable one. However be careful as Google is becoming more adept at detecting and penalising link cloaking.
Offer Bonuses For Buying
This is a great way to increase conversions. Just create a nice bonus to go with a product and then tell people when they buy to send their receipt to you in order for you to send them their bonus. This is open and up front and since it benefits both parties, it works really well.
The above actionable tips will help you become the most successful affiliate marketer in Singapore by ensuring that you channel your time and efforts to the right niche and products and services.
Affiliate Marketing Trends
Here are three affiliate marketing trends that will become more prominent in the coming years.
Importance of Cross-Device Tracking
The increase in the number of people who use mobile platforms to transact and place orders has increased tremendously, and the numbers are not expected to slow down any time soon. Retailers in Singapore are now offering high commissions to marketers to promote their mobile applications. Based on these facts, it is important for Singapore digital marketers to come up with cross-device tracking systems. At the moment, only a handful of online businesses have enabled mobile app sales attribution, but this is expected to change in the coming months.
Use of Quality Content
This year, the importance of using quality content will become more prominent and important to professionals in the affiliate marketing realm. Needless to say, quality content results in more credibility, better SEO, and highlights the products and services offered by a company in a more professional and modern way.
Influencer Marketing will Record an Uptick
The current market surveys and reports show that influencer marketing will mark an uptick. In spite of the fact that discount and promo codes will be the core revenue streams for most merchant affiliate programs, healthy relationships between retailers and content developers will help companies to diversify their income streams.
Finally, affiliate companies will embrace the famous “Refer-A-Friend” programs to benefit more from their large clientele base and lower the total cost per sale. Social media connections and shareable referral links will make this affiliate marketing model more fruitful and lucrative than the traditional marketing methods.
How to Find Affiliate Partners in Singapore
Affiliate partners aren’t going to find you. Not unless you’re a well-established brand whose news travels like a conflagration.
Otherwise, you might have to dig through the trenches and find one yourself. Luckily enough, we plan to show you how and even offer you some quick pointers on how to retain them.
How about we cut to the chase and list up ten tried and tested tips on how to find your first group of affiliate marketers in Singapore?
Find a way to make your affiliate program visible
Affiliate partners aren’t going to sign up for your program until they first know that it exists. So how about you put it out there or somewhere they can all see upon landing on your site? You can place it in the footer section of your website because that’s the first place your affiliates are likely to scroll to when trying to locate the program.
Invite Niche Bloggers and Influencers to Review Your Products
Try searching for the influencers in your niche and make a point to reach out to them. Once you find one, you might want to focus on establishing a long-term relationship with them. The idea of letting them review your affiliate program might have to rest in the backburner for a while, or until they get to test out your products first. Only then will you introduce them to your affiliate program and let them consider publishing a comprehensive review on it.
Offer VIP Conditions for the Top Affiliate Partners
You need something to motivate your affiliates to work harder. You might want to create special performance bonuses for best-performing affiliates. That may also mean offering them higher commissions than the rest of the affiliates that are signed up with you.
Manually Search for Websites that complement your products and Services
Search for blogs and websites that you think best complement your products and services and ask them if they can join your program. All they have to do is sign up for the program and write a comprehensive review of your program. Alternatively, they could just add your affiliate link on their site, and they’re good to go.
Be Clear on Your Terms
Don’t complicate things. You have a better chance of getting more people to enrol for your affiliate program when everything is clear and simple enough for everyone to understand. Be sure to talk about your commission structure, bonuses, and the available payout options. If your affiliates still reach out to you with more questions, that means you haven’t done a good job explaining everything to them on your site.
Growth-hack Your Products
Come up with strategies on how to make your affiliate program grow with time. You want to enrol more affiliates and, in the process, acquire even more customers and users. Hypothesize, prioritise, and test different growth strategies and pick one that you think has the potential to grow your program into something big.
Create a Page and Dedicate it to the Program
There has to be a page that’s specifically dedicated to the program. This should be a well-designed page that covers all there’s to know about your program.
Here’s a list of all the things you shouldn’t forget to include in the page:
- Commission: How much S$ will your affiliate be making from every sale they make? Be sure to mention how they can track their sales and keep tabs on their earnings.
- Talk about cookies and their length. How will you be making sure that every sale is tracked, even in situations where a customer decides to go through their browser history and clear their cookies?
- Who receives the commission? Is it the first affiliate, the last one, or all referring affiliates?
- When are payments dispensed, and how? What are your payment options and so forth?
- And lastly, you want to create a FAQ where you’ll be addressing all the questions your affiliates ask.
Offer an Attractive Commission
It will be hard to convince more affiliates to sign up for your program if your commission is on the extreme low. Talking about 5-10% commissions. Unless the product you’re selling is costly, you’d want to make sure that your commissions are enticing enough to bring more affiliates on board.
It’s true; no one will want to promote your products for a dollar or two. A good recommendation would be to consider raising your commission to a range of 25% to 30%, especially if you’re running a SaaS.
Have an Amazing Product
This one should go without saying – or you could try imagining the hardship that goes with marketing a product that’s hard to sell. Believe me; this is the last situation you want to put your affiliates in.
Offering high commission won’t help. Your affiliates have to find your product interesting enough to even want to be associated with it. Next, you want to make sure the product can attract customers naturally without necessarily pushing your affiliates to hard-sell.
Join an Affiliate Group or Community
Find out if there’s an affiliate community around you that you can join. This should help you get in touch with more affiliates that you can enrol for your program. This is also a good platform for you to establish some authority. Find out about some of the problems your affiliates encounter, and offers some quick pointers that they can use to circumvent them. Be sure to mention that you run an affiliate program that they should consider joining if they aren’t registered with a different program or if they’re interested in jumping ship.
Provide Additional Supporting materials such as Banners, Email Templates, and Videos that your affiliates can use
Show your affiliates that you actually care by being supportive. You can do this by offering them all the support and materials they need to be more effective at their job. You can start by creating banners and writing promotional emails that your affiliates are free to use. You can also provide email templates and converting articles that they can use to target prospective customers with, and get them to consider making a purchase.
Give your Affiliate Free Gifts
There’s nothing wrong with offering free gifts to your new affiliates. This can be anything – a free product, software, or a branded T-shirt. The point is to have something that will entice your affiliates well enough to consider signing up for your program.
It’s upon you decide if you want to gift them immediately they sign up on your site or after they’ve made their first sale.
Use PPC or Facebook Ads to Find New Affiliates
There’s nothing wrong with running a PPC campaign or publishing Facebook Ads to target new affiliates. This is even more effective as it allows you to target potential affiliates by niche.
You may also want to make sure that you have an explanatory landing page that potential affiliates will be directed to after clicking on your ad. This page should bear every little detail about your program for them to decide if it’s worth joining.
Find Out About Affiliate Events Happening New You and Join them
Do some little bit of research to find out about the affiliate events happening in Singapore. Make a list of all the events that you find convenient and offer to be part of them. Singapore has plenty of these events. So, it shouldn’t be that hard to find one that’s convenient enough for you to join.
MediaOne offers one of the best affiliate marketing programmes in Singapore. If you refer clients to us you get 30% of the gross income within 30 days of collection. No need to sell! If you wish to set up a division or an agency to resell our services we offer you up to 60%. It is very good income because if you help with a $10,000 deal you can get $3,000 (not bad – pays rent!) and up to $6,000 (pays for 2 staff and more!). Why re-invent the wheel when you have the best robust, Award-Winning, ISO-Certified SEO in Singapore at your disposal. Call Tom at 6789 9852 for a friendly chat over coffee today.