New and existing businesses are regularly looking for ways to garner attention and onboard customers. In some cases, businesses looking to capture customers will do so by turning the volume of their marketing efforts up to 11. This can include maxing out the money spent on SEM, social media advertisements, and affiliate marketing commission rates to incentivize brand growth.
But not all marketing efforts work, and spending too much too quickly can backfire. Businesses just getting started might feel overwhelmed when looking for marketing assistance, with many websites telling them X number of things they need to begin doing to achieve success. While there are some methods that work while creating a marketing strategy, there’s no exact combination that is needed to make your business successful.
If you’ve ever asked yourself, “How can I start affiliate marketing with no money?” you should rest easy knowing that it is possible. With the right affiliate tracking software and time set aside for research, your business can begin implementing affiliate marketing strategies no matter your budget.
Unsure of where to start? Here are some tips to get your business off on the right foot when developing your affiliate marketing program.
Learn Affiliate Marketing
This is essential, especially if you plan on using an affiliate marketing platform such as Refersion. Preparation is necessary to ensure your company can swim when jumping into the proverbial deep end. An understanding of the basics will make it far easier for your company to develop initial strategies to get your program in working order.
To learn affiliate marketing is to grasp how you’re approaching your marketing efforts.
Furthermore, such knowledge will help you strategize ways to work around budgetary limitations. In some cases, that budgetary limitation can be exponentially beneficial for your business, allowing you to invent new ways to capture and convert customers — necessity is the mother of invention, after all.
Leverage Social Media, Email, and More
If you’re in a spot where you have no money to spend on affiliate marketing, don’t fret: You can always rely on the power of word of mouth marketing. When it comes down to it, affiliate marketing doesn’t always have to be pay-per-conversion. Businesses short on money can happily rely on the success of good customer service and social media chatter.
Anytime someone makes a purchase through your website, stay in touch with them — provide them with the option to sign up for a monthly newsletter with your company and ask them to follow you on social media. Regularly post interesting social media posts that are human and not solely centered on selling a product. Interact with fellow businesses and users on social media; get them to notice you and give your page and website a closer look.
When you’re first getting started, you’re really trying to make a name for yourself. This is the time where you’re building your base of trusted customers. Do what you can to provide them with the most beneficial experience possible, making them feel as if they’re a part of your community. This, alone, can maintain their interest and influence them to share your company with family, friends, and strangers. Best of all, it can be done without having to pay a commission or find an affiliate!
Regularly Evaluate Your Budget
While you can get an affiliate marketing strategy on little to no money, you don’t have to run it that way forever. It’s in your best interest, as a business owner, to regularly invest time into your company, and part of that involves determining how your internal finances look.
If you started putting money into affiliate marketing efforts last quarter, do you still have the headroom to do so or do you need to scale back? If you haven’t had the money to invest just yet, will you be able to in the near future? Don’t extend your business to a point of discomfort; just figure out how much growth you can afford at that time.
The Bottom Line
There’s never been a better time to implement an affiliate marketing strategy than now. With the accessibility of social media, you can readily find customers that fit your niche, bringing them into the fold for the present and the future. If you’re interested in affiliate marketing but don’t know where to start, consider taking the time to learn affiliate marketing and its best practices. If any questions pop up along the way, don’t hesitate to get in touch with one of our expert staff!