We recently published an infographic on how powerful video will become. But the future has already arrived. This has been a full-on video revolution year for marketers. According to Wyzowl statistics, 63% of businesses have started using video content marketing. Out of those 82% of businesses feel video marketing is an important part of their strategy. Video is progressing rapidly and will reach new heights sooner than we think. This trend is fueled by 83% of businesses believing that video marketing gives them a good ROI.
As a store gets larger and more popular, running an informal referral program becomes increasingly impossible, and the cost of painstakingly keeping track of referral figures (who referred who, how much did we reward them) increases. This can distract from a business’s core value proposition. You don’t want to be spending time micromanaging your customer referral program, you want to be spending your time building great products.
Marketers aim to spread the word about their brand to a wide audience, and they often do this by trying to make their content go viral. Viral marketing is a technique, which marketers use intentionally to spread their message quickly. Just like a biological virus, a viral marketing campaign spreads from one person to another, resulting in a large number of views, substantial amount of social shares and remarkable brand awareness.
A quick and inexpensive method of making money without the hassle of actually selling a product, affiliate marketing has an undeniable draw for those looking to increase their income online. But how does an affiliate get paid after linking the seller to the consumer? The answer is complicated. The consumer doesn’t always need to buy the product for the affiliate to get a kickback. Depending on the program, the affiliate’s contribution to the seller’s sales will be measured differently. The affiliate may get paid in various ways:
Even if you work for a large brand and aren’t able to interact with customers one-on-one, you can still build relationships through your digital marketing initiatives. For example, you can send personalized emails that highlight a customer’s individual interests, reminding them that you know them and care about who they are. You can also share be transparent. Showing what goes on behind the scenes helps customers see who you really are.
Mobile advertising is growing rapidly for several reasons. There are more mobile devices in the field, connectivity speeds have improved (which, among other things, allows for richer media ads to be served quickly), screen resolutions have advanced, mobile publishers are becoming more sophisticated about incorporating ads, and consumers are using mobile devices more extensively.:14 The Interactive Advertising Bureau predicts continued growth in mobile advertising with the adoption of location-based targeting and other technological features not available or relevant on personal computers.:14 In July 2014 Facebook reported advertising revenue for the June 2014 quarter of $2.68 billion, an increase of 67 percent over the second quarter of 2013. Of that, mobile advertising revenue accounted for around 62 percent, an increase of 41 percent on the previous year.
Two-tier programs exist in the minority of affiliate programs; most are simply one-tier. Referral programs beyond two-tier resemble multi-level marketing (MLM) or network marketing but are different: Multi-level marketing (MLM) or network marketing associations tend to have more complex commission requirements/qualifications than standard affiliate programs.
Priit is the founder and CEO of DreamGrow Digital, an internet marketing and social media company. With his 20+ years internet marketing experience he is Helping companies to understand and use the digital marketing to reach their target audiences. He's also writing on a personal growth website Fixwillpower.com. He has spoken at hundreds of seminars and conferences on different aspects of internet marketing. Priit is also the organizer of Digital Elite Camp, a leading traffic and conversion event.
When you're thinking about viral marketing for your business, you want to consider offering discounts and decide if it's beneficial or not. Jonah Berger suggests using the $100 rule - under $100, and a 25% discount seems like more than the same dollar amount off. Over $100, and the dollar amount seems like a better deal even though it's the same as the percentage.
The use of Viral Marketing is relatively simple. It’s about the fact that people pick up and pass on the marketing message on the internet and social media. That’s why it’s important to first come up with a marketing campaign that’s not just inspirational, but also easy to share via for instance Facebook, Twitter, YouTube or LinkedIn. The marketing message needs to grab people’s attention and generate interest right away. It’s also a good idea to choose a specific target group that is almost certain to pass the message on in their network. That’s why it’s wise to choose a marketing message that’s easy to share with friends, fans or followers. That way, the message can spread across the internet like an oil spill, and even influence other groups via the target group.
If your customers transact with you on a weekly or monthly basis, then it makes sense to incentivize referrals with account credits or discounts towards future purchases. However, if your customers purchase from you less than a few times per year, that reward won’t carry the same weight. In fact, it might send signals that you don’t really understand your customers.
As referral marketing continues to be a key driver for acquiring new customers, brands are looking for more ways to incentivize existing customers to invite their friends. While traditional online referral marketing programs continue to be fruitful, brands are starting to think outside the box to develop new ways to prompt their customers to refer friends.
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The internet is full of business potential, but it is also rife with competition. In this situation, it becomes really tough to sell your products or services. Affiliate marketing can help you effectively promote your product on the web. By helping you reach out to a large potential customer base, affiliate programs help you to connect with millions of customers across the globe.
Conversion rate optimization is all about testing. Many companies get too bogged down in design and what they think looks best and will convert. At the end of the day, you don’t know until you test. At IMI, we have the tools, technology, and expertise to not only build well-optimized web pages but to test them once they go live. Our conversion rate optimization can not only save our client’s money but generate millions in revenue.
Collaborative Environment: A collaborative environment can be set up between the organization, the technology service provider, and the digital agencies to optimize effort, resource sharing, reusability and communications. Additionally, organizations are inviting their customers to help them better understand how to service them. This source of data is called User Generated Content. Much of this is acquired via company websites where the organization invites people to share ideas that are then evaluated by other users of the site. The most popular ideas are evaluated and implemented in some form. Using this method of acquiring data and developing new products can foster the organizations relationship with their customer as well as spawn ideas that would otherwise be overlooked. UGC is low-cost advertising as it is directly from the consumers and can save advertising costs for the organisation.
Amazon Associates – while not strictly an affiliate network (Amazon both maintains the program and sells the products offered there), it is worth a separate mention for the sheer scope of its offers and operations. AA was one of the pioneering affiliate programs, created in 1996 to enable affiliates to advertise millions of offers from the Amazon e-commerce platform. Advertisers can earn 2-10% commissions on referrals, depending on the type of product they are promoting. It is worth keeping in mind that there are different Amazon Associate programs based on geographical locations.
According to Statistica, 76% of the U.S. population has at least one social networking profile and by 2020 the number of worldwide users of social media is expected to reach 2.95 billion (650 million of these from China alone). Of the social media platforms, Facebook is by far the most dominant - as of the end of the second quarter of 2018 Facebook had approximately 2.23 billion active users worldwide (Statistica). Mobile devices have become the dominant platform for Facebook usage - 68% of time spent on Facebook originates from mobile devices.