Your Guide To Master Fear Of Missing Out Marketing!
It might be astonishing to know that fear can be a great motivator for humans. It is an inherited feeling in humankind. People always fear from missing something out. They are not willing to miss out on a good deal or an opportunity. Missing opportunities might cause them feelings of regrets or being left out, which leads them to act quickly. As humans, we naturally want to be part of things and always to know what’s going on around us.
This is what psychologists call Fear of missing out. This phenomenon can be of great benefit to marketers and advertisers. Many marketers use the Fear of missing out in their campaign to boost their sales and profits. Indeed, It is a well-established concept in consumer behavior and is widely used in social media marketing context.
So, If you want to know more about this phenomenon and how to use it in your marketing strategy, continue reading this article!
First, let’s try to understand what the Fear Of Missing Out in marketing is?
Many researchers have tackled this topic and tried to define the concept of Fear Of Missing Out which is sometimes referred to as FOMO.
Speaking from a psychological aspect, it can be explained as the anxiety people feel when excluded from a new experience or social event. We can say that FOMO is characterized by the desire to always stay connected with what others are doing.
Applying this concept on marketing, it can be defined as J. Walter Thompson (JWT) Worldwide, FOMO mentioned:
“the uneasy and consuming feeling that you’re missing out, that your peers are doing, in the know about, and in possession of more or something better than you.”
In addition, other researchers stated that Fear Of Missing out is a fear that other people might have better experiences and rewards, which encourages people to use certain products in order to not miss out on whatever others have.
Actually, FOMO is considered a powerful consumer motivator that influences consumers’ purchase decisions. That’s why many advertisers acknowledge this fact and try to take advantage of it to capture the audience’s attention and encourage them to buy.
Here is what usually happens in the Fear of Missing out process:
When a shopper finds a discount that won’t last for long, he will experience anxiety and uncertainty. He would think, what is the right decision to make? Am I going to miss out on this deal if I don’t make a purchase now?, what will I miss? is it a good opportunity?!.
When this shopper starts thinking like that, this means he is experiencing a fear of missing out. Usually, this feeling will urge him to purchase (taking into account the efforts and incentives that you as an advertiser will give him to reinforce this feeling) so that he won’t feel any regrets in the future or that he lost a good opportunity.
Now, because statistics can give an insight into how important FOMO is for your marketing strategies, let’s dive into some numbers!
- 56% of people are afraid they’ll miss out if they don’t stay on top of what’s happening on social media.
- 69% of millennials experience FOMO.
- 60% of millennials make reactive purchases because of FOMO
- According to a survey, 60% of people made purchases due to exclusive offers and discounts for fear of losing the opportunity more than their need to own such products.
- 48% of millennials have spent money they didn’t have to keep up with their friends.
- Forbes mentioned that If consumers are offered a 30% discount, 66% of millennials will switch brands.
All these statistics can help you better understand the importance of integrating fear of missing out into your campaigns, as it will open many opportunities for you. In addition, it can increase your conversion rate and reduce your abandoned baskets, which is considered a huge problem for many advertisers; according to some statistics, 72% of all online shopping carts are abandoned.
The use of Fear of missing out marketing can be seen in many marketing efforts and e-commerce websites such as Noon, Booking.com and Shein. They usually tend to add stock availability to encourage consumers to buy the product before it is out of stock. This technique is an example of FOMO usage.
Still, how exactly can you use FOMO in your marketing strategies?
In this section, Affsquare will provide you with some ideas to integrate FOMO into your marketing!
Usually, the FOMO marketing strategy focuses its messages around the following criteria:
1- Urgency
2- Scarcity
3- Missed Opportunity
These three criteria can be used through different methods:
1- Limited-time Offers:
You can promote discounts and offers that will last for a limited time. Also, you can use a countdown timer on your website or the offer landing page to create a feeling of urgency and scarcity. According to statistics, The presence of the timer alone made an 8.6% lift in conversions. Also, it was found that when consumers experience scarcity conditions, they often tend to have an urgency to buy.
2- Highlight Stock availability:
Highlighting the limited supply of a product can encourage consumers to take action. Humans are competitive by nature, so feel free to make use of this competitiveness by displaying product availability. This will show your consumers that other people are buying the same product as them, which will indicate its popularity. Also, this will stress the scarcity of the product, which will make it more valuable and create a sense of urgency as they will feel that they might miss out on this opportunity.
3- Social Proof:
Using social proofs can act as a booster shot. You need to pay attention to using Reviews and User Generated Content. It was found that 90% of consumers look at reviews before making a purchase, and customer reviews influence 67.3% of purchasing decisions. So adding consumer reviews to your website or Social media accounts can be beneficial because product reviews are 12X more trusted than product descriptions.
On top of that, You can incorporate UGC in your social media feeds or your e-commerce website because 92% of consumers trust word of mouth. And UGC can act as word of mouth. Also, it was found that over 60% of consumers seek out UGC before making a purchase and 84% of millennials stated that UGC has some influence on their buying decisions.
At the end of the day, using these testimonials will let consumers feel that they are missing out on something others have.
In addition, social proof can include notifications that show your shoppers what others are doing on the website. Showing how many people visited this page or purchased this product can create feelings of scarcity and competitiveness.
4- Using Affiliates to create Feeling of missing out:
You can use Influencers to create FOMO campaigns. According to a study conducted by (Dinh and Lee, 2021), It was found that consumers usually tend to engage in a social comparison process. They compare themselves with influencers and try to imitate them. The interaction between influencers and their followers promoted upward social comparisons, which motivated materialistic possession and the anxiety of missing out on trendy products.
It was proved that influencers using FOMO could positively impact consumers’ purchase intention and increase advertisers’ sales.
Influencers are your perfect method for your FOMO marketing because consumers always look up to their favorite influencers. They fear that they might miss out on endorsed products if they don’t try or buy them, which will lead to missing important opportunities from their point of view. It was found that 60% of people purchase products within 24 hours of seeing an endorsed product by an influencer.
Another way of using affiliate marketing to implement FOMO can be through the previously mentioned methods. You can promote your limited-time offers and show that your products will be out of stock through different types of affiliates.
Keep in mind!
Everything has two sides. Although Fear of missing out has many benefits and advantages for your business, you can’t overlook its other side.
You need to be cautious when using FOMO in your marketing. Consider it a chemical experience in which every step should be calculated and taken with extra care. Why?
Because too much FOMO might backfire on you and give the opposite results. An Academic study found that If you push too much fear of missing out campaigns on social media, this might cause social media fatigue and change consumers’ attitudes to negative ones. Ultimately, this will lead to losing your consumers because of the intrusiveness and content overload.
Furthermore, you need to weigh your FOMO usage from an ethical perspective. As the core of FOMO marketing is to induce negative emotions in the consumers. That’s why you need to handle it wisely. Based on some statistics:
- 39 percent of people felt envy
- 30 percent felt jealousy
- 21 percent felt sad or disappointed
This shows that FOMO marketing sometimes creates a sense of unease for some people. That’s why you need to use it with the right intentions, As consumers now are more savvy and intelligent and can usually sense whenever you are trying to exploit or manipulate them.
Conclusion
Integrating Fear Of Missing Out into your marketing strategy can boost your sales and profits. Combining this with affiliate marketing may be the missing puzzle that will give you the perfect strategy. We at Affsquare understand precisely the importance of such a phenomenon. We always tend to know more about consumers in different industries and study them and their behavior to get accurate insights to help our advertisers and affiliates.
JOIN US NOW and benefit from our affiliates who implement Fear of missing out and much more in their strategies and BOOST YOUR SALES!
Your Ultimate Guide To Native Ads!
Finding the best method to deliver the message to your consumers efficiently and unobtrusively can be a hassle. Most advertisers are now trying to find an efficient strategy to achieve their goals and connect with their customers. With the increasing number of savvy consumers and the cluttered advertising world, advertisers are struggling to stand out and deliver their message to the right audience at the right time. So, How can advertisers overcome these obstacles?
Native Ads are the answer!
Here in this article, you will get the chance to learn about native ads and why they are essential for your business.
First, you need to understand. What native ads are?
Native ads can be defined as a type of paid media designed to fit and match the content of a media source they are placed in. In short, we can say that they’re ads that fit in.
They usually don’t look like advertisements. Instead, they appear as informative and fun content as they blend well with the rest of the page and help users experience a seamless transition from consuming organic content to consuming advertising content. This unique feature of native ads reduces the risk of consumers’ frustration or clicking away.
Moreover, native ads are usually used to target users, keep them engaged, and connect with them emotionally. They provide consumers with relevant and valuable information that doesn’t appear as an ad or spam. According to Statista, it was found that 41% of consumers have a positive perception of the ad when it is placed around a relevant content. Using native ads in your advertising strategy could be a clever move as it was proved by many studies that native campaigns beat banner blindness.
To show you the effectiveness of native ads, let’s have a look at some vital statistics:
It was found that:
- 53% of consumers look at native ads more frequently than display ads.
- 70% of the people would like to know about the products from the content of the website articles, rather than traditional ad methods.
- Native advertising spending is expected to rise by 372% from 2020 to 2025, according to a global analysis.
- 72% of customers only engage with ads personalized to their interests, and native ads enable you to make more personalized ads in a personalized context.
As you have been introduced to what native ads are, it’s time to know more about their different types!
Types Of Native Ads!
According to The Interactive Advertising Bureau (IAB), Native ads can be classified into 5 types:
In-Feed Units
In-feed native advertising units are ads that appear in your social media feeds, such as sponsored posts or on a website. They’re paid placements that appear directly in line with other articles, posts, or editorial content.
Paid Search Units
Native advertising is also a popular advertising method for search engines. When you bid on ad placements on top of the search engine results pages, you are technically using native ads cause these ads are designed to look like the organic search result.
Recommendation Widgets
Another spot where you’ll find native ads on publisher sites, social media, and even search engine results pages, is in recommendation widgets. These ads usually appear at the bottom of an article or at the sides of a web page; they usually appear as recommendations for additional content that you might like.
Promoted Listings
This type of ad usually appears on e-commerce websites; they are presented in a list to match the rest of the site’s organic listing. The main difference between them and the rest of the site lists is that when a consumer clicks on them, he will be redirected to an advertiser’s landing page.
Display Ad With Native Elements
This type of native ad looks like a standard ad; consumers may even see them in an ad container or banner. However, what makes them native is that they are contextually relevant to the site they appear on or the content they appear next to. For example, a restaurant or a food company might place an ad containing their recipe on a recipe website or a blog.
Now, you know the basics, so let’s get down to business!
Why native ads might be beneficial for your business?
Delivering the message at the right time and at the right place to the right audience is considered a dilemma for most advertisers, they exert an effort to achieve that. This is where the role of native ads comes. Using native ads can enhance your targeting process, as it will help you place your ad in a context that you know it’s relevant to your target audience. In addition, integrating native ads into your strategy is capable of improving your brand awareness and will make you connect with your consumers on a personal level. Many studies have shown that native ads generate higher engagement than traditional ones, although people are aware that the content was paid for.
Exploiting their distinctive disguise feature will eliminate the risk of intrusiveness that most traditional ads face. In addition to this, the ad’s contextual relevance means that native advertising can produce a high Click-Through Rate (CTR) and boost conversions, as it was found that native ads are likely to convert consumers more than twice than traditional ads. This could be because The content can be consumed naturally and intuitively by users’ regular media consumption. Till now, we’ve mentioned bits and pieces of native ads’ benefits, so let’s dive deeper into its advantages and get into more details!
1- Increase purchase intention
Native ads have an impact on consumers’ purchase intention, according to a study conducted by Stanford University. It drives 18% higher purchase intent compared to traditional display ads. This might be because of the smart placement of the ad, the added value it gives, and the non-intrusiveness.
2- Grabbing attention
Advertisers compete to grab their audience’s attention, and native ads can give you that on a plate. Because of its soft approach, Native ads can capture your audience’s attention, as when done well, it is purposefully relevant content that fits within the page’s content. According to Acquisio, It was found that native ads generate 53% more views than traditional ads.
3- Higher conversion rate
Converting potential customers is very important for any advertiser, Native ads don’t just increase audience engagement and your brand presence, they also can give you a hand in increasing your conversion rate, as it was proved that they can drive a 40X higher CTR than traditional display ads.
4- Ad-block Friendly
37.5% of global internet users block online advertising with an ad blocker tool, according to Hootsuite. Also, Statista reported that 71% of people use ad blockers because they find websites more manageable without banner ads. So, with so many ad blockers on the rise now and many users are becoming less forgiving of ads, Native ads come to the rescue. As they are unobtrusive, read like standard content, and don’t disrupt a user’s experience. They actually offer an excellent way to reach and not irritate your target audience.
5- Building trust
Building trust with your customers is a very critical point. Native ads can aid you in this aspect, as Adweek reported that 90% of consumers like custom content from brands and over 65% of Gen X and Z consumers trust branded content more than they do with traditional ads.
Programmatic native ads:
Native advertising is one thing. But what if we told you that there is more than that?
Programmatic native advertising is using the full potential of native. Using programmatic native ads can enhance your ROI and reach. Native ads are built and then are shown to a site’s visitor after a process called Real-Time-Building (RTB).·
So how exactly does it work?
When a visitor enters a website, a request is sent to an ad exchange with information on the website and the visitor’s data. This information is then matched against available advertisers, and a real-time auction takes place.
It might sound complicated, but Let’s explain it more: for example, if you are a beauty and cosmetics retailer, you can target your consumers through different websites. If a consumer visited your website then visited another website, let it be a news website, you can display your ads based on the information that this visitor previously visited your site, but how?
You can state that you only want to display your native ad on this news website but only to the visitors who previously visited you. Then the news website starts collecting data on its visitors and does a real-time auction among different advertisers; the winning bidder gets to display his ad on the website after it takes the feel and look of the rest of the website. This process happens in a matter of seconds while the website is loading at the user’s end.
Affiliate marketing and native ads
According to the Interactive Agency Bureau (IAB) 2020 survey, 59% of advertising agencies in the Middle East are shifting into performance-based campaigns. Combining affiliate marketing with native ads can give you the best results you are aspiring for. In addition, many affiliates now are using native ads to have a more effective strategy to boost their sales, Utilizing those affiliates in your marketing strategy can maximize your profits.
Conclusion
Using native ads that mimic the look, feel, and function of a medium’s content can be your best practice to reach your audience, make them trust you, and increase the purchase intention. Applying that in your strategy, along with getting the best out of affiliate marketing, can guarantee you the best results. Here at affsquare, 40% of our affiliates integrate native ads in their strategies.
SIGN UP with us NOW and start your Journey with AFFSQUARE
How Can AI Benefit Your Business As An Advertiser?
The world we live in has been moving towards a future where AI is becoming more and more integrated into our lives. As a result, the need for intelligent and quick systems has become a necessity.
5 Affiliates’ Problems And How To Overcome Them
Affiliate marketing is now used by 80% of brands. With the rise of Affiliate marketing in the middle east and the increased number of affiliates, it is about time for someone to step forward and address specific problems that most affiliates suffer from besides presenting some solutions.
8 Blogging Secrets To Start Your Earning Journey
Content is the holy grail of blogging. Without eye-catching, attractive content, it will be hard to persuade your audience to hang around your blog and make them subscribe or even come back to you. Creating quality content is your path to increase traffic, As blog traffic can be increased to 2000% through quality content.
Advertiser’s Guide for the post- Black Friday season 2021
Have you thought about your plan after black Friday?
Whether you achieved your sales goals during this black Friday or not, don’t worry, cause the opportunity is still here. You can boost your profits after black Friday, as there are many chances to seize starting from Cyber Monday till the end of December. According to Criteo statistics, 76% of companies will limit promotions to the weekend of Big Sale Friday (41% only 1 day), which means that you can stand out and be unique by exploiting the post-black Friday period. So, prepare yourself as you’ve got a whole season to plan for.
How To Make Money On Black Friday Through Affiliate Marketing
November is the holy grail of the e-commerce business due to Black Friday – the season that marketers plan for months – but are brands the only beneficiaries? Can individuals benefit from the money flow in the highest season of the year?
Absolutely yes, and here’s why!
Affiliate Marketing gives you the chance to collaborate with local, international businesses to promote their products/services in exchange for a commission. You don’t need to purchase physical merchandise to sell; it works by passing your affiliate link to the interested customers and persuading them to buy the hot deals you offer. If you’re wondering if it’s worth it, this number could quickly answer your question (The total value of Black Friday spending in 2020 reached $9.03 billion.)
You can learn more about it by reading this article: Affiliate Marketing In 2021: Your Ultimate Guide To Get Started.
We don’t need to dig deeper to understand the history of Black Friday; you just need to know that brands, marketers, and affiliates are eagerly preparing and waiting for this season along with the shoppers, and these statistics from Google Trends and Google Keywords Planner confirm.
This search indicates the 900% increase in the “Black Friday” search in the previous three months.
The numbers say that shoppers are aware and waiting to hunt super deals. They search for their favorite brands to fill their cart. And it’s evident that digital is winning against on-ground shopping because if we looked at last year’s numbers, we would find that 100 million consumers shopped online while 58.7 million hit the stores on Black Friday.
So, how can you make money on Black Friday through Affiliate Marketing?
Whether you own a website, blog, YouTube channel, Facebook group, niche account/page, or a personal/ business account on any social media platform, you have a high chance to maximize your income during this high season through affiliate marketing by following these steps.
Join An Affiliate Network.
At the start, you need to join an affiliate network to choose between the offers and brands to earn the best out of your derived traffic from their comprehensive niche products. Always make sure to select a trusted and reputable affiliate network to secure your payment. A capable network could open up hidden doors for your affiliate business by offering:
- 24/7 affiliate support to guide you through your journey.
- Tips and tricks from skilled affiliate managers.
- Rewarding System: Top achievers get higher commissions, free analytic tools, and more add-on benefits.
- Clear KPIs to identify when and how you will get paid.
In addition to access a smart dashboard that will give you detailed reports and updates to measure your sales and track your promotions display across all your assets to detect any issue and maximize your results. Join AFFSQUARE, and get access to all of these features and beyond. Not only to maximize your Black Friday sales but to scale up your revenues throughout the year.
Give your customers something extra/ Collect the best deals for your customers.
Coupons are the key to customers acquisition, as these figures show:
- 90% of consumers used coupons in 2020.
- 70% of consumers love receiving coupons.
- 74% of consumers follow the brands looking for coupons.
- Online coupon users spend 24% more than regular shoppers.
So, as an Affiliate marketer, giving your customers an extra promotion code will definitely motivate the right targeted niche to use your li,k, and code to complete the purchase. So, join AFFSQUARE to get access to exclusive coupons for hundreds of brands. If you want to understand the coupons strategy’s importance, check this article: Coupons and e-commerce.
Learn Media Buying
Understanding the sales funnel is the real deal. Consider Black Friday as a marathon where everyone is looking forward to beating the competitors. It will help if you learn media buying in order to stand out and drive traffic to your content and offers because relying on organic reach in this season could be risky. As we said above, it’s a “crazy race!”. Marketers are highly dependent on the “funnel” because they believe in the importance of the ROI. According to HubSpot, 2020, 91% of marketers are “somewhat confident”‘ or “very confident” that they’re investing in programs that influence revenue. And the best program that directly impacts the ROI is Affiliate Marketing.
If you are still suspicious about the importance of Media buying, have a look at the number of e-commerce sales worldwide that reached 4.28 trillion US dollars in 2020 compared to the annual worldwide digital Ad spend that hit 378$ Billion in 2020. Then, you will understand why this industry is skyrocketing.
What’s after the Black Friday?
If you missed this season, it’s okay! But, prepare yourself for the upcoming one, as Cyber Monday is following and winning in some countries, as last year’s statistics confirmed that Cyber Monday beat Black Friday by $2.4 billion on digital spending.
Conclusion
We believe that the era of out-of-sight queues is projected to end, yet, expanding new opportunities for digital marketing to grow and flourish due to the expansion of internet users across the world. Affiliate Marketing is a $12 billion industry that leads the way for thousands of marketers to earn millions of dollars.
Join AFFSQUARE if you need experts to guide you through your affiliate journey.
8 Tips to increase revenue from Black Friday to e-commerce owners
Black Friday is the biggest and busiest shopping day of the year.
According to Adobe Analytics Statistics, Consumers Spent $9 billion on online shopping in 2020, and this amount increases every year by about 22%, so this year it’s expected to reach $11 billion!
Here are some tips to help you make the best of it, maximize your profits and make your brand break through the clutter!
Affiliate Marketing In 2021: Your Ultimate Guide To Get Started
In the META era and with Artificial Intelligence taking place, your online asset is your Inheritance for your children & your most valuable job, only if you do it right. With Affiliate Marketing, you can grow your online asset by promoting a product/service through a commission-based offering and have a piece of the e-commerce industry projected to grow to 5.4 trillion US dollars in 2022.
Have you ever wondered how freelancers earn so much money that allows them to travel, live in fancy houses, and drive the latest cars? How could someone without a “tangible job” secure a monthly income? If you look at it vice versa, those freelancers wonder why could someone settle down for a fixed, relatively low monthly salary while you can earn way more money or secure yourself by having a supplementary source of revenue?!
Answering this question will give you the definition of the $12 Billion Industry. In sum, affiliate Marketing enables business owners (advertisers) to pay for actual results to increase their e-commerce sales numbers. For growing the real ROI by offering publishers “affiliates” good incentives in the form of commission, based on clear KPIs that suit their industry. According to statistics, 80% of brands collaborate with Affiliate partners, as Affiliate Marketing values 15% of all digital ROI. On the flip side, the publishers or the affiliates rush to promote the products/services to the broad market. The most outstanding feature is choosing the products you like to motivate your customers to purchase something you are already familiar with. If you are still not convinced, data indicates that 40% of marketers worldwide are willing to learn Affiliate as a game-changer skill, and this number is growing over time.
The Perks of Being An Affiliate Marketer
- A Boss-Free Career
If you want to be your own boss, “the president of yourself,” while your workplace could be anywhere in the world, this is the perfect job for you. For a short time job, jumping on trends could give you the ability to earn sufficient money for an extended period, till the next trend. But, although it seems pretty cool, it requires commitment, obligation, and self-motivation to secure your income. And your guidance? It should be the whole internet with its accessible sources along with your own experience.
- Smart Passive Income that could build your Wealth
If the participants of the squid game knew about this industry and the amount of cash they can earn, they wouldn’t probably get slapped in the first place. Considering this Cash flow career as a long-term job could build your wealth depending on your performance as there is no limit for the amount of cash to earn when there are thousands of brands and offers to wait for you to promote their products/services for billions of people. In the e-commerce world, there is no such thing as an economic depression, as it’s one of the highest economic growth rates at the moment and is expected to hit $1 trillion by 2022.
- Flexibility
Let’s all admit that normal human beings think about quitting their jobs every Sunday morning in the MENA region and every Monday morning in Europe and the rest of the world. Flexibility could alter these facts. So if you’re a night person and no one understands, let them! Shine at night or whenever you want with the most flexible industry in the digital world.
- Cost-Friendly
As an entrepreneur, it’s normal to be concerned with the starting budget. The plus in Affiliate Marketing is its cost-convenient nature. You can build your online asset with organic reach or with a reasonably low-paid budget. Imagine investing in a promising property; instead of waiting to price it, you can establish your online business tower worth millions.
What are the Types of Affiliate Marketers?
You may have all the potential and the online assets to become an affiliate marketer, but you just don’t know it yet. Check out the most popular traffic sources in Affiliate Marketing.
Websites
1-Coupon WebSites
According to figures, 74% of customers follow the brands looking for coupons and 90% of shoppers used coupons in 2020, that’s why you will easily find websites only for this purpose in the first result pages when searching for the brand name, to fulfill the need of receiving extra motivation to make the purchase. In addition to reinforcing affiliates to promote products/services using personalized promo codes to their followers and target audience, coupons could be a great incentive to complete the purchase and spend more. Data shows that online coupon users spend 24% more than regular shoppers. You can establish your website by collaborating with brands to gather vouchers; by time, brands will offer you exclusive, customized promo codes to attract your followers; moreover, shoppers will visit your site looking for good deals.
2-Content WebSites
These are the sites that offer valuable content. By “value,” we mean the content that entertains and attracts the readers to continue reading and turn on the subscription alarm. These include the sites of magazines, newspapers, T.V channels, book clubs, etc. Mentioning these sites makes us think about ‘Native Ads’ automatically because consumers who purchase from affiliate links coming from these channels are highly interested due to the nature of its user-generated content. And sometimes the audience is not aware of the ad placement, it could be in front of their eyes, but they don’t know that it’s an ad. So before starting such a website, you have to remember that attracting users to follow your content website requires patience and plenty of quality work. Still, it’s paying off ideally as soon as you start registering in a robust affiliate program.
3-Comparison & Review WebSites
Deciding which product to buy could be puzzling; that’s why 93% of shoppers check online reviews before completing a purchase. And 93% of customers believe that online reviews impact their purchase decisions. So it’s no wonder that review sites take advantage of people who already spend hours comparing products and brands by exposing them to different products/services with high rates of positive reviews as customers tend to be influenced by them. To underline the importance of reviews, check (Shein) website; you will find thousands of people rushing to post reviews about products they have brought from the website. By digging deeper, you will understand their behavior since the website motivates the users by giving them points whenever they post positive or negative reviews.
4-Installment Programs “Buy Now Pay Later” Websites
These sites help customers get what they need right away, offering discounts and hot offers on selected items, allowing them to have it all (reasonable price with fair installment payment plans). Joining affiliate programs entitles you to partner up with brands to highlight their offers on your website. Using CPS, you will get paid whenever a customer makes a purchase. Considering that the number of people using these programs is growing year after year, the industry’s value is expected to reach $181 billion by 2022 after $100 billion hits in retail purchases in 2021. The numbers confirm that BNPL is not a one-time thing; it’s becoming a buying habit for more than 71% of shoppers around the globe after the pandemic.
Social Media
1- Influencers
Influencer marketing indeed helps businesses in customer acquisition, as statistics confirm that this industry will reach $13.8 billion by 2022. it’s no surprise to witness big brands collaborating with generation Z influencers when you know that 70% of teenagers nowadays trust social media bloggers more than celebrities. Social media now is more than lifestyle influencers. It’s a broad market with so much room to grow & to impose your content. So if you want to increase your income, start highlighting your unique content; by time will get flourished, as today’s generation has no excuses when it comes to generating social exposure when you have Instagram, Facebook & TikTok!
2- Social Media & Community Groups
Did you know that 60% of customers have been motivated by social media while purchasing and 86% of female shoppers use social media for shopping recommendations? Community groups use these numbers to promote brands on their platforms, persuading the members to purchase by giving them promo codes based on reviews. When we talk about groups, Facebook immediately pops into our minds. Although Facebook is home to more than 2.85 billion monthly active users, establishing your social media group could be challenging, especially when more than 1.4 billion users are already in all Facebook community groups. Creating a group requires commitment at the beginning till your group reaches the user-generated content stage when your admins are overwhelmed with the numbers of pending posts. In this stage, promoting affiliate links could boost your passive income like never before.
3- Pages and Niche Accounts
Followers call them professionals, obsess, and experts. You will find them on all the social media platforms giving up-to-date advice to people interested in a specific niche. For example, if you love cars, you will most probably follow the car lover account on Instagram and the cars channel on YouTube, even on Twitter; people follow the pages that fall into their interests and listen to them. Statistics show that 41% of Twitter users are most likely to purchase based on a Tweet, and 82% of consumers believe in social networks to Lead their purchasing choices.
Media Buyers
Those entrepreneurs map out, plan, invest and implement tailored strategies to hunt the right customer in the right digital place at the right time. Media buyers believe in products/services, use their own budget to maximize their profit.
Have a look at the top traffic sources for affiliate marketers:
- SEO with 69.22%
- Social Network with 67.32%
- Blogging 64.48%
Did you know that the annual worldwide digital Ad spend was 378$ Billion in 2020? Now can you imagine the amount of the profits and ROI for all the parties?
Tactics & Strategies That Will Help You To Become A Super Affiliate
Although the numbers of affiliates are getting higher, there is a high chance for you to cut through the vast market after conducting heavy research to scale up your revenue and maybe get rid of your routine job. If you’re willing, with the help of these tips, you can get started today.
- Niche Down to Scale Up
When we step outside of our culture, things get pretty puzzling. For example, you might have heard about the failure of the Iranian brand called TIZ while expanding their brand in GULF, as “Tiz” in the Arabic language means butt. That’s why localization & knowing the language/culture of your customers is critical in Marketing. An affiliate marketer should work with a familiar niche or deeply study the foreign market before launching any campaign to avoid any negative hustle to earn trust attention.
- Adjust Your Marketing Effort To Meet The Brands’ KPIs
80% of brands collaborate with affiliate partners working with a wide range of KPIs. You might achieve great results while working with (CPA) Cost Per Action, but not so great with (CPS) Cost Per Sale, that’s when you need to adjust your campaign, your content, or sometimes just the (CTA) “Call To Action” to direct the customers into your objective. It’s evident that significant industries rely heavily on affiliate programs such as electronics, fashion, grocery, sports & outdoors, health & wellness products, and home care products. In addition, there are a large number of underrated industries which also offer high incentives, and remember, the higher the price of the product, the greater the outcome.
Some of these industries are:
- Real Estate using CPL (Cost Per Lead)
- Gaming Sector using CPI (Cost Per Installing)
- SAAS Software using CPA (Cost Per Action)
- Automotive industry using CPL (Cost Per Lead)
- Follow The Customer’s Online Journey
Where awareness ends, affiliate begins. It means that understanding, analyzing, and breaking down the funnel that the customer goes through while purchasing online could open up doors of ROI for the affiliate, as identifying the path enables you to hunt your niche even better than the brand itself. The skilled affiliate marketer will know where to find their niche and develop powerful, engaging tools to motivate the customers to purchase. And most important feature about this great industry is empowering you to surround your target with multiple options within the same category because you’re not a regular marketer that promotes one specific brand; you’re an affiliate with creative powers.
- Keep Yourself “Up to date.”
Like the real estate industry, the companies sometimes, in certain seasons, offer extra incentives for the affiliate. So keep yourself “Up to date” by signing up in compelling affiliate networks and following big brands’ affiliate programs to never miss a great deal! If you seek the best product/service offerings to promote and want to join the most trusted affiliate network that collaborates with hundreds of brands in the MENA region. Sign up now to AFFSQUARE, and one of our affiliate managers will give you a call to explain our credible and reliable AFF-Solutions that will secure your profits.
- Prepare Yourself For The Trends
The future of tech transforms the shape of affiliate marketing every day; that’s why you need to prepare your online asset to cope with any changes. For instance, when they switched from third-party cookies, it impacted the whole targeting strategy. Besides the seasonal and special days such as Cyber Monday & Black Friday that will become even more precious for the affiliates, especially after Black Friday spending in 2020 reached $9.03 billion & Cyber Monday’s online sales reached $10.8 billion, while the annual worldwide digital Ad hit 378$ Billion in 2020.
The Next in Affiliate Marketing
Affiliate Marketing is your profitable destination in the era of digitalization as it’s transforming the whole business model, impacting many industries & creating valuable opportunities for Affiliate Marketers in most of its aspects. That’s why in AFFSQUARE, we believe that the upcoming years will witness 25% to 40% growth in Affiliate programs revenue, while the ads spending is projected to grow over 15% while the value of the Affiliate industry will reach $18 billion globally.
Want to explore more?
Sign up for an Affsquare account and start earning today!
Why can Coupons be valuable for your e-commerce business?
Consumers now are bombarded with various e-commerce retailers. Companies are competing to grab their attention in order to increase sales and profits. One way to stand out from the crowd and increase your e-commerce sales is by using Coupon codes and discounts.
Affsquare will provide you with more information about coupons, why you should use them, and their effectiveness in this article.
