Are you thinking about starting an affiliate marketing program on Instagram? It is a smart move in the present scenario. With over 1 billion active users on Instagram, if you choose to run an affiliate program partnering with influencers, you could reach a huge audience and that could be very highly profitable too for your brand.
Affiliate marketing is the marketing technique that gains affiliates, a particular commission of a product’s sale based on the recommendation of the affiliate. Read More.
AFFILIATE MARKETING ON INSTAGRAM
Affiliate marketing on Instagram is a marketing technique that allows influencers to promote a brand’s products or services and earn a commission from the sales they generate on Instagram. Influencers use unique, trackable links that are provided by the brand. Due to these links, it is possible to track exactly how many clicks and sales are made as a result. Affiliate links can be added anywhere on Instagram that allows links. Instagram Stories, IGTV descriptions, and Instagram’s link in bio are all affiliate link hotspots for influencers.
ADVANTAGES OF AFFILIATE MARKETING ON INSTAGRAM
There are many advantages of affiliate marketing on Instagram that brands and influencers can gain if they use the technique.
All of the major affiliate networks or programs are supported on Instagram.
Instagram has both image and video features. So both can be used to sell products.
Instagram is a free and effective platform for reaching out to the mass and converting followers into customers.
It’s easier to develop a brand and customer relationship through direct messages and comments on posts.
HOW TO SET UP AN AFFILIATE MARKETING PROGRAM ON INSTAGRAM
Here is a step-by-step guide:
Pick an affiliate network: Affiliate networks give you services like tracking technology, reporting tools, payment processing, along with a database of influencers who already use affiliate links on their platforms.
Set your commission rate: It is important to set the commission rate as you need to fix a rate that you will pay to the influencer for each sale they drive. You can decide the rate based on your profits, or you can check out the market with your competitors or you can ask your affiliate network to guide you on this.
Create a compelling affiliate marketing program: When you are creating an affiliate marketing program on Instagram you need to make it compelling enough for the influencers to choose them instantly. You can make it look attractive by making it more beneficial for the influencers by giving more opportunities and commission. You can introduce more rewards for a higher volume of sales.
Find influencers to collaborate: For your affiliate marketing program, you need to find influencers with whom you can partner on Instagram. You need to check profiles of influencers who match the niche of your brand. You need to see their engagement patterns through the comments. Choosing influencers with huge followers doesn’t always mean your brand will be benefitted. You can focus on influencers who are small. Many times, they work harder to give you conversions and sales.
Use coupon codes: Provide unique coupon codes with discounts to grab more buyers. The influencers can use these coupon codes in their Instagram posts, stories & bios tagging the brands so that the buyers can directly access the brand website. These links can easily let you know where the traffic is coming from.
Analyse & adapt: Once your affiliate network program starts running, it is important to keep track of the conversions, clicks, sales and reach that your brand is getting. It can be done through the affiliate network that you choose for your brand. You can analyse that data. If the figures are not meeting the target then you can change influencers or you can adapt to a better marketing technique.
Affiliate Marketing on Instagram is a very lucrative way to grow a brand and earn profits with a good customer base. Have you considered using affiliate marketing to introduce your brand or product to the mass? Let us know in the comments.