While scrolling through Instagram stories, chances are you’ll find at least one person asking you to swipe up or use their discount code. It’s easy, nonchalant, and we don’t think twice about it. Advertisers are using this type of marketing, coined affiliate marketing, as another way to promote their products. There has never been a better time, as an athlete or a brand, to get started with your affiliate program.
Although affiliate marketing has been around for years, many people are still not aware of what it is and have not yet taken advantage of the opportunity. As a brand, you are using a third party (the athlete) to sell your product or drive traffic to your website. You will give this athlete some of your product and a unique URL or discount code for them to share with their followers across all their social media platforms. The athlete will create content with your product and share it with their fans while providing the code. The URL/code can be trackable so that you can track the performance of the athlete’s post and, in some cases, pay them commission off of it.
As an athlete, it is important to remember that you’re more than a salesperson, you’re partnering with that brand. While you are endorsing the product, you should be doing more than just posting once or twice on your story. You must engage with your audience, who are now your customers. The more you show your followers that you believe in this product and show how it helps you, the more interest it will create. Check out Ebony's post below:
With the Coronavirus pandemic causing a major halt in the world, brands are being forced to cut back on costs. For many brands, spending your budget on a 30-second TV commercial is not financially feasible. Instead, you can spend a fraction of that and partner with an athlete. As a brand, picking an athlete gives you more control over who views your products. Rather than spending more money on an ad that may be seen by a larger audience, you can use athletes in affiliate marketing to focus on your desired target audience. You should also consider the type of ads you are generating. When you go on a website and an ad comes up on the top banner, what are the odds you click on it and go purchase something? Even if the ad is relatable, there is a good chance you will skip over it. Now, what if your favorite fitness instructor is giving you 20% off supplements? Odds are that will drive you to the website and see what that brand has to offer. Fans trust their favorite athletes and are willing to listen to their opinions. Athletes in affiliate marketing are a good way to effectively interact with customers and let them know about your product.
Athletes across the world are sitting at home with more free time than they could have ever imagined. As an athlete, no matter how big of a following you have, now is the perfect time for social media to be used as another source of income. All it takes is a few posts or stories on your Instagram to become an affiliate marketer. It is important to remember a few things once you partner with a brand. First, you must create a personal connection with the brand and product you are promoting. If you believe in the product, it will be easier to sell to your followers. Second, it’s important to diversify, but don’t go crazy. Chances are the followers you have are interested in the sport you practice. If you stray too far away from your niche, it could negatively impact sales. Lastly, stay on top of trends. Things change quickly, take the substantial rise of TikTok for example. You must be able to realize when something is trending up and when it is trending down and be able to capitalize on these trends before it’s too late.
Today, merchants see about 23% of their revenue being generated from affiliate marketing. With athletes having to think of creative ways to generate income, and brands trying to cut back costs, look out for affiliate marketing to take on a larger market share. Whether you are an athlete or a brand, capitalize on this opportunity for athletes in affiliate marketing and talk to an OpenSponsorship representative today, info@opensponsorship.com.