Affiliate Marketing: How to Win in an Uncertain Economy

so let's first talk about.
how affiliate marketing is changing and.
behavior is changing for consumers in.
this economy.
well first we're seeing Affiliates.
become much more price sensitive we're.
not really Affiliates more so consumers.
they're becoming much more price.
sensitive and you need to overcome this.
because if you don't overcome this.
you're going to see your affiliate.
income drop.
a report by McKinsey found that 60.
percent of consumers are making changes.
to their spending habits in response to.
economic uncertainty.
you're going to find it harder to.
convert people we found that one of the.
best tactics to overcome this is to.
actually go live.
so yes there's live on Facebook there's.
live on Instagram there's live on Amazon.
and what you can actually do is go live.
and promote exclusive discounts you can.
also go live and break down how someone.
can use the product and emphasize the.
value and the savings and everything.
you're getting for the price one unique.
strategy we're seeing Affiliates.
starting to implement they haven't too.
much in scale but it's working super.
effective a lot of those Instagram.
influencers everyone know here how those.
Instagram influencers and Tick Tock.
influencers charge way too much money.
for a post raise your hand if you agree.
it's hard makes it hard for economically.
to make the numbers work right now a lot.
of them are struggling did you know you.
can hit them up even as affiliate we're.
seeing this new trend where affiliate.
marketers who don't own the product or.
company are hitting these influencers up.
giving them some money on an annual.
basis and you do month-to-month.
contracts so you can get out whenever.
you want.
and what you do is you can pay them to.
go live to Their audience to promote.
whatever product or service you want the.
way you make money on this is you're.
paying them let's a flat fee and you try.
to get them to go live each and every.
single day we found that it's pretty.
effective with our audience for the.
first month two months Max and then it.
diminishes the return but it's a great.
strategy for you guys to use to generate.
more sales more revenue and you're.
monetizing Their audience.
shoppable live streams can increase.
conversion rates by roughly 20 percent.
this is coming from Bigcommerce.
another thing that you need to do is.
focus on necessities necessities are.
converting much better in this economy.
than previously because that's where.
people are spending their money.
providing essential goods and services.
during times of uncertainty can increase.
Customer Loyalty by 10 this is from.
Harvard Business review.
another thing that you want to do is.
gamify.
so when someone shopping and buying if.
you're affiliate or a company you need.
to gamify the experience add more to the.
cart get free shipping add more to the.
cart get more points add more to the car.
you get buy one get one free whatever it.
may be you need to gamify it and the.
more you gamify it what you'll find is.
you'll start generating more repeat.
customers which then increase your LTV.
which then allows you to pay more money.
to affiliate marketers which then allows.
them to spend more money on Advertising.
so that way you can scale up.
up to twenty percent of customer.
engagement can be increased with.
gamification features like rewards and.
incentives according to Forbes and a lot.
of this stuff by the way I'm citing the.
sources by Molly putting stuff in here.
that we ended up testing and we know.
that works.
exclusive discounts will make your.
affiliate products much better.
especially right now.
you know yes people talk about free.
shipping and how that can have an impact.
on conversions that's great but you need.
to go more exclusive than that.
for example you know limited quantity or.
for example a limited edition you know.
those Nike shoe stores or the shoe.
stores.
I used to live in California and in.
California people would be out the line.
or out the there was a big line for.
these shoe stores I never understood the.
concept I had one pair of shoes it lasts.
seven eight nine ten years and then you.
buy a new one I'm like who's gonna stand.
outside the store for a shoe right I'm.
also Indian and I'm really cheap and.
frugal so I'm probably not the Right.
audience but they're like oh my God I.
gotta get one of those limited shoes.
there's only a thousand of those Yeezys.
or Jordans or whatever brand it is and.
that works really well it's fomo people.
want it they'll pay premiums I would.
have friends sending me images of shoes.
when Nike first came out of those shoes.
that you push a button and it.
automatically ties your shoelaces like.
uh Back to the Future they're like how.
rad is this I'm like not that rad I can.
just slip on and off my shoe I don't.
need some electric thing that I gotta.
charge my shoe right but those things.
sold and people thought they were the.
best thing since sliced bread.
providing free shipping can increase.
order values by roughly 10 percent.
according to Business Insider we see.
this all the time too.
try to make your offers more exclusive.
make sure you offer free shipping if not.
everyone's just going to go to Amazon I.
know that sucks but it's the reality.
customers will spend less or delay.
buying and keep in mind if you're.
affiliate you got to push the companies.
you're working with to make these.
changes if you're a company you got a.
push to make these changes to make your.
Affiliates more successful.
a study by PWC found that 58 of.
consumers are spending Less on.
non-essential items during a bad economy.
and a study by Nielsen found that 66 of.
customers are delaying Big Ticket.
purchases during a bad economy.
you it doesn't mean that you can't get.
people to purchase you got to push them.
over and I'm going to show you how.