The best marketing idea for small business is an idea that allows the small business person to increase sales with minimum increase in labour cost.
Every small business owner understands that to increase sales and profit, they need to invest in sales and marketing.
For most small businesses, investing in sales and marketing often translates to . . .
1. Paying for more marketing materials (for example, producing and distributing more product or service flyers) and
2. Employing more sales people (or more marketers) to distribute those product flyers and reach more potential customers
Well, that doesn't sound so bad, especially if those product flyer distribution activities will actual translate into actual product sales.
Unfortunately, marketing promotions such as the one mentioned above have no guarantees.
For example, there is no guarantee that distributing, say, 10,000 additional product flyers will bring, say, 10 additional product sales (which is 0.1% conversion rate).
There is also no guarantee that employing 5 more sales people will increase sales volume by X amount.
In view of the level of uncertainty associated with sales and marketing promotions, the best marketing idea for small business is one that . . .
Makes sense, right?
So, what marketing idea (or concept) follow the two rules stated above?
It is called affiliate marketing strategy.
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Affiliate marketing strategy is the marketing idea for small business that empowers small business people to grow their sales and profit with zero investment in labour cost.
Yes, when you implement the affiliate marketing strategy in your small business, you can actually have hundreds of sales people promoting your products and services without actually paying them a dime until they make a sale.
Really? How does it work?
Let's start with a simple definition.
By definition, affiliate marketing strategy (also called affiliate program or affiliate marketing program) is a marketing strategy whereby a merchant (or business owner) recruits independent sales people to help him market his products or services for a share of the sale price of the product.
Business owners who implement the affiliate marketing model in their business often entice hundreds of independent marketers to promote their products (as opposed to promoting products by other merchants) by offering to pay out juicy commissions when they make a sale.
For example, some merchants of physical products pay as much as 5 to 15% of the product sale price as commission.
In the digital products industry, many digital products merchants offer affiliates (or independent marketers) commission payment of 20 to 50% of the digital product sale price as commission.
The high commission pay out when a sale is made, entices hundreds of independent marketers to keep using their own money in trying out different sales strategies (even paying for adverts).
How much independent sales people spend in advertising before they make a sale is of no concern to the merchant. The merchant only pays the applicable commission when a sale is made.
Why is this marketing idea for small business so effective?
It is because of the benefits associated with applying this marketing model in a business. And the benefits include:
Benefit #1: Low setup cost: The cost of starting an affiliate marketing program is low
Benefit #2: Low maintenance cost: The cost of managing affiliate (or independent marketer) related activities is low. All you need in most cases is an affiliate marketing manager (the staff who oversees the program) and an affiliate tracking software (the web based software) that tracks and report sales attributable to registered independent marketers.
Just one staff member can manage thousands of affiliates, especially if the company's affiliate marketing program is powered by a web-based affiliate program tracking / management software.
Benefit #3: Zero Marketers Salaries: Implementing the affiliate marketing strategy in your small business will enable you to grow business profit without employing sales people. And therefore, you actually make more money with zero investment in labour cost.
Most popular affiliate programs are owned by major companies.
However, that is because most small business people are still thinking small instead of deploying current technology to grow their small business.
Want to grow your small business with minimum investment in marketing costs?
Then implement this marketing idea for small business in your small business.
Use this affiliate marketing strategy to build a team of self-driven independent marketers that you pay commission only when they make a sale.
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