Imagine a world without light bulbs. Sure, in this world we would likely have enough light in the day to get by, and we'd be able to use candlelight for our daily activities once the sunlight started to fade into the night. But while this style of living worked perfectly fine for years, the invention of electricity has truly revolutionized our world and allowed us to evolve to bigger and better things. Then why are so many digital marketers still using advertising methods dating back to the internet's inception? Just like light has evolved from candlestick to electric, the internet is also evolving and, as such, advertising and monetization methods must evolve too.
But before jumping into something new, it's important to think about what solutions are appropriate for your needs and how to get the most out of your marketing efforts. A solution that is growing in popularity and generally a good fit for most digital marketers is the affiliate marketing avenue called cost-per-action (CPA). Using this method, a website visitor in search of premium content is presented with a brief survey, quiz, or game they must complete that then unlocks their desired content. Digital marketers have the opportunity to sponsor these surveys or games and then pay a small amount to the website publisher for each one that is completed.
This type of marketing effort has four distinct benefits for digital marketers:
With a CPA approach, digital marketers are able to target any specific niche, several niches, or geographical zones with pinpoint precision. Whether your campaign is national or regional, this type of marketing can garner extreme accuracy in your targeting efforts. To boot, because of the global reach of the internet, whether your business is focused in North America, Europe, Asia, or anywhere else around the world, CPA can push your campaign in any market globally. For example, if you're marketing tennis shoes and you'd like to reach men ages 15 to 22 in both Europe and the United States, CPA would allow you the precision targeting to make sure your product reaches the right eyeballs and isn't being pushed to 75-year-old women in France, for instance.
CPA allows you to effectively garner leads by collecting information about those who complete your survey, quiz, or game. You can then move toward more targeted outreach with a better understanding of this consumer base by using the information you collected, such as their likes, dislikes, age, gender, etc. This can all be used to better target existing customers as well as those in future campaigns, build your sales base, gain detailed insight into what's working versus what's not working, and ultimately increase sales.
CPA also allows you to partner with very targeted web publishers whose readership base is likely the most interested in your product or service. This is another way to enhance targeted advertisements, as each site you're featured on presents only the most relevant offers in exchange for users' attention. Additionally, your brand's name will be top of mind for visitors who frequent those sites.
With affiliate marketing, and in particular CPA, the marketer defines the terms. This essentially means that if a user does not interact with your advertisement as required, then there will be no cost to you -- you have the choice to only pay the web publisher for completed interactions. This guarantees that you will be receiving full value on your investment.
In short, with a CPA method, digital marketers can not only meet the needs and desires of their consumer base, but also evolve their methods to coincide with the changing landscape of the internet -- bringing innovation and profit to their business models and taking them out of the dark ages of digital marketing techniques. They will enjoy enhanced targeting, strategic partnerships, gain valuable leads, and ultimately increase the bottom line.
Peter Tarr is CEO of MonetizeDigital.
On Twitter? Follow iMedia Connection at @iMediaTweet.
"Software package box word" image via Shutterstock.
Not a People Connection member?
Good topline overview, Peter. An article like this is a great resource to share with senior leadership and internal stakeholders who may not yet be fully onboard with the business model of Affiliate Marketing.
Full Summit Calendar | Request Invite
1 Marketing jargon translated for normal people
2 The most meaningless (and hilarious) job titles on LinkedIn
3 6 top social media management tools
4 6 steps for getting your brand into their heads
5 The best social media campaigns of 2013