Why is Word of Mouth Marketing a Goldmine for Affiliates?
By Eaglefx On June 09, 2021 in Affiliate Learning Centre
Why is Word of Mouth Marketing a Goldmine for Affiliates?
As an affiliate, social media is undoubtedly one of the most valuable tools you can use to promote your campaign and drive more traffic to your EagleFX affiliate link. Social media platforms have changed the communication game, making it possible for individuals to broadcast messages to the masses, empowering individuals and creating endless opportunities to use social networks for your benefit.
As technologies develop and societies evolve drastically, there’s one truth that has never changed: humans can build trust between themselves more than machines. Indeed, a product or service recommendation coming from someone we know and trust, or even a stranger over the internet posting a genuine review, remains one of the most effective ways to up sales.
We’re talking about Word-of-Mouth Marketing, or WOMM, of course. A concept that predates the internet, which has only grown more and more important as time goes on. It’s a little bit of a paradox; the more tools and channels that become available to promote a product, the more valuable WOMM becomes. In daily life, people are inundated with messaging coming directly from brands. It can be draining at times, but what is almost 100% effective is a simple recommendation from another individual you can relate to.
Social Media and Word of Mouth Marketing
Think about a time when you were looking to purchase a new product or service – who was the first person you turned to? In most cases, serious decision-making leads us to ask a friend or family member who has either gone through a similar experience or whose advice you can always rely on. If you don’t have somebody who knows what you need, you may turn to forums, review sites or social media to read what people are saying about the product you’ve got your eye on. In short: never underestimate the value of WOMM!
With the introduction of social media, an individual’s IRL network consisting of close friends and family suddenly became much, much larger. As a result, users can turn towards their online peers for advice, be it as an extension of their real-life network or a replacement for it!
Using Word of Mouth Marketing for Affiliation
By now, you should understand that what people say about you and the product you promote is just as important – if not more important – than what you try to tell them. Nonetheless, it’s still crucial that your WOMM aligns with the other methods of advertising that you’re using, such as banner ads, email marketing and blog posts. This will not only increase the credibility of those ads but also leave a longer-lasting impact in the minds of your audience.
You can do this in many ways, such as:
Expand your Network to Increase Affiliate Earnings
As an affiliate, you can refer new traders to become affiliates themselves. In this way, you’ll earn a commission from your direct referrals, as well as any referrals brought in by your clients for up to 5-levels within the EagleFX 5-Tier Commission structure.
To get your clients excited about affiliation, you can share your knowledge and experience with them and help guide them to signing up for the program too. Want to know more? Contact your dedicated EagleFX affiliate manager to get inspired!
Remember to Listen. WOMM is a two-way street.
Word of Mouth Marketing is more than simply getting people to hype up your product or service. If you want to make the most out of this strategy, you need to follow the conversation, understand what your audience wants, engage with your community and provide assistance where possible. Communication is key to building trust in WOMM, both in real life and on social media!
A simple and effective way to create a two-way communication channel is by responding and interacting with client messages and reviews. This will keep your client happy while also attracting new clients if your responses are effective. While a good review of your service goes a long way, the same can be said of negative reviews. What’s posted on social media, stays on social media. So, you want to ensure that your clients are content at all times!
Another strategy for good WOMM is by encouraging user-generated content. By sharing posts, commenting or contacting your audience members directly, you can become part of the conversation. If you’re wondering what your audience is thinking, just ask! Why not start an Instagram live discussion, or post interactive polls o Facebook?
Let’s start the conversation!
The best time to start working on your WOMM is now. Get in touch with your very own affiliate manager to discuss how you can use social media to improve your strategy and increase your affiliate earnings!