Running an Affiliate Marketing business means having to juggle numerous things at once. As an affiliate marketer; you’re having to think about sales, tracking, social media, updating new campaigns and creative material whilst also running your business and managing your teams. However, it’s important you don’t lose sight of the larger picture, failing to build a brand behind your business – can be a fatal error if you ever want to exit.
While the idea of building a brand can seem intimidating, doing so is essential for the long-term viability of your business. Let’s take a look at why failing to build a brand can be so damaging and how you can prevent this from happening.
The Importance of Brand Recognition
The affiliate marketing industry is growing rapidly. While this means there are more opportunities than ever before, it also means the sector is far more competitive so how do you intend to differentiate and build a brand that stands out from the noise?
To stand out in such a crowded market, your business must be recognisable and perceived positively in the eyes of consumers. Marketing stats back this up, with 71% of consumers stating that it’s very or somewhat important that they recognise a brand before making a purchase.
It can be difficult to focus on building and nurturing a brand when faced with more tangible issues, such as sales figures and customer conversion rates. However, failing to build a brand can have disastrous consequences. It can see your business overlooked by consumers in favour of more relatable competitors.
How can you prevent this from happening? We’ve written up a few key brand-building tips for you to consider – below:
Create a Stand-Out USP
Earlier this month, the Affiverse team attended SiGMA Europe, a key event on the iGaming calendar. We noticed that, while there are numerous white label casino brands, many fall short when it comes to differentiating their business from their competitors. This can be an error in a crowded industry like iGaming and is something all brands should strive to avoid. The same applies in the world of affiliate marketing. The key is to establish a clear USP and brand identity that lets customers know why your business is different and why they should choose it over the competition.
Have Branded Visuals and a distinct Tone of Voice
One of the keys to building a brand is consistency. You must be consistent in both image and tone of voice across your website and your social media channels.This is all about building recognition among your customers. Over time, customers will come to associate particular images, colours and phrases with your business.
Discrepancies in tone of voice and inconsistent visual brand can create a sense of disharmony. Consumers may find it difficult to connect to and recognise your brand and you will struggle to successfully establish an identity.
Establish Your Own Brand Values
Studies have shown that up to 82% of consumers look to shop with brands with values that match their own. These values can include things like sustainability and diversity.
When building a brand, establishing values is critical. In doing so, you will convey to customers what your business is all about and will demonstrate that your brand’s values align with theirs. However, it is essential that you don’t approach this in a purely performative way. If your brand champions sustainability, for example, ensure that you are actually looking to implement sustainable business practices wherever you can. Failure do to so can make your brand appear dishonest, and you could see an exodus of customers, with up to 39% of shoppers maintaining that they would boycott a brand that does not align with their values.
In Conclusion…
Failing to build a brand is one of the biggest mistakes we see businesses making. Doing so can see you fall behind your competitors, and you will struggle to establish yourself as a key player in your industry. Use the tips above to build a successful brand that effectively connects with customers.
