I write columns on news related to bots, specially in the categories of Artificial Intelligence, bot startup, bot funding.I am also interested in recent developments in the fields of data science, machine learning and natural language processing ...
I write columns on news related to bots, specially in the categories of Artificial Intelligence, bot startup, bot funding.I am also interested in recent developments in the fields of data science, machine learning and natural language processing
Affiliate marketing has always been a lucrative industry for the advertisers and the publishers but during past decade, it has grown as one of the mainstream approaches for the companies to adopt in order to sell their products without investing heavily on their sales infrastructure.
Furthermore, the rise of influencers marketing and digital automation has given a major boost to an already skyrocketing affiliate industry
In 2015 Amazon.com revenue surpassed $100B. Likely, its affiliates generated at least $10B of it
Being said that, Startup brands are still finding it hard to promote and sell their products despite having the potential to serve the needs of their customers.
Why is this happening?
Because consumers are not interested in traditional marketing tactics anymore. They find product reviewers, writers, youtube stars more trustable than brand advertising.
Every brand claims their product to be the best in the market and this leaves the customer in a dilemma about what to choose and what to skip. A customer wont blindly trust on what brand has to say. Usually, Visitors go to Amazon or ebay looking for products and eventually find themselves reading product reviews. Products having more positive reviews find their place in the cart. The one thing which stands out in this entire process is the Importance of Influencers.
Influencers has this uncanny knack of sparking conversations through unorthodox dialogs. They can change opinions and create reactions while doing impromptu promotions. No wonder, Brands are running after them in order to boost their sales.
Influencers are the affiliate marketers
Everybody needs money so do the influencers. Besides educating their audience about the products or services, they are also running ads on their blogs and websites which redirect their audience to an ecommerce store or product page. So if someone buys a product, a predefined percentage of the product cost goes into affiliate marketers account as commission. While established affiliate marketers are always looking to expand their reach, it can be difficult for newbies to even start things off.
How Automation can play a vital role
From conversational agents to real time tracking, Automation has revolutionized the marketing industry. Brands are banking heavily on automation in order to simplify buyers journey. Its high time for Affiliate marketers to shake hands with the automation.
Customers are buying via Chatbots
Chatbots in Affiliate Marketing
Everything starts with the product discovery which as a matter of fact, is the most common use case for most of the industries. Content and price comparison websites rely on user search intent and nature of traffic coming to such websites is more inclined towards product discovery. Chatbots can not only help the visitors discover products but can also keep them engaged by adding fun to conversations.
Affiliates like Incentive websites offering cashback or voucher code as direct benefit to consumers can make the make the most out of the chatbot technology by adding it as a part of their UI program.
For Instance, to avail offers while booking a movie ticket a chatbot can help user to select movies and seats, apply voucher codes and redirect to payment page.
Benefits of chatbot implementation
Ease of data capturing
Lesser bounce rate
Interactive Conversational UI
24/7 Support (bots never sleep)
Customers looking for deals and offers visit multiple incentive websites to grab the best deal available on the internet. A conversational agent powered by AI and NLP can sense the FOMO moments while communicating with the user and trigger CTAs with precision resulting increased conversion rate.
There are not many affiliate players out there who are using Chabot technology at present but it's just the matter of time when chatbots will invade the affiliate marketing industry and become a force to be reckoned with.