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Best Cannabis Affiliate Marketing Companies

by Hasum | | 420 Smoke Shop Near Me | 0 Comments

What Is Affiliate Marketing?

Though not a new marketing concept, more and more marketers are discovering the benefits this type of advertising has to offer. But what is it?

Affiliate marketing is a type of advertising model. In this model, third-party publishers work for a company to direct leads to its products or services. The third-party publishers are considered an affiliate and receive a commission based on the number of leads they generate. The commission they receive then incentivizes them to continue promoting the product and find new ways to share it.

Take, for example, an Instagram influencer. They may promote a favorite cannabis product or tea on their Instagram and have a link they provide followers to use to go buy that product from you. The influencer will then receive a commission based on how many people use that link and buy your products.

Why You Need Affiliate Marketing

Why You Need Affiliate Marketing

There are many reasons you need to make affiliate marketing a part of your marketing strategy, but two of the biggest ones are:

  1. You can reach a wider pool of customers. This is especially important if you are an e-commerce merchant. The more people who know about your business, the more potential customers you have, and the more money you can make.
  2. It offers a relatively low-cost advertising and creative marketing effort. Your affiliates will work to share your content, using language that appeals to your shared audience. This leaves you free to work on other marketing projects that require more hands-on work. Affiliated marketing offers you great exposure with minimal lift on your end.

Keep in mind that while the fairly hands-off nature of affiliate marketing is usually a benefit, it does require you to give up some creative control over your brand. That’s why you’ll want to make sure you choose your affiliates wisely when you start.

How to Choose the Right Affiliate Marketing Company for You

You can use an affiliate marketing company to help you market your branded cannabis products. But anytime you partner with another company, you want to make sure you choose one that will work well with your business.

As you look around for an affiliate marketing company to work with, consider these factors:

  • What’s their reputation? Read reviews from other partners to get a feel for how easy they are to work with and their reputation in the industry. This can give you peace of mind that you are working with a reputable company.
  • Do they fit your brand? You want to make sure they can reach the audience you are targeting; otherwise, you won’t get the leads and sales you want. Make sure they have tools to reach your preferred customer base.
  • What’s their conversion rate? If you can’t find it on their site, ask. You’ll want to find a company with a high conversion rate, as this shows they can effectively market products and draw sales, which leads to more revenue and customers for you.
  • What resources do they offer? It’s always helpful to see what tools they use to promote your product and if there are any tools that you could use as well. Plus, how do they (and you) view results? Some may also have other areas, like merchant services, that could benefit your business as well.
  • Are the terms of your partnership beneficial to both of you? Be sure to read your contract with them to make sure you both understand the goals you have for your affiliate marketing campaigns and how they will implement the links in marketing.
  • Do they work with cannabis companies? Due to the fact that cannabis is not federally legal in the US and faces unique restrictions, some companies may not be ready or able to work with you. Look for ones that will and have experience in the industry.

If you need a place to start your search for an affiliate marketing company, here are a few choices to consider:

  • Sharesale has vast experience in the cannabis industry and lots of partnerships. They also offer merchant services, allowing you to grow your partnership with them.
  • Impact is known for being reliable, with excellent tracking software. Though relatively new to the scene, they already have a strong reputation.
  • CBDAffs is new and focuses solely on CBD brands and products. So, if CBD is your niche, CBDAffs may be a good option for you.

How to Choose the Right Affiliate Marketing Company for You

Final Thoughts

Having a strong brand identity is just part of the marketing you need to do for your cannabis company. You also want to make sure you reach your target audience. Affiliate marketing can help.

This low-touch marketing option utilizes a third party to post and promote your brand and your products (whether that be accessories or cannabis and CBD products). In return, they receive money for each sale they bring to your site. This method allows you to reach more people, a must in today’s cannabis industry.

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