Affiliate marketing; is a type of performance-based marketing in which a company compensates one or more affiliates for each visitor or customer generated by the affiliate’s own marketing efforts.
Marketing through affiliates has been present since the mid-1990s, but it wasn’t until the late 2000s that it gained broad popularity, owing partly to the expansion of e-commerce and internet advertising.
Advertising through affiliates is a method that entails locating firms that provide affiliate programs and then advertising their products or services via various internet channels such as social media, blogs, and email marketing. It’s a win-win situation for both the merchant and the affiliate.
Affiliate Marketing History
Marketing through affiliates has continued to evolve and adapt over the years, with new technologies and platforms emerging that have made it easier for businesses and affiliates to connect and collaborate.
One of the key developments in recent years has been the growth of mobile and social media, which have opened up new opportunities for affiliate marketers to reach and engage with consumers.
Additionally, the rise of affiliate networks, such as Commission Junction and ShareASale, has made it simpler for businesses to manage and track their affiliate programs and for affiliates to find and join programs that align with their interests and expertise.
Another trend in marketing through affiliates has been the emergence of influencer marketing, where businesses partner with popular social media influencers to promote their products or services.
Influencer marketing can be seen as a form of affiliate marketing, as the influencer is typically paid a commission for each sale or lead generated through their promotions.
Affiliate marketing strategies
Marketing through affiliates—that intricate dance between brands and content creators—can be a thrilling pathway to profit for both parties. But navigating the ever-evolving landscape requires more than just catchy links and lucky clicks.
2024 demands strategic prowess and innovative thinking. So, grab your creative compass and join us as we unveil the top affiliate marketing strategies sure to set your venture ablaze:
1. Choosing the right affiliate program
It’s important to choose a program that aligns with your niche and target audience and offers products or services that will appeal to them. When selecting an affiliate program, keep the following aspects in mind:
- Commission rate: The commission rate should be high enough to make it worth your while to promote the product or service.
- Product or service: Make sure the product or service is relevant to your audience and that you believe in it.
- Reputation of the company: Research the company to ensure they have a good reputation and have a history of paying their affiliates on time.
- Tracking and reporting: Make sure the program provides accurate tracking and reporting so you can see how well your promotions are doing.
- Support: Look for a program that offers support and resources to help you succeed as an affiliate.
- Payment: The program should have a good payment option, either PayPal, wire transfer, or check.
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2. Competition Check
Check if the competition is too high or too low and if you can still make a profit. To determine if competition is too high or too low and if you can still make a profit, you should conduct market research.
This should include analyzing the number and size of competitors, their pricing strategies, and their marketing efforts. You should also consider factors such as the size of the market and consumer demand for your product or service.
Based on this research, you can make an informed decision about the level of competition and your potential for profit. Additionally, you should also consider what makes your product or service unique and focus on ways to differentiate yourself from your competitors in order to gain a competitive advantage.
3. Building strong relationships with affiliate partners
To build and maintain strong relationships with affiliate partners, maintain regular communication through email, phone, or in-person meetings to stay informed about their performance and concerns.
Offer support and resources, such as marketing materials, training, and access to customer data, to help them succeed in their business.
4. Using tracking and analytics
Utilizing tools to track the performance of your affiliate campaigns can help you identify which partners and tactics are most effective and make data-driven decisions for future campaigns.
These tools allow you to track important metrics such as click-through rates, conversion rates, and revenue generated. This information can then be used to optimize your campaigns and improve their overall performance.
Some popular tracking and analytics tools include Google Analytics, Omniture, and Clicky. Additionally, many affiliate networks provide their own tracking and reporting tools for their publishers to use.
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5. Optimizing for mobile
With an increasing number of people accessing the internet on mobile devices, it’s important to ensure that your affiliate campaigns are optimized for mobile to reach more potential customers. Some examples of mobile optimization include:
- Ensure that your website and landing pages are mobile-friendly and responsive, so they can adjust to the size of the device they are being viewed on.
- Using short and concise affiliate links that are easy to click on a mobile device.
- Making sure that any forms or checkout processes are easy to complete on a mobile device.
- Using mobile-specific affiliate networks and offers.
- Using mobile-specific ad formats such as interstitials and native ads.
- Regularly testing the campaign performance on different mobile devices and operating systems.
By taking these steps, you can ensure that your affiliate campaigns are accessible and effective on mobile devices, which can help to improve conversions and revenue.
6. Offering bonuses or incentives
Offering bonuses or incentives to affiliates can help to increase their motivation and engagement, leading to more sales. These bonuses or incentives can take many forms, such as:
- Monetary bonuses: offering cash or gift card bonuses to customers who make a purchase through your affiliate link.
- Free products or services: Offering a free product or service to customers who make a purchase through your affiliate link.
- Exclusive content or access: offering exclusive content or access to a membership site to customers who make a purchase through your affiliate link.
- Limited-time offers: creating a sense of urgency by offering a bonus or incentive for a limited time only.
- Tier-based incentives: offering different bonuses or incentives based on how much the customer spends.
By offering bonuses or incentives, you can provide added value to customers and increase the perceived value of the product or service you are promoting. This can help increase conversions and revenue in your affiliate campaigns.
7. Tracking system
A tracking system is necessary to accurately track the sales and commissions of both first- and second-tier affiliates.
This system should be able to record and update sales data in real-time, provide detailed reports and analytics, and allow for easy management and tracking of commissions. Additionally, the system should be secure and reliable to ensure accurate and protected data.
8. Reporting and communication
A reporting and communication system is crucial for keeping both first- and second-tier affiliates informed and up-to-date. This system should provide easy access to performance data, such as sales and commission reports, as well as provide a platform for affiliates to communicate with the program managers.
This can be in the form of a dashboard, email, or other means of communication that allow for timely and accurate information sharing. The system should be user-friendly and accessible to all affiliates, regardless of technical expertise.
9. Marketing and promotional tools
Marketing and promotional tools are essential for the success of an affiliate program. These tools should be provided to both first- and second-tier affiliates to help them promote the products or services effectively.
These tools can include pre-designed banners, text links, email templates, and product images. Additionally, the program should also provide access to analytics and reporting features that can help affiliates track the performance of their campaigns and optimize their efforts.
Other tools, such as personal links, special offers, or coupons, can also be provided to incentivize the affiliates and increase the success rate of the program. This program structure can be a win-win for both the merchant and the affiliates, as it can increase revenue for the merchant and provide a way for the affiliates to earn more money.
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10. Using retargeting
Retargeting is a form of online advertising that allows businesses to reach users who have previously interacted with their website.
By using retargeting, businesses can display targeted ads to users who have previously shown an interest in their products or services. This can be an effective way to convert potential customers into actual sales.
For an affiliate program, retargeting can be used to show ads to users who have visited the affiliate’s website or clicked on an affiliate link but did not make a purchase. This can increase the chances of converting those users into customers and increase sales and commissions for the affiliate.
Retargeting can be done through various platforms, such as Google Adwords, Facebook, and Twitter. It can be done using cookies, tracking pixels, or mobile device IDs to identify and target users who have previously interacted with the program. The affiliate program can also provide the affiliates with the necessary code or image to place on their website for retargeting.
11. Be responsive
Make sure you respond to your affiliate partners’ queries and concerns in a timely and professional manner.
Being responsive to affiliate partners’ queries and concerns is crucial for maintaining a successful affiliate program. This means being available to answer questions, provide support, and address any issues that may arise in a timely and professional manner.
Responding quickly and effectively to affiliate partners’ inquiries can help to build trust and maintain a positive relationship between the program and its affiliates. It can also help to ensure that affiliates feel valued and supported, which can in turn improve their performance and the overall success of the program.
Having a dedicated support team or a designated point of contact for affiliates can be beneficial for managing and addressing their concerns. Additionally, providing a clear and easy-to-use system for submitting and tracking inquiries can also help to streamline the process and ensure that all concerns are addressed in a timely manner.
12. Share the success
Sharing the success of our partnership with our affiliate partners can help to create a positive and collaborative relationship by:
- Building trust and goodwill: By highlighting their successes, we are showing our partners that we value and appreciate their contributions. This can help to build trust and a sense of mutual respect.
- Encouraging engagement and participation: By celebrating our partners’ successes, we can also encourage them to continue to engage and participate in our partnership. This can lead to more productive and successful collaborations.
- Improving communication: By sharing our successes, we are also providing our partners with valuable information about the performance of our partnership. This can help improve communication and understanding between us.
Overall, sharing the success of our partnership with our affiliate partners is an important way to foster a positive and collaborative relationship that benefits both parties.
13. Read the Affiliate Program T&C
It is important to read the terms and conditions of an affiliate program carefully to understand the rules and expectations for participating in the program.
This will ensure that you are aware of any restrictions or requirements for promoting the products or services, as well as the terms for earning commissions or other benefits.
By reading and understanding the terms and conditions, you can ensure that you are fully compliant with the program and avoid any potential issues.
By considering these factors, you can choose an affiliate program that is a good fit for you and your audience and that has the potential to generate a good income.
Marketing through affiliates Strategy Types
When it comes to affiliate marketing strategies, there are two main categories to consider: content-based strategies and traffic-based strategies. Each focuses on a different aspect of attracting audiences and converting them into customers. Affiliate marketing tactics come in a variety of forms, including:
1. Pay-per-sale
Yes, that’s correct. In the pay-per-sale model, the affiliate is paid a commission for each sale made as a result of their promotion.
This commission is usually a percentage of the sale price, and it can vary depending on the product or service being promoted as well as the terms of the affiliate program.
This model is also known as the cost-per-sale (CPS) or revenue-sharing model. It is considered one of the most popular and traditional affiliate marketing strategies as it is simple and easy to understand.
2. Pay-per-lead
In the pay-per-lead model, the affiliate is paid a commission for each lead or sign-up generated as a result of their promotion. A lead can refer to a variety of actions, such as filling out a form, registering for a free trial, or requesting more information about a product or service.
The commission for each lead is usually a fixed amount, and it can vary depending on the product or service being promoted and the terms of the affiliate program. This model is also known as the cost-per-action (CPA) or cost-per-acquisition (CPA) model.
It is considered one of the most effective affiliate marketing strategies, as it rewards the affiliate for delivering a valuable prospect to the advertiser rather than just sending traffic. This model is often used for lead generation, email marketing, or free trial sign-ups.
3. Pay-per-click
In the pay-per-click (PPC) model, the affiliate is paid a commission for each click on their affiliate link. This commission is usually a small amount, and it can vary depending on the product or service being promoted and the terms of the affiliate program. This model is also known as the cost-per-click (CPC) model.
In this model, the affiliate places affiliate links on their website, blog, or social media, and they are paid for each click on those links. The affiliate is not necessarily required to generate a sale or lead for the advertiser in order to get paid. This model is considered a low-risk, low-reward model, as the affiliate is not guaranteed to earn a commission for every click.
This model is often used in conjunction with other affiliate marketing strategies, such as pay-per-sale or pay-per-lead, to increase the chances of earning a commission. It’s also used by advertisers to increase brand awareness and drive more traffic to their website.
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4. Content marketing
In the content marketing model, the affiliate creates valuable content that promotes the product or service and includes an affiliate link. The affiliate creates content, such as articles, blog posts, videos, infographics, etc., that aims to inform, educate, or entertain the audience and includes an affiliate link to the product or service.
The partner is compensated based on the worth of the content rather than the quantity of clicks or sales generated by it. The affiliate is compensated for producing great content that offers value to the audience while also assisting the advertiser in increasing brand awareness and credibility. This strategy is also known as native advertising because the affiliate’s content is effortlessly integrated into the website or platform.
Content marketing is considered one of the most effective affiliate marketing strategies, as it allows the affiliate to build trust and credibility with their audience by providing them with valuable information. This model is also used by advertisers to increase brand awareness, drive more traffic to their website, and nurture leads.
5. Influencer marketing
In the influencer marketing model, the affiliate partners with a social media influencer to promote the product or service. Social media influencers are individuals or groups that have a large following on social media platforms such as Instagram, TikTok, YouTube, etc.
They are considered experts or thought leaders in their niche or industry, and they have the ability to influence the purchasing decisions of their followers.
The affiliate partners with an influencer to promote their product or service by creating sponsored content or by offering a special discount code to the influencer’s followers.
The influencer may also create a review video or post a photo of themselves using the product or service. The affiliate is paid based on the number of clicks, sales, or leads generated by the influencer’s promotion.
Influencer marketing is considered one of the most effective affiliate marketing strategies, as it allows the affiliate to reach a large and engaged audience through the influencer’s social media platforms. Influencer marketing allows advertisers to create a more authentic and relatable connection with their potential customers.
This model is also used by advertisers to increase brand awareness, drive more traffic to their website, and nurture leads. It is also considered a more subtle and natural way of advertising as compared to traditional forms of advertising.
6. Email marketing
In the email marketing model, the affiliate sends promotional emails to their list of subscribers, including affiliate links. The affiliate builds a list of email subscribers by offering a newsletter, e-book, or other lead magnet in exchange for their email address.
Once the affiliate has a list of subscribers, they can send them promotional emails that include affiliate links to the product or service they want to promote.
The affiliate is paid based on the number of clicks, sales, or leads generated by the promotional emails. Some affiliate programs will also offer a commission for every email open or click; this is known as a cost-per-open (CPO) or cost-per-click (CPC) model.
This model allows advertisers to nurture leads, build brand awareness, and drive more sales. It also allows advertisers to segment their audience and personalize their messaging according to the interests and behaviors of their subscribers.
7. Comparison marketing
A comparison marketing model is a strategy where a company compares its products or services to those of its competitors in order to highlight its own strengths and differentiate itself in the marketplace.
This can include comparing features, pricing, quality, or other factors. This approach can be effective in convincing consumers that a particular product or service is the best choice for their needs. Additionally, it can be a powerful tool for establishing a brand’s reputation and credibility.
8. Loyalty programs
Loyalty programs are a marketing strategy used by businesses to reward customers for repeat purchases or for referring friends and family to the product or service. These programs can take many forms, such as point systems, rewards cards, or discounts.
The goal of a loyalty program is to encourage customer retention and repeat business by providing incentives for customers to continue purchasing from the company. Additionally, referral programs can also increase a company’s customer base by encouraging satisfied customers to refer their friends and family to the company.
9. Coupon websites
Coupon websites are a type of e-commerce platform that offer discounts and deals on a wide variety of products and services. These sites typically partner with retailers and brands to offer discounts to consumers in the form of coupons, promo codes, or special deals.
Consumers can search for deals on specific products or browse by category to find discounts on the products and services they are interested in purchasing. Some coupon websites also have a loyalty program where customers can earn rewards for using the website.
The goal of these websites is to drive sales for the retailers and brands they partner with while also providing consumers with a convenient way to save money on their purchases.
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10. Review websites
In the review website model, the affiliate creates or curates a website that provides reviews of various products and services. The website may include affiliate links, which are special links that track the referral of a customer from the review website to the retailer’s website.
If the customer makes a purchase through the affiliate link, the affiliate earns a commission on the sale. This model is a win-win situation for both the customers and the affiliate.
The customers get honest and detailed reviews of the products and services they are interested in purchasing, while the affiliate earns a commission for referring customers to the retailer. The goal of this model is to provide valuable and informative content to the customer while also generating revenue for the affiliate through affiliate commissions.
11. Niche marketing
In niche marketing, the affiliate focuses on a specific niche or industry, such as fitness or travel, and promotes related products and services through affiliate links.
The affiliate creates content that is relevant to their chosen niche and includes affiliate links to products and services that would be of interest to their target audience.
This can be done through blog articles, videos, social media posts, or other forms of information. The purpose of niche marketing is to attract a highly targeted audience and give them with relevant information and products in which they are interested, while simultaneously earning a commission for the affiliate via affiliate links.
This approach allows the affiliate to establish themselves as an authority in their chosen niche and build trust with their audience, which can lead to higher conversion rates and increased revenue.
12. Affiliate Marketing Blogging Model
Affiliate marketing is a type of performance-based marketing in which a business rewards one or more affiliates for each visitor or customer brought about by the affiliate’s own marketing efforts.
In the context of a blog, this could involve including affiliate links in relevant posts and articles. These links, when clicked on by a reader, would take the reader to a product or service offered by the affiliate’s partner business.
If the reader makes a purchase or takes a desired action, the affiliate earns a commission from the partner business. This type of marketing can be a good way for bloggers to monetize their content and earn money through their writing.
13. YouTube channel
In this model, the affiliate creates a YouTube channel where they review or demonstrate products and services and include affiliate links in the video description. By sharing their experiences and opinions on the products or services, the affiliate aims to generate interest and drive sales among viewers.
The affiliate earns a commission for each sale made through the links provided in the video description. This type of marketing can be particularly effective, as it allows potential customers to see the product in action and get a sense of its features and benefits from someone they trust. Additionally, YouTube is a widely used platform, which can help affiliates reach a large audience.
14. Mobile App
In this model, the affiliate creates a mobile app that promotes products and services through affiliate links. The app can be designed to showcase different products, provide detailed information about them, and allow users to purchase them directly through the app.
The affiliate earns a commission for each sale made through the links provided in the app. This type of marketing can be particularly effective as mobile apps have become an integral part of people’s lives; they are convenient to use and can be accessed anytime and anywhere.
Additionally, it allows the app user to make a purchase in a frictionless way, increasing the chances of conversions. The affiliate must ensure that the app is user-friendly and is able to retain its users to increase the chances of conversions.
15. Influencer Marketing
In this model, the affiliate partners with a social media influencer to promote the product or service. The influencer, who has a large following on social media platforms such as Instagram, TikTok, Twitter, or YouTube, shares posts or creates content that features the product or service and includes affiliate links.
The affiliate earns a commission for each sale made through the links provided in the influencer’s posts. This type of marketing can be particularly effective as social media influencers have built a relationship of trust with their followers, and their endorsements carry weight.
Additionally, influencer marketing allows the affiliate to reach a specific target audience that aligns with the product or service being promoted. It’s important for the affiliate to carefully select the influencer, who has a genuine interest in and knowledge of the product or service being promoted and whose audience aligns with the target market of the product or service.
It’s important to note that the effectiveness of a particular affiliate marketing strategy may depend on the products or services being promoted and the target audience.
Affiliate marketing tools
Affiliate marketing commonly employs the following tools:
- Affiliate tracking software: This software tracks and manages the affiliate links, commissions, and payments for an affiliate program.
- Link cloaking: This tool disguises long, ugly affiliate links and makes them look more attractive and easier to share.
- Landing pages: These are standalone pages specifically designed to convert visitors into customers.
- Email marketing: Affiliates can use email marketing to promote affiliate products and services to their email list.
- Social media: Affiliates can use social media platforms to promote affiliate products and services to their followers.
- Analytics: tools like Google Analytics can be used to track the performance of an affiliate marketing campaign.
- Building a website: Having a website dedicated to the products and services an affiliate is promoting can help establish credibility and provide a central location for potential customers to learn more about the products and services.
- Creating content: Creating valuable and informative content, such as blog posts, videos, and infographics, can help attract and engage potential customers, as well as improve search engine rankings.
It’s important to note that the success of an affiliate marketing strategy depends on various factors, such as the quality of the product or service being promoted, the targeting of the right audience, and the effectiveness of the marketing tactics used.
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Affiliate marketing strategy tactics
There are several tactics that can be used in an affiliate marketing strategy, including:
- Selecting relevant products or services to promote to your audience.
- Building a website or blog to host affiliate links and content.
- Creating engaging content that promotes the products or services, such as product reviews or tutorials,.
- Create an email list and send promotional emails to subscribers.
- Utilizing social media platforms to share affiliate links and content.
- Building relationships with other bloggers and influencers in your niche to promote each other’s products.
- Optimizing your website for search engines will increase visibility and drive more traffic to your affiliate links.
- Using affiliate link management tools to track clicks, sales, and commissions.
- Continuously test and experiment to see what works best for your audience.
- Being transparent and disclosing your affiliate relationships to your audience.
It’s important to note that the success of an affiliate marketing strategy depends on the niche, audience, and effort put in to make it work.
Affiliate Marketing Strategy Plan
An affiliate marketing strategy plan typically includes the following steps:
- Identify your target audience and the products or services they are most likely to be interested in.
- Investigate and join reputable affiliate programs.
- Create high-quality material that promotes the products or services with which you are associated.
- Use various marketing channels, such as email marketing, social media, and pay-per-click advertising, to drive traffic to your affiliate links.
- Continuously track and analyze your results to determine which tactics are most effective and make adjustments as necessary.
- Keep in mind that building trust and relationships is key for any affiliate marketing strategy, so always be transparent and honest with your audience.
Here are a few examples of how an affiliate marketing strategy plan might be implemented:
E-commerce:
A fashion blogger creates a website and social media presence that focus on fashion and lifestyle content. They join an affiliate program for a clothing retailer and include affiliate links in their blog posts and social media updates. They use Instagram and Pinterest to showcase different outfits and styles, and they use email marketing to promote sales and new arrivals.
Travel blogger
A travel blogger creates a website and social media presence that focuses on travel tips, destination guides, and reviews. They join affiliate programs for several hotel booking sites and include affiliate links in their blog posts and social media updates. They use Instagram and YouTube to showcase stunning travel photography and videos, and they use email marketing to promote special deals and discounts.
Software
A digital marketer creates a website and social media presence that focus on digital marketing tips and best practices. They join affiliate programs for several software companies and include affiliate links in their blog posts and social media updates.
They use LinkedIn and webinars to educate and inform their audience about the benefits of different software solutions, and they use email marketing to promote free trials and demos. visitors to click on affiliate links. Use attractive graphics and images to make the products more appealing.
Top companies embracing affiliate marketing
Many companies across a wide range of industries use affiliate marketing as a strategy. Here are a few examples:
- Amazon: One of the most well-known affiliate programs, Amazon’s Associates program allows website owners to earn a commission by promoting and linking to Amazon products.
- ShareASale: Is an affiliate marketing network that connects businesses with a wide range of affiliate partners. Companies like Wayfair, Modcloth, and Warby Parker use ShareASale to connect with potential affiliates.
- Commission Junction (CJ Affiliate): marketing network that connects businesses with a wide range of affiliate partners. Companies like Macy’s, JCPenney, and Target use CJ Affiliate to connect with potential affiliates.
- Rakuten Marketing: Is an affiliate marketing network that connects businesses with a wide range of affiliate partners. Companies like Best Buy, Dell, and Newegg use Rakuten Marketing to connect with potential affiliates.
- Airbnb: Has an affiliate program that allows website owners to earn a commission by promoting and linking to Airbnb listings.
- Etsy: Has an affiliate program that allows website owners to earn a commission by promoting and linking to Etsy products.
- Shopify: Has an affiliate program that allows website owners to earn a commission by promoting and linking to Shopify’s e-commerce platform.
More companies
- Booking.com: Has an affiliate program that allows website owners to earn a commission by promoting and linking to Booking.com‘s hotel and vacation rental listings.
- Bluehost: Has an affiliate program that allows website owners to earn a commission by promoting and linking to Bluehost’s web hosting services.
- Uber: Has an affiliate program that allows website owners to earn a commission by promoting and linking to Uber rides.
- Expedia: Has an affiliate program that allows website owners to earn a commission by promoting and linking to Expedia’s travel products and services.
- Lyft: Has an affiliate program that allows website owners to earn a commission by promoting and linking to Lyft rides.
These are just a few examples of the many companies that use affiliate marketing as a strategy to increase sales, drive website traffic, and reach new audiences.
Conclusion and summary
In summary, affiliate marketing is popular because it is a cost-effective way for businesses to reach new customers and generate sales. Affiliates, or partners, promote a business’s products or services and earn a commission for each sale they generate.
This allows businesses to expand their reach without incurring significant advertising costs, and it allows affiliates to earn money by promoting products they believe in. Additionally, affiliate marketing can be easily tracked and measured, which helps businesses optimize their strategy and maximize their ROI.
Additionally, affiliate marketing allows for a level of flexibility and scalability that other marketing strategies may not offer. Affiliates can choose to promote a wide range of products or services and can target specific demographics or niches.
Businesses can also easily adjust their affiliate program to reflect changes in their products or services. This flexibility and scalability make it an attractive option for both businesses and affiliates.
In summary, affiliate marketing is popular because it is a cost-effective, flexible, scalable, performance-based, and efficient way for businesses to reach new customers and generate sales, and it also allows businesses to tap into the reach and influence of established bloggers, influencers, and other online personalities.
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