Are you struggling to find new and effective ways to raise funds for your team?
Traditional methods can be time-consuming and...well, old.
But there is a solution for this – Affiliate marketing. It is low-risk, cost-effective, and has the potential to bring great benefits if you do it right.
In this article, we are going to discuss the benefits of affiliate marketing for team fundraising, the steps to implement it, and the best practices to follow.
Let’s start with what is affiliate marketing.
What is affiliate marketing?
Affiliate marketing is a performance-based marketing strategy where a business rewards one or more affiliates for each customer brought by the affiliate’s own marketing efforts.
It typically involves three key players:
- The merchant (also known as ‘retailer’ or ‘brand’)
- The affiliate (also known as ‘publisher’, i.e you in this case)
- The customer.
So, how does it work?
How does fundraising for Non-profits work with affiliate marketing?
Basically what happens is merchant starts their own affiliate program, for promoting certain products at a set commission rate.
You, as a team, register and get approval from the brand. Once you get approval, you will get an affiliate link that you can share to earn a commission. So, whenever a customer buys a product or service using your link, you will earn a commission.
These commission earned through affiliate links can be used as a fund you need for your team.
Benefits of Affiliate Marketing for Nonprofit Fundraising
Cost-effective fundraising strategy
Traditional fundraising methods often require significant upfront investment, but affiliate marketing for nonprofits needs almost no funds to start.
You can begin by adding affiliate links to your website, social media posts, and newsletters.
Using this approach, you can start raising funds with minimal cost and effort. It’s a simple and effective way to boost your fundraising efforts.
Low-risk with potentially high returns
Affiliate marketing works on a commission basis and it doesn’t require any investment upfront. This low-risk approach lets you earn a steady stream of passive income for your team.
The technical aspects of tracking and reporting affiliate marketing activities can be complex. To simplify this process, invest in reliable analytics and reporting tools.
You can also connect with other organizations that are already in this space. They can guide you to get the best tools to manage your affiliate earnings.
Conclusion
Affiliate marketing offers a unique and effective opportunity for non-profit organizations to raise funds. Its cost-effectiveness, low risk, and potential for high returns make it an attractive option for diversifying revenue streams and increasing donations.
Interested in team fundraising with GoBoi? Join our ambassador teams here!