What do your currently do as CEO? Give me some information about yourself
My name is Matt Lovett and I am the MD of WOW Media. WOW is a multidisciplinary marketing agency specialising in Affiliate Marketing. I set WOW up in 2007 and continue to run the company now. At this moment in time, we have six committed WOW sites. These sites include: WOWTRK (our CPL / mobile affiliate network), our freebie website, a voucher code site and plenty of other projects.
How did you get into the industry? What inspired WOW media?
I began in industry at a very young age. At 12 years old, I began selling sweets in the school playground, succeeding in making my very first £20. This £20 was invested in my very first website that later became ‘British Rewards’. Those who used the site could complete affiliate based offers and earn cash back. This pushed me forward into affiliate marketing during an era when it was a fairly recent concept.
So affiliate marketing… what is it? How does it work?
Affiliate marketing is when an individual or business (affiliate) promotes a product or service on behalf of a merchant. This helps the merchant (advertiser) to reach a wider audience through the different methods their affiliate uses to promote the offer.
An Affiliate Network is a platform that connects affiliates and advertisers. The network then tracks the performance of the affiliate using a variety of tracking methods. When a WOWTRK affiliate makes a sale or gathers a lead, that action is shown in their account. Affiliates are granted the commission when the advertiser has confirmed the lead’s quality.
What is the benefit of Affiliate Marketing?
With Affiliate Marketing, publishers can earn a second income by monetising their existing blogs and websites. For some people, affiliate marketing is their entire business. Affiliate Marketing’s appeal is that it’s a flexible way of making a living, enabling publishers to earn money while travelling or working from anywhere in the world.
What would you say is the biggest challenge you’ve faced in your business?
Starting out and growing the business with no financial support has been the biggest challenge. At a young age, I had no income to use for projects. I had to reinvest every penny that I made back into the business. At the very beginning, it really was an example of starting with nothing and turning that into something.
What makes you stand out from the competition?
At WOWTRK we really focus on our unique software and tracking tools.For example, WOWDETECT (our fraud detection platform) allows us to increase an Advertiser’s return on their investment by reducing fraudulent clicks.
We also have a wide range of tools to help Affiliate’s increase their sales. For example, we can install a plugin on their WordPress site that allows for quick promotion of WOW Trk offers.
How would you say you approach business?
I believe that building good quality relationships are a key factor to succeeding in business. We build solid, long lasting relationships with all of ourAffiliates, Merchants and business partners.
What ways can an Affiliate make money?
There is a wide range of methods and different affiliate offers to promote. If affiliates want to sell products, they can promote ‘CPS’ offers and earn a commission for every sale. To succeed with CPS, you would need a good pre-sell. WOWTRK is also a CPL network, where affiliates generate leads rather than sales and earn a fixed commissionfor each lead they deliver to the merchant. This is very appealing to affiliates, enabling them to make money without having to generate sales.
When it comes to promoting offers, it can vary between advertisers. Sometimes there can be restrictions, but usually it comes down to; website traffic, social media, Email marketing, or even Pay Per Click advertising. This opens affiliate marketing up to a wide range of people.
What are the most common mistakes you see made by Affiliates?
Commonly, I see Affiliates trying to promote offers that are completely unrelated to their audience. For example, a blog is a very nichespecific; visitors are unlikely to be interested in a service/product that’s in a completely different vertical.A successful affiliate should be segmenting emails, adding relevant and related adverts to your site and building a targeted social media community.
What would be your top tip for a new Affiliate?
That’s quite a difficult one – I would typically say research and keeping up to date with the industry are the most important. You can’t really be pre-selling something unless you’ve taken your time to learn its benefits. When it comes to competing with the top affiliates out there, you need to keep your marketing knowledge fresh and implement new tools/platforms to increase your sales.
Is Affiliate marketing a long-term profitable avenue?
Affiliate marketing is very much here to stay. It can completely change your strategy to marketing and online business. It enables people who are popular within social media or blogging circles to finally make money without changing principals or selling anything of their own.