In this era of big data and media fragmentation, businesses no longer need to throw in a great amount to advertise themselves on the traditional media. The rising of new media diversifies the channels of marketing and advertising and lowers the cost of advertisers, and meanwhile, it becomes easier for new media owners to monetize their digital attention.
A strategy to make both advertisers and publishers happy is affiliate marketing, in which media affiliates are rewarded with commissions for the attention they bring to the businesses. An affiliate network, such as CJ and Amazon, provides a platform that offers connection between the two parties. Usually, the merchants (advertisers) pay publishers commissions by Clicks (CPC), Attribution (CPA) or Sales (CPS). Therefore, this strategy also makes the marketing performance more measurable. In the past, affiliate marketing platforms have saved a fair amount of costs for the publishers to find suitable products to promote and lowered marketing costs for merchants as well as improved the marketing effectiveness.
As previously covered, Biu Tech is a start-up focusing on the overseas Chinese market. The company has recently developed an affiliate marketing platform that has potential benefits to thousands of Chinese-language media overseas ranging from traditional news websites to popular blogs and social media accounts. With 975 vendors on the ecommerce app Bujiong Shop, the Biu Tech’s new affiliate marketing platform would provide registered media partners the access to Chinese merchants who seek alternative channels to promote their products.
According to Xu Zhang, the Marketing Director of Biu Tech, registered media on the platform would get paid both by conversion and by sales. This means that the media partners would get the conversion payment if the consumers download the Bujiong Shop app, and then get commission (usually 10%-50%) when consumers buy the products through the app. Biu Tech has already signed 10 Chinese media for the testing period, and for the merchants to register for the new marketing services, they need to be listed on the ecommerce app for at least 6 months.
The affiliate marketing platform would help a number of Chinese speaking merchants in foreign countries find more effective channels to target on their niche market. On the other hand, media outlets can utilize their digital attention more efficiently and profit from it.