WHAT YOU NEED TO KNOW ABOUT AFFILIATE MARKETING
Affiliate marketing was one of the initial methods individuals utilized in making money online. Anyone who is into internet marketing must have heard countless success stories or even created some affiliate income for themselves.
Generating a steady income from an affiliate marketing program is the desire of many prospective internet marketers. Though this is achievable, the industry tries to attract some adverse press because of some affiliate marketers who often try to make a quick buck.
- What is affiliate marketing?
Affiliate marketing is one of the most renowned ways individuals make money from the internet and for some it could become a passive income once it is established.
It is a method where a person partners with a business (basically an eCommerce business) in order to earn commission by referring visitors or readers to a business’s particular service or product.
Affiliate marketing involves 4 distinct elements, these include the affiliate, the merchant, the network, and the consumer.
- An affiliate is a person who promotes services and products and gets a commission on every sale. The affiliate works alongside the merchant to promote products and services for the merchant.
- The merchant: Also referred to as a retailer or seller, is a business or an individual that provides a service or sells a product. The affiliate and merchant collaborate to promote products and services.
- The network: also known as a platform or program, acts as a major intermediary between the affiliate and the merchant. The network is digital and needs different levels of involvement from both the affiliate and the merchant.
- The consumer: can be the rest of us. In affiliate marketing, consumers are those individuals who use goods or services for satisfying his/her personal needs.
- Benefits of Affiliate Marketing Programs
For most bloggers, affiliate marketing programs offer different benefits such as:
- Easy Management
- No Financial Risk
- Several Sources of Income
- Easy to Join
- Core Factors For Successful Affiliate Programs
Affiliate marketing is undoubtedly the apple of a blogger’s eye. However, every blogger must know the factors he/she should consider to be successful in affiliate marketing. Some of such factors include:
- Select the Right Product
- Commission or Revenue Share
- Be Honest to Your Customers
- Make Your Contents Sticky
- How Does Affiliate Marketing Work?
So how does affiliate marketing work?
Well, businesses want to make more profit, grow and take over the market. For this to happen, they have to put in more work to get more customers.
One way they can do this is by going into partnership with affiliates (influencers) who will help in promoting their business to their friends, followers, and even family members, thus making more sales and customers.
But why wouldn’t business just pay for adverts?
The reason affiliate marketing works better than even adverts is that consumers tend to purchase more based on the recommendation from an individual they know, trust, and like than based on an advert from a faceless company they have never seen or heard of before.
That’s why affiliate marketing is far more beneficial and powerful than commercial advertisements.
Therefore, in case you are going to become an affiliate marketer, you also need to become an influencer. You can do this by growing an audience of people who know, trust, and like you. That is how affiliate marketing works.
Affiliate marketing is the most profitable and effective marketing strategy that is beneficial for every stakeholder.
The merchant is excited because he is getting more sales, the influencer or affiliate is excited because he is earning a commission on every single sale, and the consumers are also excited because they get products without any stress or hassle.