What Is Affiliate Marketing
Waking up early and driving to work only to sit at your desk for hours to get a fixed salary isn’t something everyone wants in their life. This is where affiliate marketing kicks in.
With the growing industry of affiliate marketing, people are leaning towards generating income through this easier and convenient method.
What is affiliate marketing?
This is the process of generating passive income by promoting your business through hiring affiliates.
The affiliate gets a commission by marketing your products. It isn’t limited to products alone as people and businesses can also be marketed.
How does affiliate marketing work?
The basic understanding of the concept is that a person promotes another business or person to generate income. This process involves the actions of three different parties that come together and enable the generation of income. These include the sellers, affiliate, and the consumer.
The seller is the one whose products are marketed across different platforms by the affiliate. While marketing is solely the affiliate’s job, the seller can still play a role in the advertising part and receive a share of the revenue from affiliate marketing.
The affiliate generally publishes the products of the seller in a way that is attractive to the audience. They generate sales for the sellers through which they earn a certain percentage of revenue.
The most important party in the process is the consumer who determines the revenue generation. If marketed appropriately, consumers buy the products that generate income for the seller and the affiliate marketer.
Types of affiliate marketing
Three main types of affiliate marketing are used throughout the affiliate marketing industry. Each of them holds a different kind of presence and connection with the consumers and the process of their marketing also differs.
- Unattached affiliate marketing
Unattached affiliate marketing is exactly what it sounds like; there is no connection to the end consumer in any way. You have no power or influence over how things are marketed and you’re only expected to provide affiliate links in front of the likes of platforms such as Google Ads and Facebook.
- Involved affiliate marketing
Involved affiliate marketing refers to using your platform to market products that you use personally and then recommend it to others. These don’t stand out as separate posts but are rather incorporated in your regular process. It’s way different than unattached and related affiliate marketing and requires your connection with the audience to compel them to buy a certain product.
- Related affiliate marketing
Related affiliate marketing refers to when you have a social standing in terms of a blog or any form of social media through which you can connect to your audience. You are required to attach links to your platform to encourage the buying behavior of the audience. However, these are products that aren’t used by you.
Benefits of affiliate marketing
Affiliate marketing comes with a lot of benefits for those involved in the process. Both, the affiliate and the selling party are at the receiving end of the various benefits that this industry provides.
Affiliate marketing enables sellers or product creators to reduce their marketing costs as they’re only liable to pay commissions to their affiliates. There are no additional overheads that sellers incur as the entire marketing is handled to affiliates so there’s no need spending on expensive marketing campaigns.
- Broadens your audience
Affiliates enable your business to be viewed in a variety of different market spaces. This is mainly because they have access to a larger and more varied segment of the audience. A plus side to opting for affiliate marketing is that the affiliates usually have an already existing visitor base. This means that your product will be viewed by a large audience that might result in a great increase in revenues.
- Boosts reputation
Tying up with affiliate marketing helps your business’ reputation as known influencers or bloggers recommend your product. Most of the visitors on the affiliate’s platforms trust their choices; therefore, there they will trust your brand to be good as well. This will lead to your products being talked about by different people and through word of mouth; reach more potential customers than ever before.
- Flexible and convenient
Affiliate marketing makes things much simpler and convenient for you. You will be able to focus on your goals and have much more free time to be productive. You will also be free of any sort of strict rules and regulations of a company.
- Performance-based rewards
While most jobs give you a standard pay, affiliate marketing enables you rewards that are based on your performance rather than anything else.
- Generates passive income
Generating passive income is something everyone wants to do. You can earn easy money while staying at home and focusing on other aspects of your business.
How big is affiliate marketing
The affiliate marketing industry is an ever-growing one as there are future expectations of it growing by almost 10%. The current industry is worth over $12 billion that speaks more than anything else. There is a lot of scopes for people to earn through this platform and boost their sales without having to put together a huge and expensive marketing campaign. It has become one of the largest ways to earn money online with the e-commerce industry as the biggest user of it.
Is affiliate marketing worth it?
While affiliate marketing has many pros attached, there is still considerable efforts that you need to put in to make things work. It isn’t an over-night change and you will have to take steps to make the most of it. But once you grow into it, you will find that it was worth all the hassle. Affiliate marketing helps you be your own boss and make things work according to your own schedule. Its convenience and flexibility allow you to perform your best.
Overall, this every-growing industry seems to be quite attractive to many business owners, especially in the e-commerce sector. With the way things are going, there is no doubt that the industry will see an even greater rise in its worth as people have begun to jump on the bandwagon of affiliate marketing.
Affiliate Marketing Magazine stated that the best way to start affiliate according is to
“Create a high converting lead page, build a quality email subscriber list and earn lucrative affiliate commissions.”
Larry Bussey captured the affiliate marketing concept by saying
“Affiliate Marketing Has Made Businesses Millions And Ordinary People Millionaires.
Affiliate marketing may be your next best career move.”
However, if you ask me to recommend one piece of information that would help you get started and become a success, I will recommend you attend this Webinar by clicking here or evergreensuccesswebinar.com Attend the training and be sure to take notes. John has helped thousands of people succeed and you could be next.
If you want me to write in any particular area on Home-Based Business Opportunities, make money online or related topic(s); please e-mail me at Casimir@casimirbiriyok.com
14 GREAT Home-Based Business Ideas for everyone.
He believes in exposing the home business opportunities in the changing workplace. The Author has both Corporate and self-employment experience.
Web site: casimirbiriyok.com