Here is everything you need to know about Affiliate marketing and how you can use it to your advantage.
What is Affiliate Marketing?
Affiliate marketing is a referral program where affiliates send traffic to sites for a commission.
What is an Affiliate Network?
This serves as the intermediary between traffic partners) affiliates and commerce sites.
How Affiliate Marketing Works
An affiliate simply searches for a product they have enjoyed and is still enjoying and promotes the same product for a piece of a profit from each sale they make.
These sales are tracked through affiliate links from one website to another. This service manages to leverage the abilities of a variety of individuals for a more effective marketing strategy while providing contributors with a share of the profit.
Once an affiliate link is clicked, a small file known as a cookie is stored on the user’s computer.
Once the consumer buys the product, the merchant can see that they were referred by you and boom!!!
Your pay starts counting. Three parties must be involved in affiliate marketing. They are
- Seller and product creators
- The affiliate or advertiser
- The consumer.
The Seller and Product Creators
The seller can be a vendor, merchant, product creator, or retailer with a product to market. The product can either be a physical product or a service (brand).
Here, the seller may not be actively involved in the marketing, but may also be the advertiser and profit from the revenue sharing linked with affiliate marketing.
The Affiliate or Publisher
Here the affiliate otherwise known as the publisher can be either be an individual or a company that markets the seller’s product in an appealing way to potential consumers.
Once the consumer buys the product, the affiliate receives a portion of the revenue generated from the sale.
The consumers are the ones who buy the product and are the drivers of the affiliate market. The consumer may or may not be oblivious of the commission the affiliate marketer gets when he/she buys a product.
The consumer completes the purchase process and receives the product as normal.
Types of Affiliate Marketers
- Paid search focused microsites
- Email lists
- Large media websites.
How to Get Paid as an Affiliate Marketer
As an affiliate, you get paid in various ways;
Pay per sale
Here, the merchant pays the affiliate a percentage of the sale price of the product after the consumer purchases the product as a result of the affiliate’s marketing strategies.
This implies that the affiliate must actually get the investor to invest in the product before they are compensated.
Pay per lead
This is a more complex system where the pay per lead affiliate programs compensates the affiliate depending on the conversion of leads.
Here, the affiliate must persuade the consumer to visit the merchant’s website and complete the desired action.
Pay per click
The pay per click program focuses on incentivizing the affiliate to redirect consumers from their marketing platform to the merchant’s website.
This implies that the affiliate must engage the consumer to the extent that they will move from the affiliate’s site to the merchant’s site.
Here, the affiliate gets paid based on the increase in web traffic.
How to Start Affiliate Marketing
Here s a simple step by step guide on how to start affiliate marketing;
- Find a product you want to promote
- Carry out a search for “product name” affiliate program.
- Register for their affiliate program
- You’ll receive a special link that enables the merchant to track the people who clicked your link.
- Once these consumers buy the product, you get a commission.
Find a product, promote the product and get paid anywhere any time with Affiliate marketing.