Affiliate marketing is considered as one of the oldest forms of marketing. It is a process by which you can promote other companies’ products and services online for a commision. Commissions received are often a sale percentage but can also be a fixed amount as per terms or conversation. It can vary from $1 to $1000, depending on the kind of products or services that you are promoting. Perhaps, the more easier way to explain affiliate marketing is “a process where you as a publisher gets rewarded for helping a business (advertisers) by promoting their services, products or website”.
Affiliate marketing is “a process where you as a publisher gets rewarded for helping a business (advertisers) by promoting their services, products or website”.
A more simplified definition of Affiliate Marketing
Affiliate Marketing Business - “A Win-Win Situation”
You must be asking, Why Affiliate Marketing?
According to a survey conducted by comScore Networks, consumers that click on the affiliate links are likely to spend more time on the merchant website than an average internet shopper.
A study has proved that an affiliate consumer is 43 times more likely to convert online than a regular refered consumer.
Affiliate consumers represent a more dignified and qualified demographic. A study has found that 17 % of the affiliate shoppers are more likely to have a household income greater than $75,000 a year.
An effective affiliate business model is a legitimate and viable tool to monetize a website or blog. At the same time, it’s beneficial for the company or advertiser as well.
“Affiliate Marketing Maybe Your Next Best Career Move.” Larry Bussey
Merchants prefer affiliate marketing to promote their services and products. It is very beneficial for them as they only spend the money for advertising whenever there is a conversion. In the wake of small commision offered to publisher, advertisers get benefits like increased traffic and enhanced overall sales.
Affiliates prefer affiliate marketing because they are likely to find a product similar to their niche. They can generate additional earnings for every converted sale through their website. This can work well in excess of cost per impression or cost per click campaigns.
Customers are the one who actually sees the advertisement and click on the links to visit advertiser’s website. When the consumer purchase a commodity, we call it conversion.
A simple illustration showing ”Affiliate Marketing Business Model” Courtesy : lunarpages.com
The most prevalent questions that you hear is related to how affiliate business marketing works and How companies keep a record of who is sending traffic or making more sales
This is done by availing special hyperlinks or tracking url. These are a unique links given to you by the product company or the merchants. These tracking urls contain a unique ID codes that assist the affiliate company to track all sales and traffic that you are making from your website or through other promotional activities. Whenever you are creating an article or writing about the product or service portfolios, you can integrate the special tracking link in your writeup to recommend the company’s website. If you have enough traffic and your readers are clicking on the tracking urls to make the purchase, you will get the commision.
Every prominent e commerce company including Snapdeal, Flipkart, Amazon etc. offers an affiliate program or Associate program. They have maintained a dedicated FAQ tab, wherein they have mentioned all the details pertaining to the start of Affiliate Marketing association with them. You can simply visit their website and register for the program to avail unique hyperlink. Many of them offer a 30-day grace period, if a visitor is redirected to their sales page using a tracking URL and make purchase within 30 days, you are entitled to get sales commision.
Affiliate marketing can be termed as a part time income, passive source of income and/or a full time career. It all depends on your work domain, dedication levels to build an amazing website and use of modern technology. After reading this article, you must have made up your mind, to start the affiliate marketing business. Do read“How to Kick Start an Affiliate Marketing Business in 8 Easy Ways” for further understanding.
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