Affiliate marketing has now been around for several years and decades. The popular marketing tactic helps common people earn money through an additional source of income. It also helps companies generate more revenue online while keeping their marketing and advertising cost low. More than 81% of business organizations (brands) today are using affiliate marketing. Every year the spending towards the affiliate market increases by approximately 10%, which shows the increasing popularity and success of this marketing platform.

WHAT IS AFFILIATE MARKETING

Affiliate marketing entails marketing the products of some other company or person and receiving a commission for it. Affiliates have to search for the products they would want and enjoy, and promote them online. They will receive a commission when a customer clicks on the product’s web page link and/or when a sale is made. On the Internet, affiliate links are used for tracking sales from different websites. The step-by-step procedure of affiliate marketing is given below.

1. The affiliate marketer will show a link or an ad for any online store/product web page on its blog, website, or social network.
2. Customers will click on the link or the ad.
3. The hyperlink will take the customer to the store’s website.
4. The customer purchases the product/service.
5. The details of the transaction and the purchase are recorded on the affiliate network.
6. The store confirms the purchase as a valid purchase.
7. The transaction and the purchase are credited to the affiliate marketer for the commission.
8. The affiliate marketer is paid for the transaction by the company.

GETTING STARTED WITH AFFILIATE MARKETING

An affiliate marketer is an integral part of an affiliate marketing network, with other prominent role players being the product creators/sellers and the consumers. Affiliates are also called publishers and can be companies or individuals who can market the products/services of another company to the end consumers in an appealing way. The affiliate marketer’s job is to promote the business offering and persuade the consumers. The market will reveal to the consumers how the particular product is beneficial or valuable for them and why they should purchase it.

PAYMENTS MADE TO THE AFFILIATE MARKETERS

In some cases, the affiliate marketer is paid the commission only when the sale is made. Therefore, the affiliates have to be innovative and creative and do all that is necessary to ensure that the sales take place. Affiliate marketing in which the marketer is paid only when the sale is made is called “pay-per-sale” affiliate marketing.

There are also other alternative payment structures in affiliate marketing. For instance, in the “pay per lead” program, the affiliate can be paid when the leads are converted. The affiliate has to convince the end consumer to visit the merchant’s website and take the required action. These actions include filling out an online contact form, subscribing to the newsletter, or signing up for a trial, among others.

Another important payment module in affiliate marketing is “pay-per-click”. Here, the sale is not necessary for the affiliate marketer to earn. The affiliate will be provided an incentive or commission when it redirects customers to the merchant’s website. This increases web traffic to a particular business and merchant website and may result in greater conversions.

As an affiliate marketer, you will cater to the needs of a very specific consumer set or audience. You will promote the product based on the audience’s interests. Unlike mass marketing, affiliate marketing appeals to a particular market niche and customer segment.

WAYS TO DO AFFILIATE MARKETING

There are now many different ways to conduct affiliate marketing and earn a passive source of income. Below are some of the ways you can start your affiliate marketing business.

BLOGGERS: Bloggers may post reviews and descriptions of a particular business offering (service or product) on their website and highlight its positive points/aspects. The blogger will include a link in the blog that redirects readers and web visitors to the merchant’s website.

INFLUENCER: Influencers can sway and influence the opinions of a large number of people. They have a good following on social media platforms (suggest Instagram and Facebook) and other online forums and instances. Influencers can, therefore, easily redirect their followers to the websites of the merchant/seller.

EMAIL: Affiliate marketers may also work through email. They may have email lists that they can use to promote a business offering. These emails may directly communicate a product’s benefits to the end consumer and/or include a hyperlink to the merchant’s website.

MICROSITES: A microsite is different from the website of the merchant’s organization or a marketer’s blogging website. These websites have relevant content for the specific audience and straightforward calls to action. They are part of paid searches that affiliate marketers can use to promote products and earn a commission.

MEDIA WEBSITES: These websites can create web traffic at any time. They may have an audience consisting of millions of visitors and followers. Affiliate links and banners can be used to advertise certain products on these websites.

TIPS FOR BEING A SUCCESSFUL AFFILIATE MARKETER

Below are some tips that will be useful for you when you choose one or more channels for affiliate marketing.

CREATE A RAPPORT WITH YOUR AUDIENCE: To be a successful affiliate marketer, you need to create an audience and following that has a common and specific interest. You can also establish yourself as an expert in the area and can promote a wide range of products.

RESEARCH: You should be convinced that the product or service you are promoting is good enough. When you recommend truly valuable products, you create trust and deep relationships with your followers. Never promote a product or service that you don’t believe in.

REVIEW: You can try the service or product you want to promote and write a comprehensive review. It will be highly informative and helpful for your followers and audience.

USE MULTIPLE SOURCES: Your affiliate marketing efforts and channels may include multiple sources. For instance, you can use blogging websites, microsites, and also be an expert and influencer in the area and niche.

What’s Next?

Affiliate marketing networks are growing throughout the world. While it is a reliable source of income, it also requires regular efforts. See to it that you are promoting valuable products and services and keep in touch with the latest trends in affiliate marketing to succeed. We’ll be adding more content about this soon.