What is Affiliate Marketingand how does it work?
Have you ever imagined someone earning money while sleeping?
Yes, this is possible through Affiliate Marketing. The concept of marketing has evolved drastically over the years, cutting down the boundaries and methods. Improvement in technology and digitalization has opened infinite opportunities.
Digital marketing is the talk of the town, and it has transformed the marketing process and profit-making for businesses. As a result, activities such as Affiliate Marketing have emerged, resulting in a new way of doing business.
Anyone, anywhere, anytime can encash their digital presence. Fascinating right!
Affiliate marketing is a method in which a seller compensates a third party for the sales promotion activities and for delivering traffic into the seller’s website. Affiliate marketers act as an intermediary between the seller and final consumer.
They help the seller in promoting the products and bringing new customers. Thus, giving the seller the benefit of increased subscription. Researches shows that affiliate marketing has an impact in customer trust and willingness to buy.
Competitive Advantage for the Seller:
- Helps in the growth of the Business
- Rise in brand awareness
- Earning passive income
Bloggers and social media influencers are among the common ones to use this technique. Customers can easily connect with these affiliates, thereby increasing the readiness to purchase.
The platforms used by Affiliate marketers are
“While it’s tempting to pull back, we believe that companies that double down on growth will not only rebound faster but will also emerge stronger as a result. “
The advantage that these online websites have is that they enjoy the popularity and network connectivity of affiliate marketers. Therefore, it both increases the sales as well as acts as a steady money-making technique.
How Does Affiliate Marketing Work?
Lets look into the steps in Affiliate Marketing
- Start a blog or social media handle
- Create an online community
- Determine what niche you want to sell.
- Get connected with an affiliate service provider
- Make quality content relavent to the product
- Decide about the campaign
- Constantly measure your progress
Affiliates will receive 5-10% as an affiliate fee for the service rendered which is purely performance based.
The below graph shows the earning of affiliate marketer globally
