The Basics of Affiliate Marketing
What Is Affiliate Marketing?
By definition, Affiliate Marketing is a form of “Performance-based” marketing strategy which involves three parties- The merchant/business owner, the affiliate/agent and the customer, whereby the merchant agrees to reward the affiliate with a certain percentage for recommending his products or services to others (the customers). The reward of the affiliate is usually based on his own personal effort.
How Does It Work?
Affiliate Marketing as defined, consists of three different bodies: The Merchant (the person or company who owns the products or services), the Affiliate (the intermediary who is in charge of advertising and promoting the merchant’s business/ brand, and gets commissions on each purchase made by customers who come in through him) and the consumer (who patronizes the brand).
Based on their method of operation, affiliate marketing enables the affiliate to earn by simply promoting a business or brand, and getting people to purchase. Affiliates could play their roles through different platforms, but mostly through digital platforms like websites or blogs. The work of the affiliate is to introduce people to the brand through posts, catchy adverts or other marketing strategies. Affiliate marketing provides a higher ROI than other investments because it is performance based. The higher the number of customers who make purchases, the higher the income of the affiliate.
Steps To Starting Affiliate Marketing
Basically, affiliate marketing involves finding a product you want to promote, signing up for the brand’s affiliate program, getting people to patronize the brand and getting a certain commission when they buy the product. Below are some tips on becoming an affiliate marketer:
Finding a Product: It is important to first have an idea of the kind of product you would like to promote. It is advisable to start up with selling products or services you are so familiar with. A great deal will be accomplished through your individual marketing efforts if you stick to selling what you know. You should stick to a niche that is in line with your current interest or occupation.
Create Your Marketing Platform: Before kicking off as an affiliate, it is recommended that you start a website or blog related to your niche as this will enhance your performance as an affiliate. Some merchants at times would require you to provide a link to your website before approving you as their affiliate.
Join An Affiliate Program: Here’s where you can kick off your affiliate marketing proper. First, you need to have made researches on affiliate programs relating to your niche. Joining these Affiliate programs are most times absolutely free of charge.
Marketing Products: Once you’ve found the right affiliate program to join and you’ve been accepted, the next step is to start marketing the products, and getting people to patronize the brand. You can market the products in different ways like including the affiliate links within your contents, providing catchy ads and descriptions. You need to keep creating descriptive and enticing contents about the products so as to get more people interested in the products.
Benefits Of Affiliate Marketing
The modus operandi of affiliate marketing has made it have much benefits, some of which are listed below:
Affiliate marketing is easy to start up as it requires little, and most times, low cost to start up, and no operating costs are involved too.
As an affiliate marketer, you enjoy the luxury of job flexibility. You are your own boss, and you can choose working hours and your place of work. An affiliate has the opportunity to work from any part of the world, and any time of the day.
You can work as an affiliate marketer and still keep your current job or business. Its is even possible to be affiliated with more than one company or brand. Affiliate marketing serves as supplement to one’s income most times.
There is no risk whatsoever attached to affiliate marketing. You only get paid based on how much you work, and even when you stop working, you don’t lose anything.