Affiliated marketing is the process whereby the person earns a commission by promoting other’s product. Affiliate marketing means that an advertiser-cum-consumer likes a product and promotes it to others, and in return, earns some money for marketing it. Now let’s dive into how this works.
There are three people in Affiliate Marketing. The advertiser, the consumer and the publisher. The four parts to Affiliate marketing are:
- The Merchant: He is also the maker, the creator, the company or the brand itself.
- The Affiliate: They advertise one or more products or services and tries to draw in potential clients through positive reviews and honest suggestions so that they ultimately purchase it.
- The Network: Every merchant has their individual product space, such as shoe products or makeup products will have different networks. An affiliate can travel and promote the product efficiently within the network.
- The Consumer: The affiliated marketer atoms to target consumer based on their social networking, search engine results, digital billboard, etc.
Especially for perplexed beginners, let’s discuss the main types of affiliate marketing strategies.
- PPC: Pay Per Click (PPC) advertising is a paid method of utilising search engines, websites and blogs to focus traffic to the desired landing page, where the merchant showcases his products. PPC pays each advertiser a nominal fee every time the merchant’s ad is clicked through it. Used to widen consumer outreach.
- Coupons: Coupons are special discounts on an awesome deal for a particular item. Regardless of whether the commission is high or low, the seller will gain the trust of their customer and it will be helpful in long run payback.
- Emails: CTAs (Call-to-Action) like ‘Subscribe for Free’, ‘Enrol Now’ and ‘Get Started’ tied to the top of the webpage ensure that it’s visible to anyone who visits the website. Furthermore, with interesting pop-ups triggered on particular customer actions, merchants can add traction to their marketing.
- Webinars: In Webinars, promoters make a specific audience aware and educated about using different products, in a very user-friendly manner. They give the audience associated benefits and other important details regarding the product and allows the audience to participate and clear their doubts.
- Review based: in this one becomes this sportsperson for the product and tools that the customer uses and hills promotes them according to the needs of the consumer.
A few of the major affiliating marketing companies are Amazon Associates (one of the largest affiliate networks in the world), Clickbank, Rakuten Marketing Affiliates, ShareASale Affiliates, Leadpages Partner Program, StudioPress Affiliate Website, eBay Partners, etc. Affiliates use easy tools to create web-links between the product page and promotion pages. Affiliates earn small on directing traffic and more when a product is bought through their links.
To start an affiliate marketing website one needs 3 things, and around $30/month.
- A hosting Plan – there are other hosting platforms like GoDaddy around $12/month. This hosting plan can host multiple websites.
- A Domain – Domains are cost around $12–13/year.
- An email marketing software which might cost $15/month (starter plan).
Affiliate marketing strategies have taken a turn in 2020, with more focus on affiliate traffic sources. Presently, marketers only promote products which the customers are extremely familiar with, and merchants constantly test and optimize the customers’ conversion rates.