Affiliate marketing is a process where the brands and the content creators work together to promote the brand and its products. In this blog, let’s discuss about the affiliate marketing in details:
WHAT IS AFFILIATE MARKETING?
Affiliate marketing is a type of marketing where the brands use the famous influencers and content creators to promote their products in return the creators get commission in every sale of the product. This helps in promoting of the product or services and to generate sales through a third party in which they got commission in per sale.
Affiliates: The people or creators or the third party who promote the brands, products and services referred as Affiliates.
Affiliates have a unique affiliate link which they use in promoting the brands, this link is connected to the brand services and products. Whoever clicks this link and buys any service or product through this link, the affiliates gets commission on every click or purchase through that link.
Nowadays, affiliate marketing is becoming as an effective method of promoting of brands. It is also becoming a popular way of side hustle to people.
IMPORTANCE OF AFFILIATE MARKETING
Affiliate marketing plays a crucial role in the digital marketing concept as one of the successful ways used in the promotion of the brands or products. Building a successful career in this marketing is not as quick easy it will take time and strategy to be successful. The most important thing for successful career in affiliate is by building trust of customers.
Working on the same niche is the must while doing affiliate marketing means promoting the products of same niche and being consistent on it can help in your growth. For Example:- if your niche is footwear, then you should only promote the products of footwear or related to footwear this can also built an impact on your affiliate marketing career.
For knowing the wider concept, let’s check the types of it:
3 types of affiliate marketing
- Unattached affiliate marketing
Unattached affiliate marketing is used when the affiliate is a advertiser or promoter. They are not related with the affiliated brand, product, services, or niche, and may had promote a wide range of affiliate products to multiple people or users.
Unattached affiliate marketers mostly uses pay-per-click (PPC) advertising method to make and reach customers on social media, website and blog pages.
- Related affiliate marketing
Related affiliate marketing is the process of promoting products or services that are upon the interest of their users. An affiliate in this type of situation affiliate will catch the interested category of its users and will build a following through blogging, YouTube, or any other types of content marketing for affiliating.
Related affiliate marketers can may be influencers because it will build trust to customers for recommending products.
- Involved affiliate marketing
Involved affiliate marketing refers to the creation of content of the product or service that includes the affiliated product or service. This could be the product review, a blog related to the product or other content related to the product’s benefits.
Many involved affiliate marketers gain a positive attitude towards users for trusty, useful product recommendations. Earning an audience’s trust is the best way for beginners to build an affiliate marketing business.
AFFILIATE MARKETING PROS AND CONS
Affiliate marketing is a concept used by thousands of people and you can use it too but before that lets see some advantage and disadvantage of it:
AFFILIATE MARKETING ADVANTAGE
Easy to use
Affiliate marketing is a method that anyone can use it without much experience because it is very is to use and execute. The main goal of affiliates is to get lots of users on their link without much complexity and it has to be user friendly.
Ability to grow
when you get successful in affiliate marketing, it can increase your revenue and earning based on your works. You don’t any other workers or employees to get growth in this marketing. Affiliates can introduce new products and service to their users without any additional worker or employee.
Low risk and investment
Doing or joining an affiliate program mostly does not cost anything. Once they started all they have to do is get users on their link which is all done online that means it also has zero risk.
AFFILIATE MARKETING DISADVANTAGE
Limited Control
Affiliates have to follow the set of rules for doing affiliate program. This may can include some limitations in promoting a product to how can this product be promoted. Another limitation of it is that it only give a fraction of the commission means if you are a fresher in this its very difficult for you to earn a decent amount because it only pay when you completed the minimum requirement of users. That’s why to earn a good amount of money requires lots of time and experience.
Takes Time
As I said earlier, as a new person in this field earning can be difficult at first because it requires a lot of users and time to earn a decent amount. It only gives a fraction of commission on each products. Its not a quick method to get rich in a short spam of time.
HOW IT WORKS
Basically affiliate programs are free to join so anyone can join them. Affiliate marketing works by allowing anyone to use its affiliate program whether it is a influencer or not. It can be used by any individuals or anyone as long as they are promoting the product and bringing sales.
Let’s see how Affiliate marketing works on higher level:
- An affiliate promotes an affiliate link to their website visitors, blog readers, or social network followers.
- A user which is their member clicks the link.
- The user member makes a purchase.
- The affiliate network notice the purchase.
- The affiliate gets paid a fraction of that purchase as a commission.
Commission rates for sale of the affiliate product basically depend on the product, service and the limitation or norms settle between the affiliate and the brand. If a product is 100$ than the 5% of the commission from it will be given to the affiliate. The fraction can may be increase or decrease by brand to brand.
There are some high end niches which have high commission rates such as pet products, food, beauty, finance and much more. Products from these niches can have high commission rates.
CONCLUSION
In today’s life where people tend to trust and follow their favorite influencers and creators online affiliate marketing emerges as a smart way to brands promoting their products through influencers and creators. Meanwhile, affiliate is an old way of marketing but nowadays as everything is digital affiliate marketing has also become digital.
It is a great way to earn by simply joining an affiliate program and just doing few steps but it also requires some smart strategies and time to make it as a full time job. Although it is not an easy way to get rich but a good way to start as a side hustle.
