What Is Affiliate Marketing?
There are many ways thanks to the advent of the internet that you can market your business. And one way which you may have heard of already that we are going to be looking at today is affiliate marketing. First, let’s take a look at exactly what it is.
Affiliate marketing, in a nutshell, involves promoting a service or product sold by another retailer, In this instance, it means incentivizing other people to promote your product or services. The incentive usually is monetary via a commission for every sale. Although this isn’t always the case.
Many people make either a side income or a full-time income by becoming affiliates. Some businesses also operate fully as affiliates. You may have stumbled across voucher websites that provide vouchers for different retailers. These are affiliates. They will receive a commission for each sale and offer codes from many different retailers.
And so to grow your sales you’re going to want to think about two things. Firstly, what are you going to want to incentivize your potential affiliates with? And secondly, where are you going to find these affiliates? Once you have the answers to both of these key questions you can then start to plan your affiliate marketing campaign.
The reason why affiliate programs are attractive to those who join them is that they’re typically free to join. And so there are no start-up costs and with the right strategy and influence, they can make a decent return. And, if done correctly, as we’ve mentioned, can make them a full-time income.
The steps to a successful affiliate sale:-
- The affiliate will display an advert or link on their social network or website.
- A potential customer will then click on the link.
- The link itself has tracking on it that can attribute it back to the affiliate
- The customer successfully makes a sale on your website.
- The transaction is completed.
- The affiliate is paid their commission.
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