Everything You Need To Know About Affiliate Marketing
Everything You Need To Know About Affiliate Marketing
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| Affiliate Marketing |
Affiliate Marketing involves a company paying a commission or some other bonus to person (the affiliate) who understands effective customer engagement and promote the company to a friend or colleagues who then becomes a new customer of that company. About 80% of brands and 84% of publishers use affiliate marketing.
Let's take an example to understand it more clearly:
Let's say you try a hair oil for your hair. Your friend notices how long your hair look and asks which hair oil you're using. You tell her that is this a new one you've been trying and love it. You send her own affiliate link to your hair oil and she buys it based on your recommendation. You then earn a commission by promoting hair oil product to your friend.
As you see that, there are generally three parties involve in this marketing:
1. The Merchant (the person or the company who were selling something)
2. The Affiliate (the person who promoting the other company's product)
3. The Customer (the person who buy the product on the recommendation of affiliate)
In affiliate marketing, all the three parties are happy because they get the equal consideration from each other. The customer is happy because they get the product or services which they hadn't known before. The affiliate is happy because they have earned a commission by promoting company's product. The merchant (or the company) is happy because they increased sales with minimum marketing investment.
How Does Affiliate Marketing Work?
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| How Affiliate Marketing Work |
Are your interested in becoming an affiliate marketer? Or Are you simply curious about how affiliate marketing works?
If you answered "Yes" to any of the above questions, then this article is relevant for your purpose.
Affiliate marketing works in four simple steps:
1. First of all you may have to sign up on a merchant affiliate program
2. Then you may have given a tracked link by your merchant to promote product on your website
3. A customer click on the products and the link redirect it to the merchant's website
4. When customer buy product from your tracked link. the merchant and the company may provide you commission.
How Do Affiliate Marketers Get Paid?
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| How Affiliate Marketers Get Paid |
As an affiliate marketer, there are various options you could get paid:
* Pay Per Sale - The merchant pays the affiliate a percentage of the sale price of the product after the customer purchase that products.
* Pay Per Lead - The merchant pays the affiliate when he induced the consumer to visit the merchant's website and complete the desire actions such as filing out a contact form or subscribing to a newsletter.
* Pay Per Click - This is the way to redirect your customers to the merchant's website and get paid on the increase of web traffic.
How To Pick The Right Affiliate Marketing Strategies For Your Business
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| Affiliate Marketing Strategies |
Affiliate marketing is a viable monetization method for any business, but the success of your campaign depends on choosing the right strategy. So, here we discuss how to pick the right affiliate marketing strategies for your business.
1. Ensure the strategy works for your audience : Do they use more social media? Do they search Google for their answers? Know on which platform your potential customers are and target them from there.
2. Understanding the kind of content your audience responds to : You have to understand that on which types of content your audience is generally interested.
3. Which offers work best for your particular audience?: Is it free gifts? Discounts? competitions?. The right offer will induced your particular audience.
4. Use A/B testing : Compare the results and use this data to refine your affiliate strategy.
5. Understand your customers' pain points : You must understand your customers' pain points. On the basis of those points, you may have to provide detailed content and relevant products.
Why Be An Affiliate Marketer?
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| Why be an Affiliate Marketer? |
The following are the reasons to become an affiliate marketer:
1. Multiple Sources of Income: If you have free time, you could promote other company's product and services and increase your income by receiving the commission for the same.
2. No Financial Risk: What interesting facts about affiliate marketing is that it has almost no financial risk. In many cases, the affiliate marketer does not have to invest a single penny in the merchant business.
3. Easy Management: In affiliate marketing programs, all the marketing material is provided by the merchant. Thus, an affiliate marketer does not have to create links. They just use the merchant generated link on their marketing channel.
4. Easy To Join: You did not need to be a business expert in order to be a success in affiliate marketing. All you have to do is just sign up for an affiliate program and start promoting the product.
5. Work From Home: If you are from those people who hates going to the office then affiliate marketing is the perfect solution. These is a job which you can do without ever getting out of your pyjamas.
6. Performance Based Reward: With other jobs, you could work about an 70- hours week and still earn the same salary but affiliate marketing is purely based on a performance. You will get from it what you put into it.
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