With the recent explosion of digital marketing, many marketers and publishers are taking advantage of the growing number of affiliate networks to help generate more sales and income. But what is affiliate marketing? Below we look at how affiliate marketing is being used by businesses around the world.
What is affiliate marketing?
- Affiliate marketing is a type of online marketing in which individuals known as affiliates earn a small amount of money referred to as a commission by recommending and promoting a company’s or someone’s products or services. These companies are technically the employers of these affiliates. Hence, Affiliates are individuals that promote products to earn the commission each time their recommendation makes a sale.
Why do businesses use affiliate marketing?
- Many online businesses tend to use affiliate marketing programs as a means of creating and generating sales and traffic for their websites and businesses. These companies pay high commissions that are proportional to the amount of traffic and sales that are generated by the advertisements placed on the affiliate’s website or blog.
Affiliate marketing is beneficial for both the affiliates and businesses because it creates income for one party and promotes the sales of the other. Not only is it an easy and relatively quicker way of making money, but it also ensures lesser physicals exertion for the affiliate and a good alternative for those who do not have the time for proper everyday jobs.
Individual companies use affiliates to promote their products, especially as a means to get through to customers they would not have access to. For example, if a particular company does not have access or cannot reach out well enough to a certain community or a certain area, then by using an affiliate that is popular amongst the market they wish to enter, they can get through to people they generally would not be able to get through to. In this scenario, a famous vlogger, blogger or social media celebrity could easily be employed. Using social media platforms ensures a higher influx of potential customers for the company and also promotes sales. In this manner, these companies get to expand the network of their clients while creating new jobs and not having to spend a lot of their resources on marketing and advertisement purposes.
Getting started with affiliate marketing
Whether you are a business or an affiliate, there are several easy ways to get started with affiliate marketing. The two most popular affiliate networks are AWIN and Rakuten. Both of these affiliate networks are well established in Europe and the US and offer businesses and affiliates a relatively fast and easy way of developing their affiliate marketing efforts.