In this blog we will learn about Affiliate Marketing.
Affiliate marketing is a great way to develop a passive income stream.
What is affiliate marketing and how it works.
According to Wikipedia, Affiliate marketing is a type of performance-based marketing in which a business rewards one or more affiliates for each visitor or customer brought by the affiliate's own marketing efforts.
The Affiliate promotes the products of a company on his or her platform. When a person purchases the product through that platform, the affiliate gets a commission.
It is a low cost marketing model where a manufacturer takes advantage of an influential channel. In return the manufacturer or service provider pays a commission to the affiliate for every sale made. It is a win-win situation for both the product maker and the affiliate.
How is Affiliate Marketing put into action?
First step is to identify the products you want to promote.
The product could be something very useful and is in demand.
It may be a product you are very familiar about and you like other people to know about it.
It may be a new product on the market you found useful.
You may explorer the product, by using it or by reviewing the user comments, to see if the product fulfills the needs of the customers.
Once you are comfortable about the product, you feel that the product is worth promoting, get the tools that the company provides for the promotion.
Ways to promote Affiliate Marketing online are given below:
Blog based Affiliate Marketing:
Imagine you are looking for a cooking range. What is the best way to find what is available on the market?
You may Search on Google search.
What you find is the page of the product you are searching for.
Then you decide to make a purchase from that page itself. As you have made the purchase due to the marketing efforts of an affiliate, the affiliate is paid a commission.
Similarly in affiliate marketing, you write a review about a product on your blog or website and attract the visitors to purchase the product.
You may provide great insights into the product, provide a demo, show the item in a very clear and impressive way.
The better your content, the more traffic your site will attract. If visitors find things that are relevant to their search, the more likely they are to make a purchase.
This purchase of a visitor is called a conversion. The more the conversions the better the affiliate earning.
How to start Affiliate Marketing without a website? Email affiliate marketing could be the answer.
Email based Affiliate Marketing:
In your email correspondence, you may describe the product you are promoting to the email receipient.
You provide a link to a page from where the purchase is completed.
This link will be provided by the company whose products are being promoted.
Once any of the email receipients make a purchase using your link, you will be making an earning from it.
Social Media based Affiliate Marketing:
Your social media presence can be a great avenue to promote the Affiliate Products.
Facebook, Twitter, LinkedIn, Instagram, WhatsApp etc., enables you to reach out to your followers and promote the products there.
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