Affiliate marketing can be described as earning commission income by promoting other company’s products. Once you get a product you like, you can promote it and earn a piece of the profits.
An affiliate network is an intermediary between the seller and the customer. The marketer exposes the company’s products or services to the prospective customers on their blogs, websites or social media networks.
What is affiliate marketing about in 2018?
This type of marketing involves four parties, the merchant, network, publisher, and customer.
The Merchant: this is at times called the creator, retailer, seller, vendor, or brand. He creates the product and can be a big corporation that manufacturers the product or an individual merchant. They just need to have a product to sell.
The publisher is also known as the affiliate. This party promotes the affiliate products by convincing the customers to buy from the merchant. This can be achieved by reviewing products in a blog. It can be a full site dedicated to reviewing cool products related to a certain topic. The affiliate will market to the consumer through whichever channel they deem fit. This can be through social media, content marketing blogs, search engine, or digital billboards. It is up to the affiliate to inform the customer that they are a part of an affiliate network.
This party makes the affiliate system go round. If the customer does not make a purchase, no one earns a commission and no revenue to share. The customer does not pay a higher price as the related costs for the affiliate network have already been included in the retail price.
The network: most people do not regard this as a party to the affiliate marketing but it is. It is the intermediary between the merchant and the affiliate. An example of a network is Commission Junction and ClickBank. They track the affiliate sales and deliver the payments efficiently.
The network also serves as a database for many products from which the affiliate can choose from.
The basic steps in affiliate marketing
Affiliate marketing is as easy as ABC.
Your work is to recommend a product to your followers and network.
When properly marketed, some audience will buy the products from which you will get a commission.
Affiliate Marketing is often known as Content Marketing.
The job of the affiliate is to provide enticing content to help their readers to understand more about the product or service.
1. Choose the channel
Once you choose the online presence with an adequate audience, you can place the linked products and convince them to buy. This can be on a blog, your website, social media site or other places where you have listeners.
2. Partner with the merchant
Get affiliated with the seller of the products you want to recommend. This allows you to place the product links on your site and talk about them then when the customer clicks on the link they can buy and earn you some money.
3. Promote the product or service
The main task is in promoting the affiliated products. There are main ways to market the products to your audience. You can blog about it, place a banner on your site, write a post about it and so on. With a very method of promoting the product, you have to place the relevant affiliate link that contains a special ID that will link it to your affiliate account for payment purposes.
4. The purchase
When a follower clicks on the link and decides to purchase, you will earn a commission on a complete purchase. They pay after a specific period or when the amount reaches a specified minimum amount
How to get the most out of affiliate marketing
– It is crucial that you work on ways to increase traffic to your site or page.
– Diversify on the types of products your market, with time you will notice the ones that bring the most margins and sells more.
– Carry out lots of research on the best-paying networks and products. Some products may sell at high prices yet the commission just trickles when you get a successful sale.
– Consider the products that are moderately priced. Very low selling products will just take your time yet bring in little commissions.
– Take note of the affiliate products others are using and see if you can get in and market it.
– Working on it regularly will ensure you keep active and create fresh content that is relevant and current to the benefit of the customer. It is all about making your audience’s life easy and guiding them in making the right purchase.