Affiliate marketing is considered as one of the best ways to make revenues. It is actually a type of performance-based marketing technique in which the business rewards one or more affiliates if they bring a visitor or sale to the business website through their site.
- It acts as an MLM scheme (Multiple Level Marketing scheme) where there are four main players. The merchant or the retailer holds the key while the network contains the offers for the affiliates to choose and take care of the payments.
- Publisher or affiliate and the customer complete the cycle. So, this is a four layer system to make money and also increase the word-of-the-mouth publicity with minimum investment.
- With the recent introduction of social media and mobile marketing, you can leverage the true power of affiliate marketing because your business advertisements go from 1x to 100x in no-time naturally.
Does it REALLY Work?
- You start getting more leads that convert into sales. At the same time, your business website also receives a good ranking and start developing a solid domain authority for long-term
- It is imperative that you must remain calm and composed during the initial days to build a large affiliate network.
- Affiliate marketing overlaps with different forms of internet market and SEO techniques.
- As compared to many techniques like PPC, affiliate technique is more powered with publishing reviews of products or services offered by the partner.
- It is a pity that affiliate marketing is ignored as businesses run out of patience.
- Many big players like Google generate a major churn of business through AdSense and they have grown this network year after year through potent and patient orthodox internet marketing technique.
- As search engines and website syndication capture the larger attention of online retailers, affiliate marketing continues to play a significant role in e-retailers marketing strategies.
- Today, 80% affiliate make money through pay per sale or revenue sharing model.
- Other frequently used methods include cost per action, cost per click, cost per mile, and other methods. Affiliate network are also considered as a major source for both advertiser and publisher to ‘meet’ and start generating revenue.
- These networks help to compare and find the best advertiser/publisher/brand/affiliate so it does help a lot also.
Real Business Examples With Scenarios
- Let’s take an example of a price comparison or coupon aggregator site.
- These are prime examples of affiliate site that provide information to the customers to compare and make purchases on the original site.
- Now, let’s dig deeper and take an example where the price comparison affiliate want to endorse a newly launched mobile like Reliance LYF Water 5 (as he wants to cash in the recent success of JIO campaign). The site will offer an affiliate program to the business to promote their phone adverts with benefits on their channels. The site will also use the affiliate network to divert leads into their business.
- So, this multiple pyramid scheme will help to generate enough brand awareness to help the price comparison site to drive leads and help people make smart and informed decisions. The site can also divert them into a chrome extension or mobile app to make informed decisions.
- Let’s take another example where a coupon aggregator site wants to publish a coupon in lots of online channels. Affiliates can help to create custom adverts and post these ads with unique benefits of the coupon to divert customers.
- However, the web-site UX, UI, and the overall customer journey from viewing the ads to buying a product must be hassle-free, quick, and engaging so that customer becomes a loyal customer.
What Lies Ahead?
- The loyalty program is the second stage of affiliate marketing to bind loyal customers to buy more products from your site and also recommend those products to other people naturally.
- It will help you to gain a large customer base and also add more customers without spending extra budget.
Conclusion and Points To Ponder
- You need to be patient while doing affiliate marketing and do the basics right (Engaging and keep the customer journey short with a major emphasis on problem-solving and information while product/service sales should be the last step).
- It is critical to use mobile affiliate marketing to push notifications on the popular app though it has still not gained momentum due to the quality of the graphics and time.
- However, as affiliate marketing is a long term mission; you must be prepared to utilize and harness the true power of mobile marketing before the competitors start doing it with full force.
- All the four players must do a proper research as there are a lot of spam publisher and brand existing online just to fool the customer.
- You must use the search engine tools to find the legality of the site before joining the affiliate program.
Lisa Parker a reader, writer, shopaholic and explorer who likes to write about anything to everything. She is expanding her zone in writing and tries to cover different fields. She wrote articles before on mobile phones, management and on many different topics.