8 Dec, 2022 • 4 min
In this day and age, chances are high you have probably heard about affiliate marketing and how it is a great way for individuals to make some passive income through their online platforms.
Traditionally, whenever a salesperson convinces you to perform a specific action, whether it is buying a product or signing up for a service, they will usually get a commission from their employers for a successful sale.
Well, this is essentially what affiliate marketing is all about, except with affiliate marketing, the publisher is not employed by the company she is marketing, and the entire process happens online.
Affiliate marketing is a marketing model where an individual promotes another business’ products or services for a commission every time a consumer performs a specific action. Usually, this action is making a purchase. However, some companies will pay for leads, clicks, registrations, or downloads.
Thus, the affiliate marketer is usually given a unique affiliate link from a business, which they will then promote on their blog, website, podcast, or social media accounts. Whenever a consumer uses this link to perform a specific action, like making a purchase, the business will track this, and the affiliate marketer will automatically earn some money.
The reason affiliate marketing appeals to most people and brands is it provides a win-win situation for businesses and the affiliate marketer. The marketer creates a passive income from their online traffic while the brands get to try a different style of marketing for their product, increasing brand awareness and boosting sales.
For an affiliate marketing system to work certain individuals or entities need to be involved. They include:
The Affiliate Marketer/Publisher – This can be an individual or a company that promotes another person’s products or services for a commission.
The Merchant – This is the company or person selling the product or service the affiliate marketer is meant to promote.
The Consumer – This is the customer that performs the action that earns the publisher their commission.
The Affiliate Network – While an affiliate network is not necessary for a successful affiliate system since the merchant and the publisher can usually find each other on their own. The affiliate network acts as the middleman between the merchant and the publisher, ensuring the most suitable partners find each other.
It Is Flexible
Affiliates can make money from anywhere, provided they have access to the internet. Plus, you get to choose what products you wish to promote and can choose to run multiple campaigns on your online platform or focus on one.
Enables Businesses to Widen Their Reach
The nature of affiliate marketing ensures that your business is exposed to a whole new market. This is a market the brand would usually not have access to if not for the publisher. Hence a partnership with affiliate marketers helps businesses increase their brand recognition.
Great Source of Passive Income
Making money in your sleep is the dream of any individual, and affiliate marketing is a great way to do this. Provided you set up your campaign upfront, you can let it run independently with minimal interference as you keep making money.
All in all, affiliate marketing is a great way for anyone looking to make money online, provided they are willing to put in the time and effort into their campaign.
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