Do you want that people promote your business enthusiastically as you do? Hey everyone, this is P S Kathait, your digital marketing friend. And today I am going to share what is Affiliate Marketing, how does it work, and how you can leverage it.
Who is an Affiliate and What is Affiliate Marketing?
An affiliate is a person who promotes the products and services for businesses through their audience network. The affiliate can promote your business through a website, YouTube channel, podcast, email marketing, or by running ads. Or through any other method. And in return, that company or business offers him or her a commission for that sale.
What is Affiliate Marketing?
It is a performance-based marketing method where a person drives sales for your business. And in return, the business offers a commission to the person. Now, there are two approaches to it. One from the business point of view and another from the affiliate’s point of view. Let’s see each of them one by one.
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Affiliate Marketing from Business Point of View
If you are a business, you would obviously want to increase sales. So, just start your affiliate partner program. All the big companies like Amazon, Flipkart have their affiliate program. Get people to sign up for your program.
And then you can ask them to promote your products for any X amount of commission. This commission can be a percentage amount of the revenue they generate for you.
For example,
- if the price of a product is$300 and you save $200 on it.
Then, you can make $80 or $100 as a commission. Or you can also keep it as a fixed value.
For example,
- Bluehost pays its affiliates$65 each time they drive a sale.
Make sure that the commission you’re giving out is good. Because believe it or not, money is a great motivator. It is because of money they signed up for your affiliate program in the first place. If the commission amount is too low, no one would like to put in their efforts to promote your business.
You can check out Click Bank to get affiliates for your business. If you have a WordPress website, there are a lot of plugins and tools which you can use to manage your affiliate network.
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Affiliate Marketing from Affiliate's Point of View
Now from an affiliate’s point of view, how do things work? Let’s take the example of Amazon to understand this. You sign for its affiliate program which is Amazon Associates. Now you can generate links, banners, and different types of ads to use to promote the products. You put the link in your blog. And now whenever someone buys from your link, you get the commission.
How much?
It can be 2%, 4%, or even 12%. The percentage depends from product to product. And after you hit a threshold, the money is credited to your account. So, in a way, you can say that you are making money while you are sleeping.
If you got to know something new, or if you have any doubt, do let me know in the comments section. Stay Happy Stay Blessed.
