Affiliate marketing is a key strategy in today's e-commerce industry. And the majority of e-commerce advertisers will attest to its value and efficiency.
So what is affiliate marketing from an affiliate marketer's (or publisher's) point of view? It's simply the act of using online advertising and promotion of products and services via tracking links to redirect buyers to the advertiser's website.
With affiliate marketing, an advertiser's brand and services gain popularity through the creatively executed promotions of affiliate marketers. It is an extremely powerful way for advertisers to reach and attract online shoppers to make a purchase.
The business world is huge, complex, and competitive. Anyone can join and open any business and compete with other traders. Thus, advertisers depend on affiliate marketing to gain an edge over their competitors.
But, enough about how affiliate marketing benefits the advertiser. Here's what to know about affiliate marketing, and how it can benefit you, the publisher.
It's Great Way To Earn Cash
As mentioned above, merchants need online advertisers to enhance business profit. Therefore, they need you, the affiliate.
If you have your own website, you can use it as an avenue for passive earning by acting as an affiliate for already popular products.
Why focus on famous brands or services? Simply because popular products are already widely known and don't require too much persuasion to attract buyers. That is, you don’t need to exert too much effort on advertising because online buyers are more likely to search for a product with which they are familiar.
A popular product is well-liked by consumers. It might be because the product quality and uses fit the needs of shoppers. As a result, you can make use of this product's popularity to gain more online consumers and advance them to the main website. Thus, you get greater commissions with less effort.
On the other hand, with unpopular products you need to start at square one with basic advertising and promotion, which means catching customers might be more gradual.
However, you should always keep in mind the types of products that best suit your audience. Marketing something that your audience will not be interested in will be a waste of time — whether that product is popular or not.
It's Easier Than Building Your Own Company
Affiliate marketing is valuable because it's much easier than building your own company and creating your own products. But why?
First, creating your own products requires a lot of time. The product has to undergo planning, drafting, experimenting, and so on. The product has to then be proven and tested to ensure quality and draw interest from buyers.
Second, much more effort is involved in opening a business than is involved in simply advertising and promoting another company’s products. Brainstorming how to get started, knowing what steps to take and when, and understanding all the ways you'll need to comply with various regulations are all very time-consuming.
The Process Is Easier Than Many Other Jobs
To become an affiliate marketer, you start by signing up with a company’s affiliate program. You can even join the affiliate programs of multiple well-known products at once.
Then you build your own affiliate site and use the tracking links given to you by the advertisers to connect your site to theirs. If your visitors click through and become online consumers, you earn rewards in the form of commission. It's that simple.
It Turns A Profit Relatively Faster
Unlike selling your own products, affiliate marketing generates profits more quickly. That's because, with selling your own products, your first order of business is to regain the resources you've invested.
However, aside from starting and managing your website, there's no investment required to join an affiliate program. The only major initial investment is your time and effort. Any commissions that roll in are instant profit.
Affiliate marketing can be an excellent way to earn passive income and build your business. All it takes is a commitment and a measure of patience. If you're serious about getting started with in the business, check out our post series Affiliate Marketing 101.