Affiliate Marketing

What is Affiliate Marketing?

Affiliate marketing is a way in which companies sell their products and/or services through other companies or individuals (known as affiliates) for a commission.

This is done in two main approaches; you either become an affiliate to another business or offer other marketers an affiliate program.

Affiliate marketers earn a commission fee for each lead or sale they channel to the business owner.

This type of marketing thrives more on the diversity of networks different people have, ensuring that the products or services being offered reach every corner of the world bearing in mind that the bulk of it is done online.

The main challenge entrepreneurs have is finding affiliates capable of reaching the diverse untapped markets with their products or services.

If the product is really good, the chances of realizing the most from any affiliate marketing campaign are high.

Anyway who doesn’t want to lay his or her hands on a high quality product or an amazing service?

If there is demand for something, many people will want to be part of the success story and help fill the marketing gap as they make a few extra dollars on the sides.

To succeed, it is recommended that a product be introduced through a more trusted company, especially if you are just starting with no market presence.

Doing this can grab more prospects’ attention than doing it on your own.

To find trusted and committed affiliates will depend on the offer you place before them.

If the commission is reasonable, the product is good and there is a market demand, attracting affiliates is easier in that case.

It is important to be cautious with affiliate marketing lest you end up competing for eyeballs with your affiliates.

To do this, map out and clearly specify what marketing channels your affiliates should keep off from.

Example, if you are using search engines, email lists or content sites, advise your affiliates to keep off and explore alternative sources.

Having marketing restrictions in the affiliate agreement will help eliminate the confusion-there is nothing wrong in setting the rules for the good of all.

This is however only ideal if you intend most of the marketing efforts.

For those who prefer to let affiliate handle most of the internet marketing, this there should be a caveat on the allowable marketing platforms so long as they get the leads, make their commissions and everyone is happy.

Joining an affiliate program doesn’t guarantee a long term job opportunity.

Those who have ever tried it will attest to the fact that the work can be demanding.

Business owners also want enthusiast who share their business dreams.

Therefore, they prefer working with the best while the rest are left out.

After all, the Pareto principle, also known as the 80-20 rule applies in this case; most of the revenue will come from a small number of affiliates.

Managing a large affiliate network can also be demanding, a lean team is recommended.

Payment for leads in affiliate marketing is done flexibly; sometimes based on the number of leads or sales or periodically.

Most systems allow affiliates to monitor their income in real-time and can withdraw their earnings after hitting a certain goal.

Make sure you do your research on the best affiliate programs and create plan to market.

Don’t just some products down people’s throats…

Figure out a need and provide a solution.

You will see your efforts pay off in the long run.

Best Wishes!

What is Affiliate Marketing? was last modified: April 22nd, 2015 by BJ Henderson

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