A Guide To Getting Started With Affiliate Marketing
Whether your company is new or established, building your customer base and increasing brand recognition is something that everyone strives to do. There are plenty of ways to do accomplish this- through marketing campaigns, working with influencers, and word-of-mouth marketing. One method that has risen in popularity over the years is affiliate marketing.
What Is Affiliate Marketing?
Affiliate Marketing is an agreement in which an individual or business sends traffic or sales to another business for a commission. This can be done in a variety of ways, depending on the business and individual. Most commonly affiliate marketing is done via social media, web content, or product integration.
How Does Affiliate Marketing Work?
Affiliates get their own custom link or code for customers to use when purchasing a product. Every time someone uses their link or code, they make commission. Affiliate marketing is low-risk for both parties. If the affiliate does not make any sales, the company does not lose any money. If the affiliate does make sales, both parties make money. Although affiliates are getting a percentage of the sale, they are also bringing in a larger audience and helping you make more money.
Types Of Affiliate Marketing:
The first type of affiliate marketing is unattached. This type of affiliate marketing is for affiliates who have no connection to the product that they are promoting. In this case, the most common method is running a pay-per-click ad, and hoping that shoppers will click the affiliate link. This is typically used by affiliates who just want passive income.
The next type of affiliate marketing is related. Related affiliate marketing is used by those who are related to the niche, but not necessarily to the product or service. For example, a makeup influencer could promote a new product from a brand they’ve never tried before and share it with their audience. They have a following in the makeup niche but are not attached to the actual product or brand they are using.
The last type of affiliate marketing is involved. These affiliate marketers will only share products and services that they believe in. Involved affiliate marketers tend to be successful because they are unlikely to promote products that they do not like. If they start advertising products that they do not believe in, then they are going to lose the trust of their audience. By promoting products that they truly believe in, they have a much higher chance of making sales. It is also easy for them to promote these products since it is something they themselves enjoy using!
Affiliate marketing works for almost every industry, and is a great way to boost sales and grow your audience. Affiliate marketers are easy to find, and it is a low-risk option for everyone involved. If you do choose to use an affiliate program, make sure that your affiliates are legitimate by having them fill out a quick form. Don’t discount affiliates with a smaller following- even if they do not help you make a high number of sales, they could open you up to a whole new audience! Do you use affiliate marketing for your business? Have you ever tried being an affiliate marketer? Let us know in the comments!