What is affiliate marketing?
Let's start from the basics.
Let’s kick off the first Affiliate Tribune article with the basics, shall we?
I want to keep all articles short and straight-to-the-point helping you learn with bite-sized content.
What is affiliate marketing?
Affiliate marketing is a marketing scheme that gives you an opportunity to earn commissions by promoting a product or service to your audience on platforms like blogs and social media, using your unique affiliate link.
And here’s the best thing about affiliate marketing sales:
You don’t need to have your own product.
You sell someone else’s product.
How affiliate marketing works
You join a program as an affiliate: you can sign up for an affiliate program offered by a retailer or advertiser to promote their products or services using your unique affiliate link.
You share your affiliate link: this is the part described as your affiliate marketing efforts - you share your affiliate link on various platforms such as your blog or your social media accounts.
Always make sure your product is relevant to the audience you’re sharing it with.
Readers click your affiliate link: and are taken to the product or service page.
Readers make a purchase: and you earn a commission from the sale.
You receive your commission: this is the part where your reward comes in for your affiliate marketing efforts, the payday, you’re getting paid. Sounds good?
It’s a win-win for both the product owner and affiliates. Product owners have to make less effort to reach new target customers and affiliates get paid for their efforts.
Some affiliate programs will let you have as much as 60% sale commission, so depending on the product price, you might start to quickly ramp up significant cash in your affiliate wallet.
So, if you are an experienced marketer, you can really make a lot of money these days without having your own product. Sky is the limit to your earning potential.
In next edition, we’ll look at types of affiliate marketing programs so you can decide what affiliate programs are worth your time.
Cheers,
Peter
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