There are numerous ways to promote your products online. With the growing number of blogs and other similar websites, affiliate marketing is on the rise, which is why you should learn more about it.
Don’t know where to start? Don’t worry, our Alpha57 team is here to teach you the essentials of affiliate marketing.
What is affiliate marketing?
Affiliate marketing is a performance-based marketing model where a company sells its products through affiliates, who in turn get a commission. In other words, it is online commerce through a third party. Did you ever shop like this? You probably have, but aren’t aware of it. When you browse a website and then see ads related to that website, you are dealing with affiliate marketing. Or when you buy through sponsored Instagram posts, you are buying merchandise through affiliate marketing. Or when you buy a house through a realtor, you are actually seeing the same pattern as with affiliate marketing online – one person is selling the house with the help of the realtor, the seller giving the realtor commission for his work. As you can see, this concept is not that new and unfamiliar.
How do you earn money from it?
Another question you need answered is how the middle man gets payed.
There are several models for doing this rather well-paid work:
Pay per sale
The most common model is to get paid per sale. If someone visits your website, clicks on the link and actually buys the product from the seller, you’ll get your commission. This means you are not only there to lead people to the seller’s website, but you are there to persuade them to buy something.
Pay per lead
Another way to get paid is to be paid per lead, which means you get paid for every potential customer that signs up for the seller’s newsletter, fidelity program, etc. This might be somewhat easier than to get people to cash out and actually buy an item.
Pay per click
The simplest and most lucrative way to get paid is to earn a percent of the income for each click. This means that every time someone clicks on the link on your website, you get your commission, even if there is no sale happening. Because there are numerous people who’ll click, but won’t buy, this type of payment is extremely rare.
What are the advantages of affiliate marketing?
Affiliate marketing is great because it doesn’t require any initial funds from your part. If you want to be the middle man, all you have to do is set up a site and offer your services to sellers. It’s also an amazing tool to reach a certain level of scalability. And, potentially the best part is the fact that it works for an array of sites. No matter the type of your site, chances are, you can find an affiliate marketing pattern for you!
Affiliate marketing is a great way to grow and develop your business and it could work perfectly for your startup too! But beware, don’t go overboard and offer links for all sorts of products all the time as it may drive visitors away.
For more on marketing and startup life, check out http://alpha57.com/, our team is here to help you!