In simpler words, affiliate marketing is a model of advertising, where individuals unattached to a company or organization market products and services for that company or organization and get paid according to sales they generate or according to their conversation rate.
Each affiliate is given a unique link after their application to advertise a product is accepted. This link is known as an “AFFILIATE LINK”. This link is what the affiliate uses in marketing his Affiliate Products and Services.
WATCH THIS NEW AFFILIATE MARKE
HOW DO AFFILIATES GET PAID?
After getting your affiliate link, the rest of the work is left for Affiliate Marketer to reach out to potentially customers and convert them into actual paying customers who purchase products.
Companies do not pay affiliates based on the traffic they generate, but based on the amount of sales done through their unique affiliate links.
Each link is monitored through cookies so there is no mix up, and sales through this link is noted. Traffic and traction is nice for your brand,but sales is what keeps up the brand.
WHAT DO AFFILIATES GET PAID (EARN)?
At the start of each affiliate program, a certain percentage(%) is stipulated by the organization for each product. For each product an affiliate marketer sells he/she gets this stipulated percentage of the money made from each sale.
This percentage applies across all products being sold, so the more one converts or sells,the more money one earns via his/her percentages.
TYPES OF AFFILIATE MARKETING
There are three main types of affiliate marketing:
- UNATTACHED AFFILIATE MARKETING
- RELATED AFFILIATE MARKETING
- INVOLVED AFFILIATE MARKETING.
- Unattached : This is a type of affiliate marketing in which the affiliate has no ties to the product or service he/she is promoting. In this case the affiliate has little or no knowledge about this product being promoted and as such cannot make any claims about it’s use. The affiliate just does his job and promotes the product or service without any attachment to customer without any recommendations or advice.
- Related : This is very different from unattached affiliate marketing. This type of affiliate marketing involves the promotion of goods and services by an affiliate who has some kind of connection with the product or service being promoted. In most cases the connection is usually between the affiliate marketers niche and the product being promoted. Meaning in most cases the product being promoted falls under the niche of the affiliate marketer. In this case the affiliate marketer has an influence to generate traffic and increase sales since the product falls under his/ her area of specialization. However the affiliate marketer makes no claim about the use of this product or service.
- Involved : Unlike the previous two types of affiliate marketing above, this type has a deeper connection between the affiliate marketer and the product or service being promoted. In this case the affiliate marketer has used the product or service being promoted and is able to give feedback based off what he/she has experienced with the said product or service. In this case the main advert here is the experience of the affiliate marketer. Recommendations are made in this type of affiliate marketing and as such, the reputation of the affiliate marketer is at stake if problems arise from the use of the said product or service.
EXAMPLES OF AFFILIATE MARKETING NETWORKS
The following are popular affiliate marketing examples on the internet:
This affiliate marketing program is one of the world’s leading affiliate marketing programs. Creators, publishers, and bloggers sign up to have Amazon products and services shared on their platforms and they get paid when sales are recorded using their affiliate links.
Amazon however has stiff rules when it comes to their affiliate program, so marketers are very careful when using this particular affiliate network.
eBay’s Partner Network is eBay’s affiliate marketing program that pays affiliate marketers for sharing their personal listings outside of eBay. The affiliate marketer earns a stipulated commission and may earn credit towards their final merchant fees. eBay affiliates could also earn stipulated commissions on other seller’s items.
ETSY is a worldwide, online market for vintage goods and other unique items. ETSY however promotes its products through various channels, including affiliate marketing partners. Affiliate markers are to submit an online application through its affiliate program portal. To qualify as an Etsy affiliate marketing partner, prospective candidates must;
- Be 18 years of age and above
- Have an active brand or platform as well as meet other requirements and criteria.
Parting Note : Affiliate marketing is one of the major high paying online jobs. As with other high paying skills and jobs, effort, hardwork, dedication and consistency is required. The pay however makes it all worth the effort.