Affiliate marketing is the process by which an affiliate earns a commission for marketing another Entrepreneur's, company’s or Franchise's products, services or events.
Successful companies create products and offer services that consumers love, long for and are eager to part their hard earned dollars to purchase. In this equation there are three key players ~ Seller is the company, be it a Local Boutique, a Box Store or an international franchise like Amazon that makes or provides the consumables. ~ Affiliates , basically are essentially the foot soldiers, the publisher and promoters of the seller’s goods and services. Affiliates sell and promote by the use of affiliate links and marketing the on their own platforms, for instance websites, landing pages, personal blog and social media channels. ~ Consumers are of course the buyers of the products and services. Whenever a buyer makes a purchase by clicking on the affiliate link, the affiliate earns a commission on that sale.
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Affiliate marketing is an advertising model in which a company compensates third-party publishers to generate traffic or leads to the company’s products and services. The third-party publishers are affiliates, and the commission fee incentivizes them to find ways to promote the company. This business model is a marketing arrangement by which for example an online retailer pays commission to an external website for traffic or sales generated from its referrals whereby most of the earnings are from affiliate marketing, direct ad sales and sponsored posts".
What are the benefits of Affiliate Marketing?
Benefits of affiliate marketing vary with an individuals goals and engagement in the process. These are a mere few of the several simplified reasons individuals choose to embark as an affiliate marketer: ~ Low risk: Joining an affiliate marketing program is generally free, so you may not need to make an initial sign up investment to start. ~ Passive income: Once you add the affiliate link to your post, you can earn from the sales without putting in extra effort beyond the setting up of a landing page to capture leads. ~No customer support: When customers have queries or complaints, the company - and not you - will be responsible for resolving their issues. ~ Flexible work schedule: Rather than sticking to a traditional schedule, you can work as an affiliate marketer on your own time. ~ Minimal business costs: Traditional businesses cost money. You don’t need standard business infrastructure and overhead to set up shop as an affiliate marketer. You do need online access via a mobile device, preferably a laptop and an internet connection.