Defining affiliate marketing
Affiliate marketing is a performance-based marketing. Or a business rewards affiliates for each kill a customer or visitors are brought in by the affiliates own marketing efforts, Let’s pretend it’s you or me as well and we reward our affiliates for each visitor our costs more. They bring through their own marketing efforts. So it’s not just for products. It also applies for services right. So those who are good at what they do will thrive. Those who are bad will fall away and it’s proper true survival of the fittest.
The four major pillars
So first you have your merchant or your retailer. These are the ones offering the program. So for example we’re going to pretend that it’s we the online academy are going to start off in this example as the retailer. Then you know we are looking for clients we want clients.
So what do we have a publisher or an affiliate. Let’s just pretend that’s you in this case. So you are going to be promoting the offer or the products that we want to promote most major merchants actually start out as affiliates learning the ropes generating revenue and then they become the merchant there after this is kind of the lower risk method of learning the market and entering the market because it lets you gain a little bit more experience without taking on too much risk. Then of course the third pillar is the important one.
The customer or the end user. This is the third party. This is the person who is looking to actually purchase the product. This is the end user. The more information. The merchant knows of their intended audience and the affiliate knows of either targeting that same person that same audience the better the cause the better it will work out the customer often wins out here is because the big picture is that the product can be offered at a dramatically reduced and lower price because the merchant can offer a much lower price because there is less you know extra spending on marketing and the affiliate can make a healthy profit while still being cheap relative of course speaking for the client. So it’s kind of a win win win all around.
And how it’s usually built then the fourth pillar is your network or the offer for affiliates. This is what connects everybody you know it’s kind of the meeting room where the merchant and the retailer meet agree to their business terms how they’re going to do it and then go out and give the offerings to the third party or the student.
So let’s talk about the scale of affiliate marketing. Affiliate marketing is often views a small scale or for a get rich quick type scam endeavors. But that is not the case and Affiliate Marketing is excellent. When used correctly. However the merchant needs to have proper offerings otherwise the whole thing will fall down. It is worth knowing that most large highly successful business publicly listed as well use these channels to a lesser degree depending on their sector and of course they’re offering.
One of the greatest aspects of online affiliate marketing is generally you only pay for customers or if you decide that you know customers isn’t exactly what you want. You’re willing to pay for qualified leads. That’s what you pay for you decide what you’re paying for and you only get that and you only pay for that. So it is performance based to every degree. So it takes most of the financial risk out of it. Now when I say most that does not mean all we will still be considering some financial risk and I want you to be aware of that because it is a great system.
The platforms available
Tips for successful affiliate marketing
- Focus on Creative Material
- Provide Affiliate Software
- Stay in Contact
- Train your virtual team!
- Focus on the winners
- Provide tiered incentives
Benefits of affiliate marketing
- Low Risk
- Search Affiliates
- Builds your online authority & ranking
- Ready made specialist networks / providers
- Global 24/7/365 workforce