Multiple Strategies of Affiliate Marketing for Your Business
Affiliate marketing has become a massive online marketing over the past several years, emerging as both an effective way for marketers to sell their product and services for publishers to monetize their audience. The risk to use affiliate marketing is extremely low and the reward is high. One of the other reasons of affiliate marketing can provide higher ROI because it is performance based. Merchants only pay for actual customers, not just visit. This gives affiliate marketing a big advantage over other channels where it’s easy to spend a ton of money on clicks without producing any actual conversions.
Affiliate marketing can be the outsourced marketing, in which you are hiring affiliates who are paid to bring customers. If they drive visitors to your website, you don’t have to pay them. You only pay them if they convert visitors into customers. The main goal of affiliate marketing is to increase number of customers. If you generate a million visitors a month, but the visitors don’t equate to more leads or revenue, it’s almost useless. That is why the affiliate marketing space is so popular, especially in the web hosting industry, where most of their business is from affiliates.
Publisher is nothing but an affiliate, associate or partner is an individual who advertise the products and services of a business in exchange for a commission on all qualified clicks or sales. Publisher promotes the advertiser by displaying ads which can be in the form of banner ads, text links, search box, etc.
Advertiser is a company that sells a product or offers a service. They partner with publishers so as to generate more sales and leads. Advertisers prefer affiliates to market their products as they need to pay only for conversion clicks PAY PER CLICK , Leads PAY PER LEAD OR ACTION, Sales PAY PER SALE, etc.,
- Pay Per Click – It is an internet marketing in which advertisers pay a fee for each time one of their ads is clicked. PPC is one of popular form in Search engine advertising. It allows the advertisers to bid for ad placement in a search engine sponsored links when someone search on the keyword that is related to their business offerings .it’s really a good one for advertisers as well search engines.
- Pay Per Lead – In pay per Lead the advertisers pays you a commission for a qualified action where the advertiser pays the affiliate based on the conversion of leads, such as file or software download, completion of a signup form for a newsletter, trial offer signup or other desired action .
- Pay per Sale In pay per sale programs the advertiser pays you a percentage of all qualified sites. Paying per sale is often seen as the payment model most favorable to advertisers and least favorable to publishers. In such an agreement, the publisher must not only be concerned with the quality and quantity of his or her audience, but also the quality of the advertiser’s creative units and destination site.
Advantage Of Affiliate Marketing
- Affiliate marketing is a Joint and mutually beneficial business partnership between merchants and website publishers.
- Merchants gain a wider place to sell their products and services, resulting in more customers and more sales. They can gain more customers without spending valuable time in searching for them.
- The affiliate marketing program provides an easy way to create additional sources of income for website publishers and owners. Marketing banners of merchant’s products generate instant sales wherein they get a commission.
- It does not require a sizable investment on the part of the affiliate.
- The affiliate does not have to worry about customer support, book keeping, and e-commerce related headaches since in affiliate marketing, the merchant handles it all; all the affiliate needs to do is promote and resell the product.
- Affiliates can secure high search engine listings and display your ads on their website. This is all free brand exposure and a great side benefit of affiliate marketing.
- There are many benefits of being an affiliate; however the main benefit is quickly maximizing your earning potential from the visitors to your website with little or no cost and effort. Affiliate marketing is primarily done online you can benefit from doing it from anywhere in the world with internet connectivity.
Affiliate marketing is still an essential digital media channel for many transactional Ecommerce sites for retailers, travel and all other business services. It is also a revenue model to consider for site owners, especially online publishers. Affiliate marketing still remains as one of the best ways to make money online.
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