NEW AGE MARKETING
Affiliate Marketing
By Emma Ngutu
Affiliate marketing has become a huge industry . A study undertaken by Astute Analytica foresees a tremendous growth in revenue of the market for global affiliate marketing platform market from US $ 19,217.4 Million in 2021 to US $ 36,902.1 Million by 2030 . ( Source marketwatch . com ). That ’ s a massive increase in just 9 years and shows no sign of slowing down either . Affiliate marketing is a perfect fit for brands that want to build a community around their brand or product , and get lots of exposure but don ’ t necessarily have the resources or expertise necessary to run their own advertising campaigns or hire salespeople .
Let ’ s go back to history for a moment . Imagine that it is 1980 , or some other obscure year prior to the advent of the internet , which would forever alter our lives . You ’ re in your old school baggy jeans , looking for a way to earn more money ( probably to buy more baggy clothes or a walkman ). You learn that Auntie Lucy , a few blocks down , is making thousands of dollars in profit from selling Lady Gay hand lotions . Since you lead a women ’ s group ( chama ) of hardworking moms , you know you have the perfect buyers for Lucy ’ s lotions . What you do next : go over to Lucy ’ s and tell her that you ’ ll promote her products to your women ’ s group , for a slice of the price . It ’ s a win-win right ? The moms get soft hands , Lucy sells more lotions , and you make some money without having to go the extra mile to create your own product .
That ’ s exactly what affiliate marketing is . You build an audience ( the women ’ s group ), then find affiliate partners ( Auntie Lucy ) whose products you can promote . Your audience gets a product they love , the company makes more sales , and you get a slice of the price .
Let ’ s look at a more definite description . Affiliate marketing is a type of advertising in which a business pays third-party publishers , salespeople , or marketers to bring traffic , leads , and sales to its goods and services . The third-party marketers are affiliates , and the commission fee incentivizes them to find ways to promote the company . In short , affiliate marketing is a type of marketing in which affiliate partners promote a company ’ s products and
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Affiliate marketing is a type of advertising in which a business pays third-party publishers , salespeople , or marketers to bring traffic , leads , and sales to its goods and services . The third-party marketers are affiliates , and the commission fee incentivizes them to find ways to promote the company . earn commission from everything they sell .
This guide will give you all the information you need about affiliate marketing so that you can join this booming industry in your own unique way .
How Does Affiliate Marketing Work ?
When affiliates sign up to work with an organization , they will receive a link to place on their website or social media page that links back to the page of the organization . When someone clicks on that link , they ’ ll be taken to the organization ’ s site where they ’ ll see a prompt asking them to make a purchase . The organization will pay the affiliate a set amount for every sale that is made through the affiliate ’ s link . The more traffic the affiliate gets , the more money the affiliate is paid . The organization gets exposure from the link on their site and the affiliate gets paid . This is a win-win for everyone involved ! Affiliates are paid for every sale that is made through the link that they ’ ve been given , regardless of where the sale actually comes from .
Key Benefits of Affiliate Marketing
Ok , so why affiliate marketing ? Why not just sell your backyard herbs online ? Or create a course and upload it on YouTube ? Here are reasons you should go for affiliate marketing instead :
• Affiliate Marketing Is Cheap To Set Up - The thing about starting up any business is you need capital , even if you ’ re setting up an online business . For example , it ’ ll take
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