In: Economics
Affiliate marketing is when you promote other companies’ products. When someone buys through your affiliate link, you get a commission.As an affiliate, you’re a salesperson for the company. You help to make a sale, the company rewards you.
The best thing about affiliate marketing is that you can do it at scale. A typical salesperson only sells products from one company. Therefore, there is no restriction on market to target for an affiliate marketer.
As an affiliate marketer, you can promote products from many different companies and earn commissions from all of them.
Affiliate marketing involves referring a product or service by sharing it on a blog, social media platforms, or website. The affiliate earns a commission each time someone makes a purchase through the unique link associated with their recommendation.
Affiliate marketing is low risk. Since there’s no cost to join affiliate programs, you can start making money with an established affiliate product or service without any upfront investment
Affiliate Marketing is more convenient and flexible because it allows marketers to do their jobs form the home, so they can decide their working hours according to their convenience.
Affiliate Marketing is flexible because it offers the following 3 types of rewards -
Pay-per-sale - It means you have to pay a percentage of the sale price to the affiliate marketer who convinces customers to purchase the product via affiliate marketing.
Pay-per-click - It is a commission that is based on the number of users an affiliate marketer directs to the organization's website.
Pay-per-lead - It assigned to affiliate marketers when any visitors fill his/her personal information on our site using the contact form.