How To Boost Revenue And Business Growth With Affiliate Marketing
One aspect of marketing that is often overlooked by advertisers and business owners alike is affiliate marketing. Interestingly, this age-old process of advertisement has been very much effective at helping marketers find a product, promoting it among other and at the same time, earning profit from the sales they make.
At its very heart, affiliating marketing involves the process of product creation and its marketing related information across a broader spectrum by online marketers. It is, no doubt, an efficient channel for boosting revenue and business growth. Aside from the revenue that comes in, the publicity the business gets is also a plus.
What is Affiliate Marketing?
Affiliate marketing is a kind of marketing based performance in which one or more affiliates are rewarded by a business for every customer or visitor brought in through their effort. Four major players are usually involved during this process including the customer, the affiliate (also known as ‘the publisher’), the network (this is a system that is responsible for the payments and presents offers or products for affiliates to choose from), and the merchant (also known as ‘brand or retailer’).
While helping to bring about the development of a secondary tier of contributors, the market has grown in complexity including specialized third-party vendors, super-affiliates, and management agencies. To a certain extent, Affiliate marketing corresponds with other internet marketing methods.
This is because regular advertising methods are often employed by affiliates to market their brands including content marketing, e-mail marketing, paid search engine marketing (Pay per Click – PPC) and organic search engine optimization (SEO) as well as display advertising.
However, other less orthodox techniques such as publishing services offered by a partner or reviews of products are sometimes used by these affiliates. Referral marketing is commonly mistaken for Affiliate marketing because they both use third parties to drive sales to the retailer. Nevertheless, these are both two different aspect of online marketing that are well distinct from each other. While referral marketing depends mainly on personal relationships and trust to drive sales, affiliate marketing depends solely on financial motivations aimed at driving sales.
A Reliable Marketing Channel
Unlike website syndication, e-mail, and search engines that attract much of the attention of online retailers, Affiliate marketing is known to carry a much lower profile, as a result, it is frequently overlooked by advertisers. Nevertheless, affiliates still continue to play a major role in the marketing strategies employed by e-retailers.
Even as an old form of marketing, Affiliate marketing still remains one of the cheapest and quickest ways of making money online and boosting a business. Here, affiliates are not required to make any product, all they are required to do is to simply connect a buyer to a seller and make commissions from the sales made.