Affiliate marketing is a performance-based marketing strategy where a business rewards individuals or other businesses (affiliates) for generating traffic or sales through the affiliate’s marketing efforts. The affiliates promote the products or services of the business and earn a commission for each sale, lead, or action generated through their unique affiliate links.
HOW AFFILIATE MARKETING WORKS:
Merchant (Advertiser): The business that sells the product or service.
Affiliate (Publisher): The person or entity promoting the product.
Consumer: The end-user who makes the purchase or completes the desired action.
Affiliate Network: Sometimes, a third-party network connects merchants and affiliates, managing tracking, reporting, and payments.
ADVANTAGES OF AFFILIATE MARKETING :
Low Startup Costs:
Affiliates can start with minimal investment since they don’t need to create products or manage inventory.
Passive Income Potential:
Once content is created and promoted, affiliates can earn commissions over time without much ongoing work.
Performance-Based Income:
Affiliates are paid based on the results they deliver, such as sales or leads.
Scalability:
Affiliates can promote multiple products across various niches, increasing income potential.
No Customer Support Needed:
The merchant handles all customer service, product fulfillment, and returns.
Flexibility: Affiliates can work from anywhere and choose the products they wish to promote, making it a flexible business model.
Global Reach: With the internet, affiliates can promote products to a global audience, broadening their earning potential