What is an Affiliate Marketing Program?By Vilampara on
There are about a thousand vendors and more than a million consumers in the world. How well a product is marketed determines if it is going to sell. The marketing scene has drastically changed over the years. In the last decade, digital marketing has wholly taken over. One extension or improvisation on it is affiliate marketing.
When a third person recommends something, we are a lot more interested in buying it. This strategy is used in affiliate marketing too. It had been around for a long time now and most of the brands today endorse in affiliate marketing. Affiliate marketing is a process in which you earn commission by promoting another person’s company. In doing so, you get a commission for each sale.
Four different parties are a part of affiliate marketing. All the parties are involved in the sale of a product and based on their contribution, each is rewarded accordingly. Each party plays a vital role in affiliate marketing.
This is the creator of the product. It is also referred to as the brand, retailer, or vendor. This is the party that creates the products. It can even be a big multinational or single individual. Bottom line is, it can be any party that has a product to sell.
This is the party that enables the sale. The affiliates are also known as the publishers. It can again be a single individual or company. They are known to handle many brands and do their business by earning commissions every year. They promote the products sold by the sellers and attract more customers. The affiliates are the ones responsible for recognizing the value of the product.
The affiliate is someone with influence and connections. This party has access and the power to make or break a product. This is the creative party that is capable of producing an impact.
A simple example would be reviewing the product or blog of the seller.
This is the essential end of the strategy that completes the cycle. The sales and commissions are met only when the consumer makes a purchase. The affiliate aims their marketing strategies towards the customer. This is done through social networks, content marketing, or digital billboards. Sometimes, the customers don’t even know that they are a part of affiliate marketing.
This is not always a part of affiliate marketing. The network is what connects the affiliate to the merchant. Some affiliates use private networks to promote their products. This network also serves as a database for a lot of products.
The merchant can track if the sale happened through the affiliate by verifying the link. The commission is decided between the two parties well in advance.
Affiliate marketing is adopted by several companies today. These positive results show that this is a valid platform for selling products to customers.