What is Affiliate Marketing?
Affiliate marketing is based on revenue sharing, meaning that affiliates are not just an advertiser’s partner but also their customer. As an affiliate, you benefit from the success of the products you promote. For example, if you were promoting a camera, and someone purchased it through your link, you would receive a commission for the sale. The more products you refer to your audience members, the more money you can make!
Affiliate marketing is a type of performance-based advertising in which an online merchant rewards one or more affiliates for each visitor or customer brought by the affiliate’s own marketing efforts. Performance-based advertising revenues are earned over time, as opposed to traditional affiliate programs that pay a set fee irrespective of whether or not the referred visitor buys something.
Affiliate Marketing in India
Currently, affiliate marketing in the Indian market is witnessing quite a progress and growth. It is one of the easiest techniques for network marketing. A wide range of companies in the Indian market is utilizing affiliate marketing as one of the effective marketing strategies. The top companies in the Indian market that use affiliate marketing are Flipkart Affiliate, Reseller Club, Amazon Associates, BigRock Affiliate, vCommission, DGM India, Admitad, HostGator Affiliate, Yatra Affiliate, Optimise, Cuelinks, Rakuten Marketing, CJ Affiliate, Shopify Affiliate, and Sovrn Commerce. All these companies in the Indian market use affiliate marketing the most to promote their product to the targeted audiences. In order to implement this marketing strategy, companies have developed a special team only for promoting products through affiliate marketing. This way affiliate marketing is turning into a great career option for a number of people. And it is growing rapidly in the Indian market.
One of the biggest examples of affiliate marketing is Amazon Associates. Amazon Associate Program is a special team of the company that helps content creators, bloggers and publishers monetize the traffic. Amazon provides a wide range of programs and products, and the main job of the affiliate associates is to use effective link-building tools to direct the target audience to the recommendations. This way affiliate marketers would be able to earn from qualifying programs and purchases.
“Amazon Affiliates has been a critical driver of our commerce initiatives and has enabled BuzzFeed to build a business that first and foremost services our audience.” – BuzzFeed
“The Associate’s Program has given us all of the tools and data that we need to quickly make content decisions and continually grow our earnings.” – Domino
In the present market, Amazon Associates is the largest affiliate marketing platform. The main concept of this program is that an affiliate marketer can share available programs and products on Amazon with the target audience through personalized linking tools. By doing this they will be able to earn cash on customer actions and qualifying purchases like purchasing a product by using the link or signing up for a free trial program. The basic qualification for this is not much. In order to become a part of the Amazon Associates Program, an individual only need to have qualification as a content creator, publisher, or blogger. Any person who has these qualifications can join this program quite easily, just by going to the official site of the company where options have been provided for joining.
Advantages of Affiliate Marketing
Now it is great to way earn some extra money, but it is also quite beneficial for the companies who are paying for doing the job. A wide number of successful multinational companies are investing in this program because it provides various advantages to the business. The main benefits of affiliate marketing are that it does not cost much to start up and the maintenance cost is also not that much. Within a limited budget, a company will be able to promote its products and services to the target market. Additionally, the flexibility of the marketing process is also quite convenient. No need to go door to door or put any extra effort to convince people. All need to do is to share the links as an advertisement where the products will be shown and customers can also purchase from there. Along with this, affiliate marketing also provides a good ROI rate. For instance, the Amazon Associates program take a certain amount of commission on the sale of certain products; such as 10% on luxury beauty, 5% on music and videos, 4.5% on books, kitchen and automotive, 2.5% on PC, DVD, and blue-ray, 2% on digital video games and television, 1% on Physical Video Games, Amazon Fresh, Game Consoles, and Grocery, Personal Care. However, the company will only get these commissions if any product would be purchased by a consumer.
Affiliate Marketing Strategies
Select target market wisely – Affiliate marketing only works properly when you are promoting products to the right consumers who will purchase them. Therefore, in this marketing, it is important to select your target market quite efficiently, or else it can be a huge drawback of the strategy.
Find innovative techniques to reach an audience – With advanced technology and an internet connection, every individual these days are quite updated on new trends in the market. They know what is new and old. Therefore, using the same old tricks for promoting can have a negative impact. You need new and innovative ways.
Create quality content – Content development now has become one of the most common ways of marketing. Evert organizations, starting from small to large, everyone uses it. Therefore, to differentiate your products from others, it is important to include creativity and innovativeness.
Build connection – Affiliate marketing is all about networking. The more network you have, the more promotion you will be able to do. Hence, developing a good and powerful connection in affiliate marketing is quite significant. Finding the right community to recommend products and for promotion is crucial for this marketing strategy.
Read More: Network Marketing – Know All About It