Affiliate Marketing is described as a system in which a Company pays an Affiliate a commission for every Buyer that they refer to the Company’s website and makes a purchase. There are numerous marketing strategies, but at their core, they involve using a special affiliate link like this one Amazon Office Furniture (go ahead and check it out, it opens in a new tab) to send visitors to the company’s website in hopes that they will buy something, and if they do, the affiliate is rewarded with a flat fee or a percentage of their purchase.
Affiliate Marketing is a great system that allows companies the ability to take advantage of a whole network of motivated advertisers, and they only have to pay for referrals that lead to actual sales. A study in 2016 by Rakuten Marketing found that 90 percent of advertisers said that affiliate programs were important or very important to their overall marketing strategy. Additionally, they found that affiliate marketing drove more than 20 percent of their annual revenue. The study estimates that the affiliate marketing advertising spending will increase by an average rate of 10% through 2020.
You can find more about the report here if you are interested.
Everyone has their own reasons for becoming an affiliate marketer, but the main reason is to have an additional source of revenue that can be earned online when you can fit it into your life. Most work associated with affiliate marketing is not time sensitive, and therefore offers an enormous amount of flexibility in terms of when and where you get your work done. If you are looking for a flexible way to work online, then affiliate marketing is for you.
We have created a step-by-step guide to walk you through the process of becoming an affiliate marketer. Although our list is rather comprehensive, there are still some technical subjects that you will need to do some research on, but we will do our best to help point you in the right directions.
The first thing you will need to decide is what your Outlet will be. There are pros and cons to different outlet types individually. The best practice is to incorporate each of the major outlets, but each outlet type will require additional time (and usually a little bit of money) in order to get up and running. For long term models, each outlet type serves a unique purpose and works in conjunction with your other outlets to create a full enterprise.
Here is a quick summary of the different larger outlet types:
For now, let’s select an Outlet Type you would like to learn more about (don’t worry you will have an opportunity to look at each of them)
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