Affiliate marketing is the process by which an affiliate earns a commission for marketing another person’s or company’s products. The affiliate simply searches for a product they enjoy, then promotes that product and earns a piece of the profit from each sale they make. The sales are tracked via affiliate links from one website to another.
You can work with individual companies or affiliate networks, where you register and choose the programs that interest you. The programs are generally divided into categories to make selection easier. Once approved, start promoting your affiliate links on your website, in newsletters, on social media, and anywhere else you’re permitted to share links.
The network sends you a payment when you have reached the minimum payment level. Payment methods vary, and usually include PayPal or bank transfers.
Extremely beneficial to both brands and affiliate marketers, the new push towards less traditional marketing tactics has paid off. In fact:
• 81% of brands and 84% of publishers leverage the power of affiliate marketing, a statistic that will continue to increase as affiliate marketing spends increase every year across the world.
• There is a 10.1% increase in affiliate marketing spending across the world each year, meaning that by 2022, that number will cross $7.5 billion.
• UIn 2021, content marketing costs were gauged to be 62% of traditional marketing schemes while simultaneously generating three times the leads of traditional methods. In fact, 16% of all orders made online could be attributed to the impact of affiliate marketing.