Affiliate marketing is a defined process whereby some promoters earn a certain commission by advertising or promoting a service or product owned by a particular company.
The affiliate partner is then rewarded financially for providing a sale. The typical result is a sale, but many programs might reward you for free trial users, clicks on a website, or getting more downloads for a new old App.
Most affiliate programs offer free membership with no high startup cost. If you follow the right instructions from a mentor, you can quickly go from side hustle to a profitable business.
How Does Affiliate Marketing Work
Affiliate marketing is all about referral. It might be a product or service that will be shared on all social media platforms, websites, blogs, and podcasts. The person in charge of this sharing is called an affiliate.
The affiliate earns a certain commission every time a purchase is made through a unique link that is associated with their proposition. A breakdown of how it works;
- An affiliate uploads a link or an Ad for any store on their blog, website, or social media platforms.
- A prospective buyer will see the ads/links and then go ahead to click on them.
- If the buyer likes what he/she sees, go ahead to make a purchase.
- The affiliate network then documents the transactions made.
- The store will confirm the purchase.
- The affiliate then gets paid a monetary commission.
The commission percentage varies depending on the store/company. You can earn about 5% on the low end, and can still earn as much as 50% when promoting a product or event.
There are affiliate programs that provide flat rates instead of percentages.
Types Of Affiliate Programs
There is a bit of a mystery eye when it comes to affiliate programs. Most times you doubt if they are just promoting the product or if the affiliate has used the product.
Understanding the types of affiliate marketing will help position you on a safe path in the affiliate marketing world.
1) Related Affiliate: This type of affiliate marketing is where you advertise different products and services you don’t use but are related to your niche. All the affiliates in this case usually have an audience, maybe through TikTok, blogging, and other channels.
They are mostly influencers; they can promote or recommend products and services they have never used before.
One of the disadvantages of this affiliate type is that those products you refuse to try out could be the worst product or services out there, and besides one bad product recommendation from you might cause you to lose your audience’s trust.
2) Involved Affiliate: This type involves recommending used products and services you truly believe in. It is deeply rooted in authenticity and trust. You can use your influence to advertise products and services people need.
This type of affiliate marketing takes more time and credibility to grow an audience. This is the most preferred type of affiliate marketing because it is a genuine and honest way to propel sales for any business.
3) Unattached Affiliate: Just as its name implies, there is no form of connection between you and the potential customer. One of its pros is that it is attractive and doesn’t require any legwork.
Most people that don’t have the time to build any relationship take this as their favorite option.
On A Final Note;
This Affiliate Marketing Blueprint at clickmagick, our attribution and tracking option will help you to optimize your sales funnel and ads that are based on your results.
We work with all social media platforms you can think of. With our True tracking, you can see all your actionable stats, results, and KPIs.