According to Statista, business spending on affiliate marketing in the US will reach $8.2 billion by 2022. One of the reasons affiliate programs are so popular is that they offer a win-win situation for both merchant and affiliate.
Affiliate marketing is a type of performance-based marketing where companies reward an individual or a company for sending customers their way. It is a sales strategy that any business can use to scale. So to speak a microcosm of marketing channels and methods, from search, to social, to price comparison, email, content, remarketing, and anything that goes in between, all refined to deliver meaningful results for any given business.
With a cost-per-sale business model, affiliate marketing is the most cost-effective and risk-free marketing channel and one of the simpler income streams to set up and automate.
Affiliate marketing works by distributing the responsibilities for product marketing and creation among several parties. This manages to harness the skills of a variety of people for a more effective marketing strategy while giving contributors a share of the profits. Our free guide will explain how affiliate marketing works and how you can use it to boost your business.
The consumer does not always have to buy a product, for the affiliate to get a share. The affiliate’s contribution will mostly depend on the affiliate program.
You can either join an individual affiliate program or join a network. Affiliate Networks act as a middleman between companies and their affiliates. They support you with different matters, such as managing relationships and providing third-party checks and balances.
At Tradedoubler, we are aware of the tremendous benefits of affiliate networks. However, we do know that small businesses might not have the necessary resources to spend on affiliate networks. That is where we recommend Grow, our smart affiliate network for small businesses. The core principle of Grow is to adapt Tradedoubler’s technology and experience in affiliate marketing to the needs of small businesses: simplicity, flexibility, automation.
When starting as an affiliate marketer, start promoting products or services that you resonate with, have some level of passion for or expertise about. Affiliate marketing is not necessarily about promoting a lot of products. If you focus on your niche, you can promote a few excellent products and become a key spokesperson for the said niche
Once the above steps are taken, it is time to start promoting the products. If you want your affiliate marketing relationships to pay off, you should consider creative ways to promote your affiliate links that also provide value to your readers. In our article, we introduce you to five creative ways to promote products.
It is that easy.
Any questions left? Click here to reach out to our Grow team of experts.
Affiliate marketing is simple in concept. It is relatively uncomplicated to generate income online and is easy to get started.Read more
Discover everything you need to know about affiliate marketing.Read more
These numbers and trends demonstrate that affiliate marketing will continue to prosper in the 2020s and beyond.Read more