The concept of affiliate marketing has been around for a long time, but interest does not stop and so affiliate marketing rose to prominence. According to 99 firms, 81% of marketers and 84% of publishers leverage the power of affiliate marketing already. And the interest does not stop there. Based on Google Trend data, the search interest in the query “affiliate marketing” has increased up over 200% between 2015 and 2020. According to Statista, business spending on affiliate marketing will hit $8.2 billion in the U.S by 2022.
Basically, affiliate marketing is a partnership between a brand (the advertiser) and an affiliate. Due to its performance-based approach, affiliate marketing is a lucrative marketing stream and beneficial for both brands and affiliates, as it pushes the boundaries of traditional marketing, offering a new, convenient, and cost-effective route. To discover more about affiliate marketing and how you can get started read our guide.
Affiliate marketing works by distributing the responsibilities for product marketing and creation among several parties.
The publisher will promote a brand’s products or services on their site.
Consumers are the drivers of affiliate marketing. Affiliates promote products and services, convincing consumers to buy a product through their link. Once they have bought the product, the seller and the affiliate share the profits.
The Advertiser can be a solo entrepreneur or large enterprise, a retailer or someone else. The advertiser wants to promote his product to the market.
An affiliate network acts as an intermediary between the merchants and their affiliates. They manage relationships, provide third-party checks, and pay commissions to the affiliate (based on the rules set by the brand).
The affiliate’s contribution will mostly depend on the affiliate program. The three major types are PPS, PPL and PPC.
You can either choose a program or network to join. If you are unsure about what fits your business best, our guide will be able to help you answer the most important questions. Feel free to reach out to our team of experts for more information on how to get started with Grow.
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