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What Is Affiliate Marketing And Why Should You Care?

Affiliate marketing usually involves a partnership between a business or a brand and an affiliate whose responsibility is to help promote the brand’s products in exchange of a certain commission. It’s an effective strategy that brands usually use to improve their sales.

In this type of marketing, three parties must be involved to make it work:

  1. The seller: Also known as the brand or the product creator who provides a product that could be a physical object or a service. The seller doesn’t need to take an active part in the marketing process.
  2.  The affiliate aka publisher: It can be an individual or a company that promotes the brand’s products to potential consumers and earns a commission from each sale they make.
  3. The consumer: he’s the main focus of affiliate marketing as the affiliates share the products with him on social media platforms and blogs. When the consumers purchase the product, the seller and the affiliate share the profits.
  4. Affiliate Marketing Channel: there are multiple marketing channels that affiliates use to advertise the products such as influencers who are usually popular on Instagram and hold the power to impact the purchasing decisions of their followers and bloggers who sample and review products on their blogs.

Why is affiliate marketing important?

  1. Great investment:
    Any “regular” job requires you to be actually at work to make money, on the other hand affiliate marketing gives you the ability to make money while you sleep. By investing your time into a campaign, you’ll be earning a steady income as the consumers purchase the product over time.
  2. Flexible and convenient:
    As affiliate marketer is mainly a freelancer, you get the absolute freedom to choose your path and the products that interest you and even to choose your own work hours. You can also choose to work from your home.
  3. Cost-effective:
    Affiliate marketing can be conducted at a low cost which means you can start quickly without much hassle or financial requirements like startup fees or a budget to hire an advertising team.
  4. Salary based on performance:
    You can work 9 hours per day and still earn the same salary while with affiliate marketing your salary purely depends on your performance which means you get paid for your exceptional work and skills.
  5. Low risk:
    Since payments are only made when there’s a purchase, there’s a little risk which is perfect for start-ups and business on tight budget.

Affiliate marketing is quickly becoming the main aspect of multiple marketing strategy and as the market continues to grow, affiliate marketing is more likely to be used in more organizations in the future.

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