If you are working in Digital Marketing field or just learning about it, you must’ve heard the term “Affiliate Marketing.”
An affiliate according to google’s dictionary is “a person or organization officially attached to a larger body.”
With that definition in mind, affiliate marketing is a kind of marketing activity where you pay someone (typically as a percentage of sale) for assisting a sale or generating a lead. Typically, this is achieved by a link either in the form of a banner or a text link. If the traffic converts to a lead or a sale. The affiliate earns an amount as agreed upon before.
Affiliate marketing is done typically with websites which engage audience who are also your target audience. As such, the affiliate could be a seller selling complementary products or a blogger who writes on products related to you etc.,
Types of Affiliate Marketing:
Depending on the affiliate you choose, Affiliate Marketing can be classified in to 3 major types. The types of Affiliate Marketing are:
Unattached Affiliate Marketing: In this case, the affiliate you are engaged with doesn’t have any presence or authority in the domain your business deals. You just display your banner ads or text links on various sites and based on the conversion, pay the affiliate. Technically, even though this comes under affiliate marketing because it is sale based, payment based on a conversion is also available on ad platforms such as AdWords. This is also called PPC (Pay Per Click) Affiliate Marketing.
Related Affiliate Marketing: in this type of affiliate marketing, the affiliate you are engaged with has a presence, and a certain degree of authority in your domain. The presence may be either in the form of a blog or a podcast etc. the affiliate would also be a seller offering complementary products etc.,
Involved Affiliate Marketing: in this type, the affiliate is not just passively hosting your banner ads or text ads. He’s either used your product and actively endorses it through positive reviews or creating content around your product or service that would turn his audience towards your product. The actual purpose of the affiliate’s website is irrelevant. Most effective affiliate marketing is an overlap between Related and Involved Affiliate Marketing.
If you want to go for affiliate marketing there are different ways you can find affiliate partners. Traditionally you would’ve had to contact the individual website owners to do it but there are lots of affiliate networks and third party vendors who would do this for you now.
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