by Flair Interactive Services
Affiliate Marketing has been hailed as the most reliable and profitable way to make money online. Here, we will discuss what affiliate marketing is, what makes it special and whether it is only for beginners.
What is Affiliate Marketing?
It is a marketing plan based on performance wherein you advertise for your affiliates on your site and your affiliates advertise for you. When a lead travels from your site to that of one of your affiliates and makes a purchase, you receive a commission on that sale. Generally speaking, it is about adding your advertising efforts to the outreach campaign of your affiliates and getting the same in return.
What makes it attractive is, no matter how small or large an affiliate is, they can only add to the strength of your network. Add a small partner to your list of affiliates and get a trickle of sales from their business. Or- if you are so fortunate- add a large, wealthy affiliate to your roster and enjoy regular sales from them.
What Makes Affiliate Marketing Unique?
As we mentioned above, affiliate marketing is a no-cost partnership where you host ads for your affiliates and any customers they gain from your ad hosting gives you passive income. Because there is no cost to those who choose to become your affiliates, there is very little barrier to entry. All it takes is a website with a small amount of traffic to make you an affiliate worth having.
The more you broaden your list of affiliates, the more potential customers you may receive- and the more passive income you may earn.
By being an affiliate, you potentially can;
Earn passive income: Every sale that results from your being an affiliate brings you automatic commissions. Just sit back and let the cash roll in.
Never provide customer support (on your affiliate sales): You do not have to do customer support on sales that result from your affiliate ads- that is the job of your affiliate merchant. (You still have to support your own customers.)
Work from home: Assuming your business is online, affiliate marketing costs you nothing and will not force you to rent an office outside your home. That means you’re effectively expanding your business with no additional overhead.
Make your own hours: As stated, affiliate marketing is passive income. You might find yourself working in your pajamas even more than before.
Why Serious Marketers May or May Not Use Affiliate Marketing
Affiliate marketing is a powerful way to expand your brand exposure and make easy money on the side. That extra income will be an excellent source of capital for you to grow your own business. So, on one hand- affiliate marketing is a great thing for novice marketers.
It enables you to mitigate some of the roadblocks associated with limited experience and limited brand exposure. In short, affiliate marketing is definitely for beginners- but not exclusively.
Depending on your business model, once you become a titan in your industry, affiliate marketing may be more or less profitable than your own continued marketing efforts. In other words, some major brands use it and some do not.
You might look at businesses that are similar to yours, which have become large and influential. If they still use affiliate marketing, then you may as well later on.
In conclusion, affiliate marketing is for beginners. It is also for veteran marketers if their business model and industry are a good fit for this type of advertising.
To learn more about affiliate marketing, and whether or not it is a good fit for your business, get in touch with the marketing professionals at Flair Interactive Services today.