Affiliate marketing in numbers: What is it?
By Venkata Prasad Palakiti - Dec 18th 2018, 11:37
Affiliate marketing is a great way to connect with other companies and brands to establish a mutually beneficial relationship. It's a great way to monetize your website and earn a few extra bucks easily. Affiliate marketing uses website traffic from one website to generate clicks and sales for the affiliate brand. The site who posts the affiliate link will then get a percentage of the income generated from those clicks and sales.
It's become a very successful industry, with affiliate marketing raking in over a whopping $12 billion. But what is it, and why exactly is it such a popular form of marketing?
What Is Affiliate Marketing
Let's begin by explaining what affiliate marketing actually is. It is a newer method of digital marketing that has become very popular over the years and is shown to have great results. So let's explain it in simple terms.
Say you have a blog site. You blog about books, for example, and you have a substantial following or regular readers. With affiliate marketing, a brand can reach out to you, or you to them, and offer to place an affiliate link to their website on your blog. This would work well, for example, with an online book retailer. You can place their link on your website to direct your web traffic towards them. When your audience uses that link to buy from the affiliate brand, you get a percentage of that sale.
You get the picture. You form a mutually beneficial relationship with a brand who has relevance to your website. On the flip side, if you are a brand looking to boost sales, going with a website that relates to what you sell will generate traffic and sales from people who are interested in what you're selling.
Does it work? Is it only for Big Business?
Figures show that affiliate marketing is a very popular format and does actually work. In fact, 16% of all online sales are made via an affiliate link. US spending alone on affiliate marketing is set to reach $6.8 billion by 2020, so it isn't going away any time soon.
But what about if you're a smaller business trying to use affiliate marketing? Is it a waste of time if you aren't a big business? Of course not, any small and medium-sized enterprise (SME) can get started with affiliate marketing, but it is a numbers game after all.
Smaller businesses may need to do more work at the start to get it off the ground. It's a great way to boost web traffic and generate sales from your website. You can track the progress of your affiliate links, see how well they are doing, and increase the amount of content you write to boost SEO.
Some Good Examples of Affiliate Marketing
The best way to see how good affiliate marketing works is to give some examples. One of which is the online casino comparison website Bonus.ca, which can help to find the best bonuses and deals for casino sites. Essentially, they offer their audience the best casino deals and supply an affiliate link to those with the best current deals to choose from.
Another one similar to this is Clickbank, an e-commerce affiliate site that collates the best deals for a huge range of products, both online and offline. It makes it easy for people like bloggers to find an affiliate for something that relates to their brand which their audience would actually use.
Another very popular affiliate marketing program is the Amazon Affiliates Program. It's especially useful for smaller businesses as you can sign up to it easily and drop the affiliate link to Amazon on your website. It's used by big and small businesses across the internet and has proven to be popular for many years.
Big business may find it easier to use affiliate marketing, but with hard work and determination, it can be brilliant for SMEs too. It's proven to be a very successful and lucrative form of marketing that benefits all of those involved. Is it time for you to start using affiliate marketing?
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