Success
If you’re looking to make some extra money on the side, or even turn your side hustle into a full-time business, then affiliate marketing could be for you. But what is affiliate marketing? And how do you get started?
In this article, we’ll answer those questions and more, so that by the end, you’ll have a good understanding of what affiliate marketing is and whether it could be a good fit for you.
What is affiliate marketing?
Affiliate marketing is a type of performance-based marketing in which a business rewards an affiliate for each successful sale that they generate. The sale can be made through a variety of channels, such as a blog post, social media post, or email campaign.
Generally speaking, affiliates are paid either a commission on the sale (a percentage of the total purchase price), or a flat fee (a set amount regardless of the purchase price). Sometimes, affiliates can also earn rewards for other actions, such as generating leads or driving traffic to the merchant’s website.
How does affiliate marketing work?
Affiliate marketing works by connecting businesses with affiliates who are willing to promote their products or services. The affiliate then uses their platform – be it a blog, social media account, or email list – to drive traffic to the merchant’s website. If someone clicks on the affiliate’s link and makes a purchase, the affiliate earns a commission (or flat fee).
It’s important to note that businesses only pay affiliates for sales that they generate – they’re not generally on the hook for any advertising costs incurred by the affiliates. This makes affiliate marketing an attractive option for businesses, as it’s a relatively low-risk way to acquire new customers.
Who can be an affiliate?
Almost anyone with an online platform – such as a blog, social media following, or email list – can be an affiliate. However, it’s worth noting that not all platforms are equally effective at driving sales. For example, an Instagram account with 10,000 followers is likely to generate more sales than a Twitter account with 100 followers. The size of your platform is not the only factor that determines your success as an affiliate – engagement levels (how active and engaged your followers are) also play a role. However, all things being equal, a larger platform will generally result in more sales.
