Affiliate marketing is a concept that allows you to make money anywhere at any time. According to Influencer Marketing Hub, this has become a $1billion industry. But what exactly is affiliate marketing and how does it actually work?
Affiliate marketing is a marketing arrangement by which a company pays third-party promoters for promoting their products/services in exchange for generating sales. Most companies set requirements as to who can promote and sell their products/services. People who meet these requirements can then apply to participate in the program. Those selected are provided with a unique website link or code, so the company can track the precise number of sales that the person generated. Compensation is based on this number and is usually a percentage of sales or a flat fee per sale. Payment can be on a weekly or monthly basis.
As a small business owner, you should consider affiliate marketing. Not only will it add another stream of revenue, but it will allow you to share products/services you believe in. It also allows for flexibility in the amount of time and effort you want to put into affiliate programs and promoting the products/services. You may want to especially consider joining an affiliate marketing program if you are already sharing with your audience these products or services. You are already promoting them, you might as well be generating revenue.
Who exactly is offering affiliate marketing programs? There are many companies that offer these programs. Two big company names that offer these programs include Amazon and Canva.
QR codes and their simplicity helps with the likelihood of customers interacting with your content. Whether you decide to use a free QR code generator or a paid one, it is still a step in the right direction to utilize them in your marketing strategy.
For an in-depth view of affiliate marketing programs from the participant, check out the video below. We will show you the back end of a program, and how the system works.
Did you find this content useful? Feel free to share your thoughts with me, I can be reached at vivian@theseasonedmarketer.com or just leave me a comment below!
Recent Comments