Affiliate Marketing in 2020: What It Is and How You Can Get Started
Written By :- Pankaj Rai, Marketing Manager
What Is Affiliate Marketing?
Affiliate marketing is the process by which an affiliate earns a commission for marketing another person’s or company’s products. The affiliate simply searches for a product they enjoy, then promotes that product and earns a piece of the profit from each sale they make. The sales are tracked via affiliate links from one website to another.
How Does Affiliate Marketing Work?
Seller and product creators.
The affiliate or advertiser.
How Do Affiliate Marketers Get Paid?
Pay per sale.
This is the standard affiliate marketing structure. In this program, the merchant pays the affiliate a percentage of the sale price of the product after the consumer purchases the product as a result of the affiliate’s marketing strategies.
Pay per lead.
A more complex system, it compensates the affiliate based on the conversion of leads. The affiliate must persuade the consumer to visit the merchant’s website and complete the desired action — whether it’s filling out a contact form, signing up for a trial of a product,
Pay per click.
This program focuses on incentivizing the affiliate to redirect consumers from their marketing platform to the merchant’s website. This means the affiliate must engage the consumer to the extent that they will move from the affiliate’s site to the merchant’s site.
Why Be an Affiliate Marketer?
While any “regular” job requires you to be at work to make money, affiliate marketing offers you the ability to make money while you sleep. By investing an initial amount of time into a campaign, you will see continuous returns on that time as consumers purchase the product over the following days and weeks. You receive money for your work long after you’ve finished it.
No customer support.
Individual sellers and companies offering products or services have to deal with their consumers and ensure they are satisfied with what they have purchased.
Work from home.
If you’re someone who hates going to the office, affiliate marketing is the perfect solution. You’ll be able to launch campaigns and receive revenue from the products that sellers create while working from the comfort of your own home.
Most businesses require startup fees as well as a cash flow to finance the products being sold. However, affiliate marketing can be done at a low cost, meaning you can get started quickly and without much hassle.
Convenient and flexible.
Since you’re essentially becoming a freelancer, you get ultimate independence in setting your own goals, redirecting your path when you feel so inclined, choosing the products that interest you, and even determining your own hours.
With other jobs, you could work an 80-hour week and still earn the same salary. Affiliate marketing is purely based on your performance.
Do Not Underestimate the Power of SEO.
There’s a ton of organic traffic you can get from search engines if you do SEO properly. The days when Search Engine Optimization was about cheating Google are gone.
Common Types of Affiliate Marketing Channels
3. Paid search focused microsites.
4. Email lists.
5. Large media websites.
Tips to Help You Become A Successful Affiliate Marketer
1. Develop a rapport.
2. Make it personal.
3. Start reviewing products and services.
4. Use several sources.
5. Choose campaigns with care.
6. Stay current with trends.
What are the Top Affiliate Marketing Trends of 2020?
1. Improved affiliate reporting and attribution.
2. Influencer niches are becoming hyper-targeted.
3. GDPR is changing how personal data is collected.
4. Affiliate marketers are getting smarter.
What Affiliate Marketing Strategies Should You Employ in 2020?
1. Only recommend products you are extremely familiar with.
2. Promote products from many different merchants..
3. Constantly test and optimize your conversion rates.
4. Focus on your affiliate traffic sources.