Earned 4.5 Lakhs Doing Affiliate Marketing:
Affiliate marketing is a performance-based marketing strategy where businesses reward affiliates (partners) for driving traffic or sales to their website through the affiliate's marketing efforts. This form of marketing leverages the power of individuals and companies (affiliates) to promote products or services in exchange for a commission.
Key Components of Affiliate Marketing
Merchant (Advertiser): The business that sells the product or service. They create the affiliate program and offer commissions to affiliates for promoting their products.
Affiliate (Publisher): The individual or company that promotes the merchant’s products or services. Affiliates use various marketing tactics such as blogs, social media, email marketing, or websites to drive traffic to the merchant’s site.
Customer: The end user who makes a purchase or completes a desired action (like signing up for a newsletter) via the affiliate's marketing efforts.
Affiliate Network: Sometimes, a third-party platform that facilitates the affiliate program, providing tracking, reporting, and payment systems. Examples include ShareASale, CJ Affiliate, and Rakuten.
Commission Structure: The predetermined rate or amount paid to affiliates for their marketing efforts. This can be a percentage of the sale, a fixed amount per sale, or payment for leads or clicks.
How Affiliate Marketing Works
Affiliate Joins Program: An affiliate signs up for the merchant’s affiliate program, either directly through the merchant’s website or via an affiliate network.
Promotion: The affiliate receives a unique affiliate link or tracking code to promote the merchant’s products. They use this link in their content, ads, or promotions.
Customer Clicks Link: A customer clicks on the affiliate link and is redirected to the merchant’s website.
Conversion: The customer makes a purchase or completes a desired action on the merchant’s site.
Tracking: The affiliate’s unique link or code tracks the customer’s actions and attributes the conversion to the affiliate.
Commission Payment: The merchant verifies the sale or action and pays the affiliate according to the agreed-upon commission structure.