Have you ever thought of the possibility of making money while you are away on vacation or on your way for a business trip? Yes! Thanks to affiliate marketing it is very possible, very much achievable. Affiliate marketing has created a platform where you can make money online anytime and anywhere just by posting affiliate links of products or services on your blog or website.
You can be traveling and make your cool cash. All you need is to have access to a laptop and be connected to the internet. With these, you can make as much cash as you are ready to “work” for, which depends on your dedication, persistence and hard work. Even while you are away, with the affiliate system, you can be assured you are making cool cash.
What Is Affiliate Marketing?
Affiliate marketing is an internet based marketing concept in which advertisers (companies or individual sellers) pay affiliates (partners or associates) for advertizing their products or websites. Affiliate marketing is, a performance-based online marketing strategy; this means affiliates are paid only when their efforts in promoting the products of advertisers result in an actual sale.
The concept is simple to understand; in layman’s term, affiliate marketing involves an affiliate advertising a product or service on his or her website and getting paid after a transaction is done through his or her link. Posting the affiliate link on your website or blog is not enough to get you paid by the advertiser.
Affiliate marketing is typically based on revenue sharing. You, as the seller, have a product or service and you want to sell more, you can offer online promoters financial benefits through the affiliate programs. If you are not the seller and you want to make money online, you can promote products and services that are valuable and earn from them as an affiliate.
Affiliate marketing system is guided by a sale triangle. Without the completion of this triangle, affiliate marketing is not complete. Let us consider the three basic components of the triangle.
- The Merchant: They are also known as the seller, the creator or the retailer. This party produces the product or service to be advertised. A merchant can be a big company, a production firm or an individual. Anyone can be a merchant so long you have a product or service you want to advertise. They form the base of the affiliate marketing system triangle.
- The Affiliate: They are sometimes called the publisher. Like merchants, affiliates can be a company or an individual. This is where the actual marketing happens. An affiliate promotes a product or service and tries to attract potential buyers to the merchant’s website. Affiliates don’t get paid until the whole transaction is completed.
- The Customer: This party completes the affiliate market system triangle. They are the ones that actually buy the products advertized by the affiliate. When there are no customers to purchase the products being advertised, affiliate marketing is not complete.