Affiliate Marketing: An Overview
In today’s busy society, many businesses are quickly developing and arising day by day. So many questions come to mind when people talk about Affiliate Marketing and how it affects business in our society. What is An Affiliate Marketing? It is important to be aware of this form of marketing, so we can keep up our fast-growing economy and earn money without investing our own. This form of marketing is directed to people who enjoy promoting other products to earn money.
What is Affiliate Marketing?
This is a type of marketing that promotes other companies’ product and thus earning from it via commissions. It is performance based marketing because a person can earn money by their efforts and performance in promoting the company. it involves 4 parties to completely function, these are:
- The Merchant
The merchant is the creator of the product. The merchant may be in the form known as The Seller, The creator, The Brand, The retailer. It can be an individual or a company as long as they have a product for them to sell.
- The Affiliate
The Affiliates main function is to promote the products and convince the clients or customer about the value of the products the merchant sells. The affiliate is known also as a publisher and can be an individual or a company.
- The Consumer
The consumer is also known as the client or the customer. They are responsible for the sales and thus making the affiliate system become a cycle. The consumer is the main target of the affiliate as it is the one that buys the product once they are convinced about the value of the product from the affiliate.
- The Network
The network’s function is to be a transition between the affiliate and its consumer. By letting the network handle payment and delivery of the product. It makes the transaction between the affiliate and consumer more legal and serious. The network also helps the affiliates reach out to their consumers by promoting their product to websites and thus gaining more clients and customers.
In conclusion, This form of marketing is a modern way of earning money. It requires basic knowledge of the product, hard work, and trust between other companies. This type of Marketing can be done in many ways once it has been mastered. The wonderful thing about this is that you only need a platform to sell other product and thus earn.