What is Affiliate Marketing? and How does it work?
Affiliate Marketing is one of the biggest online industry happening right now. It is the easiest way of doing Online business as you don’t have to create your product to ship or to deliver to clients. The company that you are affiliated with, will take care of producing products and do the shipment to the customer that you refer to buy in the company. One of the advantages of doing this is that you get to chance to just work at home and no need to have your own office as your home is your office. It is the easiest way and most convenient thing to do when you want to start your own online business. No initial capital is needed and no need for any crazy setup at home, all you need are just basic items, a laptop, and an internet.
Now, let’s talk about how Affiliate Marketing Works. Below are the basic knowledge and step-by-step guides to fully understand how affiliate marketing works:
Promoting
First, an Affiliate promotes a product or service on its website. There are several ways to attract different kinds of leads, one of these is writing a review about a product that you are promoting. Most of the affiliate has already used the product or service that they are trying to promote. So before you promote any product or service, you make sure that you have tried what you are promoting, to give an honest review about it. One way of promoting a product as well is by making a video holding the product that you are trying to promote. That way your potential leads can see how does your product looks like and see if it is a good product.
Click and Convert
When you attracted your potential leads, the next step is getting them to click and convert. Most of the time, Leads do click the site that you are trying to promote. But keep in mind that not all of them are going to convert, some of them just wanted to check the product itself on how much the worth is and to see if they have the budget to buy it on the spot. Usually, depending on how the affiliate promotes the product, the conversion rate of leads is higher and sometimes, the conversion rate depends on luck as well.
Conversions
This is Everyone’s favorite part. When you convert some of the leads that Opt-in to your affiliate link. This is where you can find how much the sales that you have made. Affiliates usually have a personal account to login with the company that they are affiliated with, where they can track down all the sales that they have made. They can also track their records on how many many people opt-in on their sales page and how much are the percentage of the conversion rates based on the opt-ins.
Pay-Outs
Yes! the day has come, the payment time! the time that you get your total commissions for all the effort you have done. Company pays out commissions usually on a bi-weekly basis so that it is not going to be a long wait for their affiliates. Affiliates are important assets for the companies, that’s why they do their best to take good care of them and pay their commissions on time so these affiliates won’t leave.
Summary
The way Affiliate Marketing works looks easy at first glance. But it takes time and hard work to do it. Some people give up affiliate marketing because they can’t make any sales online. But with the proper mindset and proper marketing strategies, you can for sure make your sales online.
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