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Basic Principles of Affiliate Marketing


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Affiliate marketing is the process by which an affiliate can earn commission by selling another person’s or company’s products. The affiliate simply searches for an excellent product or niche, then promotes the same. The affiliate will earn a piece of profit from each sale that they generated. The said sales are tracked via affiliate links from one website to another. Take note that the commissions are distributed at regular intervals. Remember that there are so many Google and Youtube queries over the world. Currently, over 10 billion combined views and queries are present daily, and affiliate marketers should use these to promote products.

 

 

How Does Affiliate Marketing Work?

This is how affiliate marketing works. By spreading the responsibilities of product marketing and creating across several parties, it leverages the abilities of a variety of individuals for a more effective and diverse marketing strategy while providing contributors with a share of the profit. To help simplify things, think of it this way. There are three different parties involved in affiliate marketing:

  • Seller and product creators.
  • The affiliate or advertiser.
  • The consumer.

Let us discuss further the synergy among these three parties to help ensure that affiliate marketing is a success. 

1. Seller and product creators.

They are usually solo entrepreneurs or a large enterprise. They are the vendors, merchants and visionaries who creators the product itself. The product can be a physical object, like household goods, or they can also offer services like SEO tutorials, or a digital product like an SEO software.

Also known as the brand, the seller does not need to be so active when it comes to marketing. However, they may also be an advertiser and get profit from the revenue regarding affiliate marketing.

For example, the seller or the brand started a Guitar tutorial business and wants to reach a new audience by paying affiliate sites to promote such products or services. Or the brand could be a company that manages to leverage affiliates to help sell their digital software.

2. The affiliate or publisher.

Also known as a publisher, the affiliate can also be an individual or a company. They market the brand’s product in the most appealing way. This is to help attract potential customers. The affiliate promotes the product or service to persuade potential customers to buy the said product. If the consumer ends up buying the product or availing the services, the affiliate receives a commission of the revenue made.

Affiliates often have a very specific audience to whom they market the brand. They usually follow the niche or audience’s interests. With this they create a personal niche or a defined brand, that help the affiliate attract potential customers who will most likely do something on the promotion that they have done.

3. The consumer.

Whether the consumer knows it or not, they are the core of affiliate marketing. Affiliates share and promote the products with them on social media and websites. If the consumers buy a specific product more, then product developers will produce more of what is being consumed.

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Principle 1 – Don’t put all of your eggs in one basket

Principle 2 – Communicate effectively with your affiliates

Principle 3 – Recruit, activate and optimise affiliates all of the time

Principle 4 – Understand the unpredictability of the channel and the influence affiliates have on acquisition

 

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Affiliate marketing is also misinterpreted as easy money. Spoiler alert: it ain't lol. You have to have a good platform that has a relatively large population of people with buyer's intent. If you're just pasting your links and spreading it in a willy-nilly manner, you won't net real value. If you know affiliate marketing, you'd already know that having 2-3 sales is basically nothing... 

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Thanks for this guide, it can be really useful especially for newbies. I would say that it's essential for everyone who is trying their luck in affiliate marketing field to first find their niche and to concentrate on it, it could be more verticals for sure, but still this list should be narrowed down a bit. Then it's necessary ti offer something to the world, make quality site or network where people will want to place their ads or join and become regular members. The biggest mistake is that many people think affiliate marketing is just a method to quickly earn the money, but the truth is far from that, you must put some real effort in order to succeed.

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Principle 1 – Don’t put all of your eggs in one basket

 Diminishing returns – there is only so much traffic that a few affiliates will have; if you keep hitting that same traffic, you will see a progressively lower response. Advertisers can be pressured by large affiliates to increase commissions, but the result is a higher cost for less return. This is not sustainable for most.

 Loss of competitive advantage – it is likely your top affiliates are also your competitor’s top affiliates. You do not have any real competitive advantage here, unless you perhaps pay more commission, but there are only two winners from that – the publisher and the network.
Principle 2 – Communicate effectively with your affiliates
Principle 3 – Recruit, activate and optimize affiliates all of the time
 
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