Affiliate Marketing is an Internet-based marketing practice in which a business rewards one or more affiliates for each visitor or customer brought about by the affiliate's marketing efforts.
The Affiliate Marketing industry has four core players at its heart: the Merchant, the Network, the Publisher and the Consumer. (Source Wikipedia, the free encyclopedia).
As an affiliate your job is to promote a product or service to your "list", this enables product or service provider with the opportunity to reach people they would not normally have access to and to make additional sales. As an affiliate you are compensated based the sales you generate. Commissions can be as low as 5 pr 10% to as high as 100%. How can someone pay you 100% commission and still make money? Because they are using your list to build their own, and when they make another mailing, they keep the full profit. In addition, they can still make money when they sell an OTO (one time offer) or other product that is either an upsell or a downsell to the original offer. We will discuss this concept in more detail later when we cover marketing.
As an affiliate, you do not have to have your own product, or worry about technical support or any of the other things a product or service provider has to deal with. It is an easy and inexpensive way to get started making money on line.
Affiliate marketing is a cost effective way for a product or service provider to reach a large audience and build there list. One of the first companies to offer an affiliate program was Amazon. Many internet marketers as well as Fortune 500 companies use affiliate marketing.
Next time we will discuss Affiliate Marketing Programs and tell you what to look for and what to look out for.
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1 comment:
How do you determine which affiliate programs are good ones? Do they cost anything to join and how often do you get paid.
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