What is Affiliate Marketing?
Marketing is the main element for a business to run successfully. The launch of a product not alone helps you to get maximum profit; rather its promotion is equally necessary. How you promote a product among consumers or what marketing strategies you use, all depends upon the type of marketing you use for your business. With the evolution of internet, more precisely with the evolution of search engines these days, it has become very easy to market your stuff online. Â Affiliate marketing is a type, in which performance is considered to be the key element. In affiliate marketing, the affiliate is rewarded with some commission for bringing a customer to get the product or service from the respective business through his own marketing efforts.
Affiliate marketing is actually a relationship between three concerned parties i.e. advertiser, publisher and consumer. In a market place, a business acts as an advertiser. The business can be of any type e.g. insurance companies, travel agencies, electronics, clothing etc. In order to play a role of an advertiser from affiliate marketing’s perspective, the business must agree to pay to people who help to promote the business and bring customers. The second party is called as publisher that can be an individual or a company as well. The key role of this party is to promote the product or business of the advertiser in order to gain some commission or reward. They work on the basis of contract in order to avoid any unforeseen circumstances. The publishers are provided with some phone numbers that advertiser also incorporates it on the website of the respective business. Other than phone numbers, links, banners or ads are also provided to the publisher so that they can better work on the assigned project. They are required to affiliate the consumers with the product or service for which they are working for. The third party is known as consumer who plays the major role i.e. decides whether to go for the particular purchase or not. At this point, affiliate marketing actually comes, by looking at the ad or banner, the customer decides to make a purchase or not.