What is Affiliate Marketing?
Affiliate marketing is an online sales technique that involves brands or business owners paying another person only when they successfully refer customers to their business. In other words, it’s a form of advertising where someone (an affiliate) earns a commission only when one of their referred customer buys from the business they’re promoting.
However, there has to be a prior business agreement between the business owner and affiliate about the commission per sale and how it would be tracked. Usually, as a business owner you can generate links unique to each affiliate to track customers that come through them or give them a specific coupon code so when anyone enters that coupon code, they know it’s from the affiliate.
Affiliate marketing is a form of third party promotion that is lucrative for both the customer and the affiliate. The business or brand reaches a wider audience without having to spend a huge amount on advertising. Also, the affiliate earn commissions by recommending people to the business or service. As a business owner, Selar makes setting up affiliate marketing for your business very easy, you can read how it works here.
Benefits of affiliate marketing
- There are no risks involved. If no sales come through the affiliate, no commission will be earned.
- Improved marketing and promotional results. Affiliates are motivated majorly by promise of financial gain. This will make them focus on result oriented marketing.
- You can reach a wider audience through the marketing efforts of affiliates. Gain access to customers you might not ordinarily have access to through your own marketing campaigns or who would ordinarily take you a long time to acquire.
- Increase visitors to your store and boost brand awareness. The traffic to your store increases when visitors come through your affiliate links even if they don’t buy from you.
- The financial gain for both parties is unlimited. Unlike fixed fee promotions where it’s one time for the promoter and there are no guarantees for sales, with affiliate marketing the affiliate can earn as much as they can sell and the business owner keeps getting sales at no extra cost other than the affiliate commission. Win-Win!
Affiliate marketing has become even more popular in recent times thanks to influencer culture and people generally having a strong online presence. More people now consider affiliate marketing a full time job. If you’re someone with the track record of faciliating sales or you just have a huge following, recommending Selar to the businesses you promote is a great way to have a structured affiliate marketing experience, as an affiliate for a Selar store, you get to have your own dashboard where you can monitor how many views your affiliate link is getting as well as the sales you’re making in real time. You can read about how affiliate marketing works on Selar here.
For more tips on how to be a better affiliate marketer, you can read more.