In today’s fast-paced pixelated age, it can be difficult for an online business to stay afloat. With all the social media, viral trends, and content, trying to establish an online presence can seem overwhelming. However, any business can propel itself to the top if it is equipped with the right tools, and one of the key things to keep in mind when it comes to running an online business is the importance of affiliate marketing.
The “do-it-yourself” mentality: helpful or harmful?
We all want to “make it on our own,” to feel independent, to use our own strength to struggle up the pot-marked, rocky hill of life until we reach the shiny summit of success. There is nothing wrong with this. In fact, ambition is a powerful weapon that can help us achieve our goals and dreams.
But it is important to remember that few of us can climb that hill alone; we need team members to help us get back on our feet when we fall. This is where affiliate marketing comes in. What is affiliate marketing? It is a process that lies at the very heart of successful industries.
How does affiliate marketing work?
Affiliate marketing involves three parties: the advertiser, the publisher, and the consumer. The advertiser is the company or individual selling the products. They pay other people to sell and promote their business, providing these parties with links to products and services that they want to incorporate in their advertising.
Publishers take this information and attempt to make it marketable. They will try to sell a company’s products or services online (usually through that company’s website), laying them out in a way that will hopefully appeal to consumers. If a person buys that product or service as a result of the publisher’s recommendation, the publisher receives a commission for it.
The consumer is the final party in affiliate marketing. He or she completes the process by being the party that actually sees the ads and then takes action (by clicking, submitting a form, etc.).
Concerns about affiliate marketing
Many people worry about “shady” business. This is a legitimate concern, and that is why it is important to have a team monitor all affiliate activity. If suspicious activity is detected, the affiliate can be shut down at once. Others worry about expense. However, think of affiliates as an extension of your business; the more you work together, the better the results.
Why it’s important
Affiliate marketing allows you to reach a wider audience and bring in higher volumes of web traffic. You can experiment with all kinds of affiliates (though social media, download portals, review sites, blogs, etc.) and not worry about overspending, because affiliates are paid only after they generate sales. Affiliate marketing also helps reduce stress. By relying on the skills of marketing specialists and advertising gurus, you will free up your time and be able to focus on other aspects of running your business.