Why Affiliate Marketing?
The increasing use of the Internet and social media followings are being propelled by rapidly emerging business paradigms much beyond the scope of recreation and information gathering. Cyberspace offers lucrative prospects for passive income generation, and affiliate marketing is on the radar. It is one of the fastest-growing activities on the Net used not only for sales, revenue, and lead generation but also for advertisement purposes and brand recall. Often neglected and seen in a bad light, the techniques employed now are the right ones to revitalize your brand and services.
A large number of companies are creating affiliate networks as part of an effective marketing strategy online. With an ever-increasing customer base on the Net, staying ahead in the fierce competitive sphere with innovative practices is the key to survival.
More and more companies in India are jumping into the fray to rule over online revenue generation stacks. Platforms populated by enthusiastic subscribers on social media are turning into lucrative grounds as income generation opportunities. Integration with eCommerce sites is further boosting sales as the pitch moves into cyberspace. This is thanks to the availability of multiple platforms and media propagation. In addition, online shopping has been boosted by the proliferation of tablets and smartphones, which are now within reach of the common person.
Online/Passive Income Generation
There is a new class of persona emerging because of the ever-changing dynamics of rapidly growing cyberspace. As a result, new opportunities are unfolding year on year, and those searching for online income generation are discovering new platforms that can make their dream come true.
The key factors that are creating a huge consumer base are not only graphic-driven utilities or audio-visual attributes. The phenomenal speed and infinite reach are major contributory factors. The Net has penetrated diverse demographics creating a virtual global economic order.
Online eCommerce is finding much space because of electronic transactional capabilities, security, and portals showcasing real dimensions virtually with great success.
The number of subscribers is over a billion, giving rise to a new literary paradigm. We are already familiar with bloggers and influencers and greedy website owners seeking a quick buck. But with the emergence of diverse capabilities in the virtual arena fortified by secure technology, people are increasingly using the Internet for shopping. As this activity reaches its peak, and the negative impact is felt by the brick and mortar intuitions. The convenience is unparalleled whence compared with driving into a brick-and-mortar shop. The comparison resources available online lead to better judgment on what to choose and what price to pay on eCommerce sites.
Activities on the Internet are due to technology-driven platforms; information gathering and data play a major role in marketing strategies, besides online propaganda on social media is actively influencing purchasing patterns. Data analysis and research orientation are reshaping new strategies targeting relevant buyer personae with a close focus on the niche. In addition, affiliate marketing is becoming increasingly inclusive and is now a major contributor to digital campaigns.
But merchandising is no longer the prerogative of companies and entrepreneurs big and small; it has created a level playing field in which the common has as much a chance. If you dream of passive incomes inundating your bank accounts go ahead and integrate the custom packages available on the Net.
This activity is within the purview of the common person and is proving to be an excellent source of passive income. Companies effectively leverage the ever-increasing desire for passive income generation among the users to evolve an effective strategy based on affiliate programs.
Affiliate Marketing Passive Income Generation
One of the major tools for generating income is silently making inroads into the digital World. It is turning into one big tool to create brand awareness and promotion besides targeting sales.
This is like a piggy bank ride that enables marketers to exploit the full potential of their influencer status, blog popularity, and immense following on social media platforms like FB, Instagram, Pinterest, YouTube, and Twitter. Therefore, sites and portals with high traffic focus on all those belonging to the niche and seeking a long-term earning source.
The concept is simple, and the marketer has to register online with a merchant or a product manufacturing company to become its partner and join an infinite chain of the lucrative network. The next step is to place the link, also called an affiliate link, appropriately on one's site, social media profile, or blog. The product creator or a manufacturer can be a single person or a fortune five hundred company; they are known as the merchant in this ecosystem. The affiliate is known as a publisher or partner, and he could be a single person owner of the blog or website or a big company.
The publishers can promote several products and services on his website. The onus is on them to create relevant traffic pertaining to the niche and persuade the visitor to click on the link to make a purchase.
For effective conversion, the publishers have to create persuasive content or add positive reviews. This is essential for promoting the product, and the mere addition of a link is not enough. The affiliate link is usually a colorful company logo/brand or an attractive image of the product.
The link works like a PPC Tool whenever visitors click on it, they are taken to the merchant website. The merchant website records this activity, and the publisher earns a commission as per the agreement. The commission is usually made if the visitor makes a purchase, but depending upon the company goals, the commission can be earned by sending visitors to its site.
Business Promotion using Affiliate Programs
Every time you promote a product or service, the company benefits from enhanced revenue in sales. But the process is not limited to one goal; it has various benefits for the company. The influencer or the publisher is promoting sales and all the onsite contents, visuals, and reviews, which add up to an effective means of the digital marketing mix—the merchant benefits from product recall or advertisement besides sales. The end goal for many companies could be propaganda, and this is one economic means of online advertisement. The payment is made on sales, but the advertisement happens through impression as well. This is one good way of maximizing digital marketing campaigns and extending reach.
Technically the whole activity is handled by a software program at the merchant end that does all the work. This is the software that is responsible for calculating and table commissions besides a plethora of analytical tasks. The program facilitates content creators, bloggers, publishers to monetize their traffic.
Amazon Associates
Amazon Associates is one fine example; it promotes other company products available on its eCommerce or shopping sites. Amazon considers customer action like signing up for a free trial program on similar lines as a qualifying purchase. It welcomes app owners and influencers on social media with considerable following into its program.
Inclusive Digital Campaigns
With ever-expanding social media networks and constantly increasing subscribers, which are now in millions, digital campaigns have become inclusive of affiliate programs. Content marketing is one preferred strategy employed by merchants and publishers to increase traffic and achieve goal conversion. By employing different tools available online, publishers can subsequently enhance their performance and generate impressive passive income. Although often promoted as - you earn as you sleep - this is not true since continuous efforts are required from the partners and merchants.
Traffic is the key to passive money generation success; hence popularity on social media in your niche or an effective search engine optimization campaign is a must for those seeking this kind of passive earnings. Even companies seeking to expand their partner base should resort to SMM or SEO. Finally, those in the big league can use an expensive SEM paradigm.
Running an effective program is one of the best means for companies seeking web saturation online. This program is most beneficial for those catering to a niche, and the influencers about the expertise are the most sought-after partners.
However, a data-driven approach should be followed when planning affiliate business; creating a suitable buyer persona and targeting the right social media will pay a rich dividend. In addition, not all social media sites and not all influencers are the same. Therefore, a well-focused and planned entry is a must.
Affiliate Marketing in Figures
This activity is worth 12 million USD now, of which the US alone is worth 6.8 USD. These are pre-pandemic figures. The future scope is expected to rise further. Almost 80% of content creators monetize their web traffic by leveraging this activity. Eighty percent of brands now implement this to generate leads and brand awareness Worldwide. Indian brands need to leverage affiliate marketing to push and promote their products online and stay in the competition with their western counterparts.
As of 2020, there were more than 11000 programs alone in the US. ShareASale's with more than 5000 programs & CJ Affiliates with more than 1500 programs rank in the top ten networks. Percentage commission averages at 5 % but can go as high as 30%.
Top Affiliate Paying Programs
- eBay Partner Network
- Click Bank
- Rakuten Advertisement
- ShareAsale
- CJ Affiliates
- Amazon.in Affiliate Program
- Partner Stack
- Fiver
Top Affiliate Programs in India
- Flipkart Affiliate
- Big Rock Affiliate
- Amazon Affiliate
- Hostgator Affiliate
- Yatra affiliate
- Cue Links
Software Platforms for Affiliate Tracking & Marketing
- Everflow.io
- eBay
- His path
- Cake
- LinkTrust
- Voluum
- HasOffers
- RedTrack.io
The marketing and tracking software are used for analytical tasks, tracking conversions, clicks, and sales registered at partner websites. They provide valuable insight as to what activity or resource is bringing in conversions besides calculating commissions. Some management programs integrate eShopping activity with affiliate management. Some examples are:
- PayKickstart
- Impact
- Post Affiliate Pro
This is a rapidly growing segment in the Digital World, as the figures indicate. It is an easy way to make a passive income with little ingenuity. The customized programs appointed by the merchants enable partners with easy implementation and management like a one-stop solution.
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Uday is a blogger and provides a search engine optimization service for digital marketing. In addition, he provides website content and content for authoritative links. He teaches Internet Marketing in Jabalpur.
He can be contacted at:
pateluday90@hotmail.com
09755089323
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