What is Affiliate Marketing
Affiliate marketing is a marketing strategy in which an online retailer pays commission to an external website for traffic or sales generated from its referrals. It is one of the oldest forms of marketing wherein you refer someone for online purchase and you get the commission for the same when the sale is completed.
How does it work?
Suppose you have a website and you post an ad for some other website when people come and visit your website, they will see an ad posted for some e-commerce website or any other kind of business. Interested people will then click on the related ad and if they make any transaction or any kind of business is generated from it, this entire process is called Affiliate marketing.
Scope in the industry
It really has a great scope in the industry and it is an important part of digital marketing. You can bring a lot of traffic on your blog or webpage using an affiliate marketing plan. It is a kind of off-page promotion of your product. The industry is looking for people who can make decisions for where to place an ad and which are the related sites for affiliate marketing. You can really earn good money with affiliate marketing even if you are a freelancer.
There are some great benefits of Affiliate marketing:
- Companies get more related traffic on their website as people who are actually interested will click on the ad.
- They have to spend only when the sale is made as a successful transaction has to be there for affiliate marketing to be completed.
- Your ads are placed on relevant websites.
- Effective use of advertising budget.
- It improves partnerships and collaborations.