Affiliate marketing is actually one of the earliest types of marketing. It works when you recommend someone to a certain product on the internet and when he purchases the product due to your suggestions. You will receive a commission. This commission varies from 5% to 100% depending on what product you are promoting. Aside from that, if you want to try an effective affiliate marketing program, we recommend you to check out https://michaelpedrotti.com/clickfunnels-free-trial/.
Affiliate marketing works in these 4 steps:
1. You join an affiliate program.
2. You choose a product to promote (you will get a unique affiliate link that you will post on your blog or can be used to be promoted through other media).
3. You share links through social media, blogs, YouTube videos, Facebook ads, etc.
4. When someone makes a purchase, you will get an affiliate commission.
Here are some general terms related to affiliate marketing:
Affiliates: Publishers who use links of affiliate programs to advertise and generate sales.
Affiliate market: There are many markets such as Shareasale, CJ, and Clickbank. It functions as a central database for affiliate programs in different niches.
Affiliate software: Software used by companies to create affiliate programs for their products.
Affiliate link or URL: A special tracking link offered by the affiliate program that you follow to track your affiliate promotions.
Affiliate ID: Similar to an affiliate link, but many affiliate programs offer a unique ID that you can add to any product site page.
Payment methods: Different affiliate programs also offer different payment methods.
Example: Check, Transfer, wire transfer, PayPal, and others.
Affiliate Managers: Many companies have dedicated affiliate managers to help publishers earn more by giving them optimization tips.
Percentage commission/amount: The amount or percentage that you will receive in affiliate income from each sale.
2-tier affiliate marketing: This is a great way to make money from affiliate programs. This way, you can convince others to join the program, and you can get commissions when your sub-affiliates generate sales. The profit is known as a sub-affiliate commission.