Understanding Affiliate Marketing Types And Their Scope
Affiliate marketing has emerged as one of the most effective ways to reach the audience base on the internet. In this post, we will discuss important things related to different types of affiliate marketing programs. If you are an online marketer or plan to work as one in the future you will be using one of them.
Choosing the right type of Affiliate Marketing that suits your skills and niche will help you earn good commission. And with help of Woost, you can further accelerate your growth.
So let us take a look at the different affiliate marketing types and their benefits.
Understanding the Concept of Affiliate Marketing
It is a performance based marketing in which the retailers outsource selling via different affiliates. The growing reach of the internet has increased the scope of affiliate marketing.
Affiliate uses banner ads, links or text ads to promote the products. The affiliate links are tracked for leads and sale with the use of cookies. The content used for promotion can be in the form of text, images or video. This model creates a win-win situation for merchants and affiliates.
We hope the concept of affiliate marketing is clear now it is time to discuss the different types.
Unattached
In this type, the affiliate shares no connection with the product or services he is promoting. And therefore the affiliate does not make any claim about its use. Because of the lack of attachment, the affiliate lacks authority.
Mostly, the affiliate has no specific area of expertise. Techniques such as PPC, display ads, and Social media marketing are used to attract clicks and earn commission. It also means that you can quickly grow sales. There is less chance to engage with customers and enhance their authority.
Unique links are placed to track performance and revenue. Highly targeted ads need to be created to drive quality traffic.
If you wish to develop a relation with the user base then this is not the right type for you.
“It’s estimated that approx 16% of eCommerce sales come from affiliate marketing programmes.”.
Related
You can earn revenue via any form of web content such as blogging, podcasts, videos, etc. The goal is to create quality content and send traffic to the merchant site. The offers can be added in form of links or banners depending on the audience.
An online presence is required to promote the offers. It also acts as a platform where you become available to users.
Involved
It involves developing a deep relationship with users. This type of marketing can be extremely lucrative for merchants and brands. The affiliate creates content around a specific product, in the form of a blog post or a video.
The social media influencers have a loyal audience and the relationship is leveraged for mutual benefit.
The affiliate has used the product and is sharing experience with users. Their positive experience acts like an advertisement. Also the trust and reputation of the affiliate is at stake as they serve as a trusted source of consumers.
The role of affiliate is much more active. They introduce, review or recommend a product. Most affiliates using this model focus on a particular niche. The inside knowledge helps them grow their subscriber base.
Other Types of Affiliate Marketing
The growing reach of the internet has increased the scope of affiliate marketing. Amazon made affiliate marketing popular. Websites and blog owners put links for a product to receive commission when a purchase is done. This model is win-win for affiliates and merchants.
Pay Per click system is not as popular as it used to be a few years ago. The affiliate is paid based on the number of clicks generated for the campaign. The website owners/ publishers host ads and earn a certain amount for each click. To ensure the clicks are from different users IP tracking is used.
The affiliate is paid depending on the number of impressions. Convincing users to purchase a product is far more difficult than driving traffic to a website.
It is the most popular type of affiliate marketing. Pay per performance is highly lucrative for both merchant and affiliate.
The merchant has to pay only when the user buys or becomes a lead. It is also lucrative for the affiliate as the commissions are high usually in the range of 15 to 20%.
Advantages of Affiliate marketing
Affiliate marketing is a low-cost advertising option for merchants. It forms a model for affiliates to earn additional income. Most programs follow strict terms and conditions to avoid false practices.
Earlier, affiliate programs were subject to frauds due to the use of certain adware that redirected search queries to an affiliate page.
As a result of clear lay out of terms and conditions, the scope of affiliate marketing has also improved. Both the merchant and retailer have access to broader markets.
Joining an affiliate program via Woost
Affiliate marketing is a great choice for those looking to increase residual income. However, you need to join a good affiliate program to find success. Woost brings the best affiliate programs, and guides partners at every step to ensure success. Once you sign up with us, you are ready to unlock the endless possibilities.
That’s all about the different types of affiliate marketing and their details. So which type of affiliate marketing do you like the most? Let us know in the comments section below.
