An affiliate is a partnership type that pays out monthly or weekly commissions. The actual process is known as affiliate marketing. There are three parties involved in affiliate marketing: the company or seller, the affiliate, and the consumer. If you aren’t involved in affiliate marketing then maybe it’s time to consider becoming an affiliate to supplement your income. Read on to find out more…
What is affiliate marketing?
Affiliate marketing is a type of performance-based marketing in which a company pays affiliates a commission to promote their products and services. In simple terms, it’s a monetization model where an affiliate is rewarded for providing a certain result to a company.
The company provides affiliates with a unique link so they can track who was responsible for referring clients to them.
How do Affiliates get paid?
You’re probably wondering exactly how affiliates earn commission once they refer clients. Well, affiliates receive a commission for an action that is taken as a direct result of their marketing performance like a sale, click, registration, etc. The consumer doesn’t always need to buy the product for the affiliate to earn a commission. The actual affiliate program determines how an affiliate will be rewarded. Affiliates may be paid in different ways:
Pay per sale
As a result of the affiliate’s marketing strategies, the company pays the affiliate a percentage of the sale price of the product when the consumer buys the product.
Pay per lead
Pay per lead affiliate programs reward the affiliate based on the conversion of leads. The affiliate must persuade the consumer to visit the company’s website and carry out the required action.
Pay per click
The affiliate must provide an incentive to redirect consumers from their marketing platform to the company’s website.
Commission rates differ depending on the company and the offer. Affiliate marketing is a performance-based system. Affiliates are rewarded depending on their performance. So, the more sales, leads, or clicks for the company, the higher the payout for an affiliate.
What are the benefits of becoming an affiliate?
There are many reasons why you should become an affiliate marketer. Here are some of the most important ones:
Your marketing skills will help you to earn a steady income even when you’re sleeping.
Affiliate marketing can be done at a low cost so you can get started relatively quickly. There are no affiliate program fees to consider and there’s no need to create a product.
You are free to set your own goals, choose the products you’re interested in and even set your own hours. So, you can diversify your portfolio if you want or focus on simple campaigns.
Work from home
You’ll be able to launch campaigns and earn income from the comfort of your own home.
Affiliate marketing is based entirely on your performance and you’ll get from it what you put into it. If you put in enough time and effort, you’ll be rewarded accordingly.
How to become an affiliate
It’s really simple! Just like running your own business, becoming a successful affiliate requires dedication and discipline. To become an affiliate and start earning commission, all you need to do is join an affiliate program and share your referral link with your traffic or network. You’ll start earning commission when your referrals register with your link.
Affiliate programs are usually free to join, so you don’t need to worry about high start-up costs. Affiliate marketing is a rewarding way to boost your income. All it will cost you is your time.
Ready to get started with affiliate marketing?
Click here to join IronFX’s Affiliate Program.
Disclaimer: This information is not considered as investment advice or an investment recommendation, but is instead a marketing communication