Affiliate marketing is not a new concept.
Has Affiliate Marketing inundated your social media channels? You’ve heard the words before, and it gives you the “ick” assuming it’s another MLM or pyramid scheme?
The truth is that affiliate marketing is not a new concept, and increased in popularity due to a multitude of reasons. And you’ve likely been exposed to it without even realising.
Do you remember watching tutorials, reviews, unboxing, etc. that were for tools, subscriptions, make-up or other products? Often you would hear the creator say, “check out the link in the description below” and it would take you to an online platform where you could purchase the exact same thing they are using? These people receive a commission off of the sale generated from these links, and many have become very successful doing it.
What is Affiliate Marketing?
Affiliate Marketing is a performance-based marketing strategy where an affiliate (you) earns a commission for promoting someone else’s product or service. When a person clicks on your unique link that is connected to this product or service, and make a purchase, you receive a commission.
What are the Steps Involved in Affiliate Marketing?
Choose Your Niche: decide on a topic that you are interested in and knowledgeable about.
Join a Program: Find affiliate programs that offer products or services in your chosen niche.
Promote: Once you have joined an affiliate program, you will be given a unique referral link that you can use to promote the products or services.
Track Your Referrals: When someone clicks on your affiliate link and makes a purchase, the affiliate program tracks the referral and credits you with a commission.
Earn Commissions: As people click on your referral link and make a purchase or generate a lead, you will earn a commission based on the terms of the affiliate program.
A Brief History of Affiliate Marketing
Affiliate marketing can be traced back to the early days of the internet, in the mid 90s. Amazon was one of the first companies to use affiliate marketing, and it quickly became one of the most popular ways for businesses to increase their online sales. By 1998, affiliate marketing had grown into a $6.5 billion industry. And it continues to grow, and today has a market value of $17 Billion.
How is Affiliate Marketing different from an MLM?
Affiliate Marketing and MLM (Multi-Level Marketing) are different business models.
As an affiliate marketer, you promote products and earn a commission on any sales that you refer. There’s no inventory and no need to recruit.
MLM’s often have a pyramid like structure, and involves recruiting others to join and pay for inventory or other fees. These models often require you to build a downline of other participant to earn money. This pyramid structure means people at the top earn the most money, while those at the bottom earn the least.
What’s the Difference between Low-Ticket & High-Ticket Affiliate Marketing?
High ticket affiliate marketing allows individuals to earn a significant amount of money by promoting high-priced products or services. Unlike traditional affiliate marketing, where the commission earned is usually a small percentage of the sale.
How can I start Affiliate Marketing?
Get educated! Learn the fundamentals of what it takes to create an affiliate marketing business. The Freedom Affiliate Launch is an excellent course for anyone who wants to learn how to get started. This course will help you understand how to find a profitable niche, build a website, create a funnel and drive traffic to your links.
If you're not ready to dive right in, you can check out the free 60 minute Masterclass! You will Learn
The 6 mistakes you need to be aware of that can stop you from ever earning a dollar online.
How to build & launch an online business in 2023, even if you have nothing to sell or no experience.
How it is actually possible to create an income online without having any physical product to sell.
The 3 steps that make up a time freedom framework for all aspiring affiliate marketers! What you actually need to build to 'replace' yourself, and make sales without being present.
Fun Facts about Affiliate Marketing:
Affiliate marketing has a market value of $17 billion as of 2023.
It was estimated that affiliate marketing spending in 2022 will be around $8.2 billion U.S. dollars. Seeing the growth chart, we can expect the same to be around $13 billion in 2023.
16% of online orders in the United States come through affiliate marketing.
Affiliate marketing is used by 83% of marketers to raise brand recognition.
Some of the top businesses in the world get 5% to 30% of their internet revenue via affiliate marketing.
80% of brands have an affiliate program.
Bloggers and Review sites are the leading channels for affiliate marketing.
There are over 10,000 affiliate marketing related services and companies globally
Read More Here: https://www.demandsage.com/affiliate-marketing-statistics/