By: Sahil Mittal | Date : 23 Apr 2020 | Category : BusinessDate : 2 years ago
It’s 2020 & businesses today have totally revolutionized the old and clumsy style of marketing. More and more businesses are adopting finer modes of advertising that are not only cost-savvy but are strategically magnificent. One of the very steady ways to generate passive income today is Affiliate Marketing. Affiliate marketing in its broad term is the new digitalized mode of Word-of-mouth marketing that allows businesses to reach a wide array of customers through their affiliate channels.
Generalizing it in a simpler manner, “Affiliate marketing is the art of making money by influencing customers to buy the desired range of products & services”. This performance-based marketing module has become an effective lifestyle of thousands of marketers around the world. More and more people are joining this internet-based “side-hustle” to pour plenty of money into their accounts supplementing their regular income.
According to the latest Statista report “ Annual Affiliate Marketing Spend is projected to cross $6.8 Billion marks this 2020. In the U.S more than 81% of businesses have already adopted affiliate marketing as one of their very effective sale strategies. By 2020, the affiliate marketing industry is forecasted to eclipse $8 billion marks, nearly double to that in 2015.
One of the very obvious questions, when it comes to affiliate marketing, is “How to earn money from affiliate marketing”. Though there are multiple kinds of affiliate marketing existing in the market, this internet-based marketing technique involves the data distribution between three eminent parties. To understand the whole process let us quickly understand the role of the involved parties;
1. Creator: The creator can be a solo entrepreneur or a large business entity, who creates effective channels for the listing products & services. For every successful sale creator reward marketer with a portion of profit earned.
2. Affiliate Marketer: Also called publisher, is the one who is responsible to advertise products or services of the creator over all social channels. For each successful desired action, the affiliate earns a suitable portion of the profit as commission.
3. Consumer: The major player in the process is the one who performs the desired action. For every successful purchase of products or services, both creator and marketer enjoy a suitable income generation.
So, after a quick understanding of the process, let us understand the different types of affiliates modules present in the business ecosystem and their relevance.
1. Pay per click: One of the very best, and promising types of affiliate marketing programs, allowing marketers to reap maximum profits just on redirecting customers to the creator website.
2. Pay per lead: In this type of affiliate program, a marketer earns on the successful execution of the desired action by a consumer. This can be signing up for an email list, filling a form, or a free trial.
3. Pay per sale: One of the very effective, yet challenging kinds of an affiliate program. For every successful purchase by a consumer, creator credit marketer with commission ranging in between 4-10% of every successful sale.
4. Pay per referral: One of the very recently introduced affiliate program, where an affiliate enjoys a share of the profit for every successful referral to the creator website. The consumer is desired to perform a suitable action for e.g. getting pre-registered, launching a new product, etc.
Though there are different types of affiliate marketers you will find in the industry, but for any brand to build a very successful affiliate marketing program, it takes a lot of research and strategic planning to choose the right set of marketers to make the product reaches the right set of audience. Some of the very authentic and renowned affiliate marketers include.
1. Influencers & Bloggers: An influencer is someone who has established credibility & influential skills to persuade customers to purchase the creator’s products & services. A blogger on the other side typically shares an experience about the creator’s products & services.
2. Content Creators: A content creator is someone who creates, curates, edits & manages the flow of content. They typically contribute information to digital media through infographics, graphics, brochures, print media, social posts, and blogs.
3. Professionals: Yes, you heard it right. The foundation of any industry is laid by the experts & professionals who are the real contributors to confidence, competence & belief. “Uepaki” admired this phenomenon and invited professionals in design & art space to act like its real “Brand Promoters” and act as affiliates for the business.
Benefits of being an Affiliate Marketer:
Now since we have a basic understanding of the affiliate program, let’s talk about some of the benefits that affiliate marketers can enjoy working with any brand.
1. Performance-driven: We often see people working 48-60 hours a week, yet enjoying the same salary at the end of every month. Affiliate marketing, on the other hand, let you earn money even while you are sleeping. All you need is to plan a business need and accordingly promote it across your social channels to drive maximum benefits for your efforts.
2. Reach: Advertise a brand product or service over your social channels and get associated with its brand value. Yes, it is as simples as it sounds. Advertise products that you personally find worthy. This will not only build rapport with your fan followers but will even increase the level of trust among your follower community.
3. Huge potential income: Enjoy incredible earnings with your personalized efforts and strategies. Market products & services among your social channels and enjoy potential earnings even when you are sleeping. Build stardom among your community members and associate with as many industry programs as you can.
4. Career Growth: Affiliate marketing has grown over leaps and bounds and is one of the top-paying careers today. With your association with brands in your industry niche, always look to enter other niches as well to keep yourself growing.
5. No risk: Promoting a specific product isn’t making you ample money? Don’t worry switch to other products & services listed on the platform and start making money again. Look out for an efficient affiliate program, generate your affiliate link, and start advertising.
6. No Expertise required. Being an affiliate marketer doesn’t demand any special belief and expertise. All you need is to know how to operate a tech device and the ability to build engaging content over your social channels.
Benefits of being a Brand promoter with UEPAKI:
Industry-first of its kind, a No-PAID Promotion Platform, where your efforts, dedication, creativity, and hard work will decide your visibility on the platform. At UEPAKI, we have incorporated the right sense of competition among our seller professionals, which will then with time let you compete with professionals around the world.
UEPAKI very first “associate” program of its journey. UEPAKI will be coming with a series of such Affiliates programs scheduled after the launch of the product. Talking about the benefits of participating in the “UEPAKI Brand Promoter Program’; this program is valid till the pre-registration window. At the end of the pre-registration window, top five performers under every domain vertical which are Fashion, Interior, Graphic, Makeup Artists, Photographer & Content Creator will be awarded exciting benefits which include;
1. No subscription fee: Yes, isn’t it hilarious? No subscription fee for an entire year. If you are among our top five performers, then you don’t have to worry about any subscription fee.
2. Discounted Commission: Yes, you heard it right. Top performers can even enjoy discounted commissions up to 5% on successfully delivered orders.
3. Enduring Tie-Ups: Best performers will be given a chance to collaborate with UEPAKI for our future endeavors and Affiliate Programs. These performers will be given a chance to represent UEPAKI around the world.
4. Immense Growth: Though every performer on our platform gets a fair chance to enjoy immense career growth, yet top % performers will be broadcasted on “UEPAKI HALL OF FAME”.
5. The Earning Circle: We have a dedicated place for content creators, influencers & bloggers on our marketplace. We are a seller marketplace, and since the performance of a seller will even be evaluated on their contribution to the Design & Art community. This brings a fair chance for content creators to associate & earn big with us.
Tips for being a Pro-Affiliate Marketer:
1. Pre-Scrutiny: Before you say yes to any project, always remember to check the authenticity of the business. Make sure you are promoting the right product & service among your fan followers as any deceit will cause substantial loss of trust among your followers.
2. Techniques & Strategies: Every business targets a different set of audience. Do plan your content and strategies in advance, and then broadcast any product in front of your customer.
3. Stay updated: Always keep your followers updated with all the recent trends in your niche. With time start introducing yourself to other industries as well.
4. Offer something new: Never advertise products & services of a single merchant. If possible rotate advertising different products among your followers. This will keep your crowd engaged and happy.
5. Monitor Traffic Sources: For better targeting and results always keep track of your traffic sources. Monitor crowd over your paid, organic, email, or social media channels. Plugin google analytics on your devices to check age, gender, location, bounce rate, etc.
The business world through “Affiliate Marketing” Has carved tremendous opportunities for almost everyone. Whether you have a huge follower base or not, promoting worthy products & services before your targeting audience will let you enjoy good payouts. If you enjoy reading this article feel free to reach out in the comment section below. We will be happy to know your thoughts.