The modern world with the go digital vibe has brought change to many things. In the world of business, marketing came first, then digital marketing and now affiliate marketing. Affiliate marketing is the form of marketing where one promotes the business and products of others. In exchange of this promotion, one gets paid. This is a kind of sales platform where there are many stakeholders. The process of selling is completely based on commission which is predetermined by the seller and the partner. Affiliate marketing is great for business holders as there is no need to handle any inventory or deal with end customers. This performer-based marketing system involves has four elements: the merchant selling the product, the affiliate marketing those, the consumer and the network.
The four elements
Understanding these four elements is the key answer to the question how to start affiliate marketing. The merchant is also known as retailer or the seller. This seller can be a business like saleyee dropshipping or individual who offer to provide a service or sell a product. The seller collaborates with the affiliate in order to promote and sell the services or products.
The affiliate, just like the seller, can be an individual or a business who promotes service and products sold by others for commission. Marketing campaigns by an affiliate includes links, ads and banners in order to catch the attention of customers.
Consumers are everyone who follows the links and ads to reach the product or service they need. The network is the digital platform where all the process is conducted. This requires the involvement of both the affiliate and the merchant.
In affiliate marketing program, the management is quite easy. With no inventory or huge investment included, it is one of the best ways for new business owners. In many cases the affiliate actually does not invest a single penny in the business owned by the merchant. With the right strategies and right products, affiliate marketing is suitable for all stakeholders.