What is Affiliate Marketing?
We all know you would rather get yourself a product worth a 100 bucks but being sold for 50 than a product prized originally at 50. It’s just much more appealing for some reason. Same goes for something worth 49.99 than 50. In this time of rise in Consumerism everybody wants one thing, to get more while spending less. This key idea has also been the focal point of marketing strategies for many organizations. This is the exact reason behind discounts.
There is a new game changer in the market that firmly grips this instinct exhibited by humans and seeks to make the most out of it. Today the market has grown in complexity, resulting in the emergence of a secondary tier, made solely out of people involved in making products more tempting to buy and to increase the number of people buying that product.
This secondary tier is called Affiliate marketing. It’s one of the most promising and fast growing sectors in the market.
How does Affiliate Marketing work?
Affiliate marketing works by paying a commission for referring customers to someone else’s product. These companies basically use certain strategies to market the product of other companies. For this they are paid part of the deal. They help in increasing the clientele of the company or to make already attached customers stay loyal to the company. For this they use a variety of ways.
An advertiser only has a limited reach in terms of being able to engage with your target audience and to keep them involved. That’s exactly why many advertisers choose to run affiliate programs. These are often managed by other third party networks, which is a growing startup option for many young and aspiring entrepreneurs. The network will provide the technology that actually runs the affiliate program.
The basic premise is that the advertiser will upload creative / product feeds and will dictate which potential ‘affiliate’ can make use of these and promote their product. Affiliates might range from small blog sites to large scale publishers such as cashback sites, newspapers, voucher code sites, price / product comparison sites. The affiliate will pick up the creative / feeds etc. from the network and integrate them into their site.
Rather than linking through to the advertiser’s site directly, the links will pass through the affiliate network servers before redirecting to the advertiser page, giving a chance to ‘affiliates’ to earn through number of redirects’.
CASHBACK-The New Market
Cashback and Coupon site is a new emerging way of affiliate marketing. These websites provide Cashback offers and other discount coupons that when used on the advertiser’s website for online shopping provide with one of the cheapest way to buy that product.
A lot of entrepreneurs are looking towards this mode of affiliate marketing as a career option. One such startup is Savemonk that seeks to provide customers with deals that not only benefits the customers but also increases the customer base by introducing new and enticing offers.
Affiliate marketing is emerging to become its own independent branch with a lot of potential so does the startups involved in this branch. To invest in them and to engage in purchases using services offered by affiliate marketing will definitely benefit all the three vertices of market; the advertiser, the affiliate program and above all the customer.
Keywords: Savemonk, Cashback, startup
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