Affiliate marketing has been one of the popular ways of making money online in Malaysia. This framework has been so successful that it even appears widely on numerous internet channels. What makes affiliate marketing so attractive? Let’s discuss further on affiliate marketing.
What is affiliate marketing?
In affiliate marketing, an affiliate earns his or her commission through selling, advertising or marketing the other company’s product. To explain it in a simple way, affiliate marketing is the process whereby the affiliate (Publisher) earns money by promoting the retailer’s products.
Who are the key players in affiliate marketing?
1) Retailers (Product Creators, Manufacturers & Retailers)
In affiliate marketing, the retailers comprise of the creators, manufacturers, innovators and retailer. They are the advertisers. They establish the affiliate system with the objective of sourcing more affiliates to help them to market their products.
2) Affiliates (Publishers)
Affiliates are known as the publisher. Affiliates can be an individual or a group of companies. They help the retailers to market their products to potential customers. To put it another way, affiliates persuade and convince the potential customers to purchase the product by using their personal blogs, landing pages and social media. In return, the affiliate will be rewarded with commissions for each successful conversion being made.
3) Consumers
Consumers are the parts that make up the whole affiliate system. When consumers make their purchases, the sales are being tracked via affiliate links to determine the amount of commission to be paid to the affiliates.
How do affiliates get paid?
1) Pay Per Sales (PPS)
Pay per sales method has been regarded by many sellers as the most common method among the today world. Affiliates get commission payouts from the retailers after consumers make the purchase as a result of the affiliate’s marketing efforts.
2) Pay Per Lead (PPL)
Pay per lead method often requires affiliates to direct consumers to complete certain desired action to get pay. For instance, an affiliate may direct interested consumers to leave their contact information. As a result, the retailer will pay the affiliate based on the number of leads generated.
3) Pay Per Click (PPC)
For this type of payment, affiliates are required to direct their audience to click on to the seller’s ads. Affiliates will be paid based on the increase in web traffic. One of the advantages is that the retailer will compensate the affiliates even with or without the consumer purchasing their product.
The benefit of being an affiliate
1) Low-Cost Business Idea
Being an affiliate does have its own perk. You don’t have to create a product nor pay any fee to join the affiliate program offered by the retailers. What you need to do is just get their designated banners and then put them on your website, blog or even your social media.
2) Customer Service is not in Your Interest
Handling customer’s issue like customers problem, enquiries and request can often be a daunting task. However, such cases do not apply to an affiliate as you are only being tasked to uphold your obligation on directing more traffic or sale to your merchant. Therefore, whatever hassle bustle issue will be handled by the retailers.
3) Passive Income – Earn Money While You Sleep
You just have to put in initial effort in drafting the content for your retailers. After you have placed your retailer’s banner on your site, you just have to wait for the right customers to view the banners and start to collect your commissions when they make a purchase.
4) Flexible Working Schedule
Being an affiliate, it grants you the flexibility to work because it does not bound to any time limit. It also gives you the flexibility to work on your affiliate strategy no matter you are working or taking a long holiday break.
How to be a successful affiliate?
1) Choose an affiliate program that is relevant to your audience
Many affiliates tend to make mistake by enrolling in many affiliates programs. The most important things when choosing an affiliate program is to understand who is your audience. So it’s best for you to do some deep research before agreeing to promote the seller’s product. For instance, if your contents are relevant to e-commerce, then you should join an affiliate program that promotes e-commerce product.
2) Explore more alternative channels to market your retailer’s product
The concept is pretty simple. If you help to market the retailer’s product to more channels, you are more likely to get more traffics and more leads. In addition, it can also help you to identify the best channels that provide you with the greatest return. So instead of posting your retailer’s banner in your sites, you may start exploring other alternative channels like social media.
3) Choose the right retailer
Choosing a quality retailer to promote is an important task. Do take some time to research and understand the retailer that you plan to sign up as an affiliate. Choosing the wrong retailer to promote will not only ruin your rapport but will also hurt your credibility in the long run.
4) Develop a close bonding with your audience
Building a closer relationship with your audience is a strategic method in promoting your seller product. Once your audience has become your loyal follower, they are more likely to be influenced by your content. All you have to do is just market the seller’s product and watch the change happened.
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