Affiliate Marketing – Generating leads and driving business
As marketers or business owners, our main aim is to stay ahead of the competition by deploying innovative strategies and tools. But have we ever stopped and looked around at the tools already in hand and best utilized them for driving our growth? The case in point here is affiliate marketing. Amazon with its Associate Program, launched in 1996, opened doors to this performance- based marketing model wherein the merchant (seller or the brand being promoted) pays commission to the affiliates (webmaster, marketer or publisher) when traffic that is being referred to their website turns to conversions. Commissions are received in pay- per- lead model or pay- per-conversion model with latter being more common.
Affiliate Marketing is now a Billion Dollar industry and many organizations earn chunk of their revenue and generate leads from this model on an everyday basis. A lot of times, lead generation and affiliate marketing are mixed up. To have a clear understanding, affiliate marketing is a channel. It is a source of leads. How authentic and how relevant that depends upon the network that the merchant has chosen to partner with expert market research .
Whether you own a gigantic business or a start- up and are looking for leads to drive traffic to your business, then affiliate marketing is a great fit for you. To get started, you need to have clarity about the set target audience of your product or service. The next step would be to determine the commission model you‘ll opt for – pay – per – lead or pay – per – commission. Once that’s decided , you must join a well -known network that has network of existing affiliates who can henceforth drive authentic leads to your business. Remember if it’s not authentic, it is not desirable.
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