Affiliate marketing is the mode of marketing in which you earn a commission by promoting the products of another person or company. The affiliates find a product they think people can be interested in, promotes it, and earn a commission on each sale. The affiliate program uses affiliate links from one website to another to track sales.
How Can You Make Commission Through Affiliate Marketing?
You can sign up for affiliate marketing if you own a blog, YouTube channel, even an Instagram account. The below-listed steps will help you get the gist of how affiliate marketing works.
Step#1: Find a suitable affiliate program that goes with your niche.
Step#2: Sign up for the program and set up your account.
Step#3: Place the affiliate link or Ad on your platform (blog/YouTube channel/Social Media).
Step#4: Disclose that you are using an affiliate link on your platform.
Step#5: Wait for the customer to click on the link.
Step#6: Customer makes a purchase.
Step#7: Affiliate program records the sale.
Step#8: The Store confirms the sale.
Step#9: Transaction is credited to you.
Step#10: You get your commission.
How Does Affiliate Marketing Work?
Affiliate Marketing works when the product owner or seller outsource product marketing responsibilities to an individual or company and, in return, shares with them the profit they earn via product sale. Thus, affiliate marketing works with the collaboration of the following three parties.
Party#1: Product/Service Owner or Seller
The product owner or seller leverages individuals by assigning affiliate links to market their product/service and to increase sales.
Party#2: Individual Affiliate or Affiliate Company
An affiliate places affiliate links on their blog, channel, or social media accounts to promote the product/service appealingly.
They are drivers of Affiliate Marketing. When they purchase through an affiliate link, the seller receives the profit, and the affiliate gets his commission.