It’s been proven time and time again: consumers are more likely to believe a third party than a brand itself – “one online study found that a majority of consumers aged 18-34 (63%) are more trusting of influencers than a brand’s advertising.” When others wax poetic about your product or service, they’re more credible to the shopper.
So why not reward them for it? In a nutshell, that’s what affiliate marketing programs are all about.
If you’re tired of sorting through the noise and ready to invest in an affiliate program, this article helps you better understand the affiliate market’s diversity, what’s in it for you and how to attract the right affiliates. Familiarize yourself with the different types, programs, and possibilities affiliate marketing holds for your brand and get tools you need to build a sought-after program.
affiliate marketing model
The basics: what is an affiliate program?
There’s no better place to start than at the beginning. An affiliate program is the relationship between the seller and the “others” advertising any given product. Simply put, it’s the agreement between the product owner and the product reseller, or affiliate.
The seller or retailer lets other parties, or resellers, advertise its merchandise and pays them a commission on each successful referral. It’s an effective Philippines Photo Editor method for both parties. The seller increases traffic and sales with a guaranteed return on ad spend while the affiliate makes passive income – the higher the commission, the higher the income.
An affiliate program by any other name is just as sweet
When William J. Tobin filed his patent for online affiliate marketing after generating impressive revenue from advertising his flowers through the first online network services in 1989, he probably didn’t dream it would spur such variety.
The following is a comprehensive list of current affiliate marketing types:
13 types of affiliates
Blogging – professional bloggers who specialize in your industry and have established authority with a significant audience that can provide valuable traffic. Bloggers make up the largest percentage of all affiliates.
Influencer marketing – a relatively new branch in the affiliate sector, the idea is for influential people who are relevant in your market and have a large audience to promote your product or service, usually on social media platforms.
Site owners and webmasters – there are countless site owners who build websites and will advertise you on their site, many of which work through leading affiliate networks, such as CJ and Shareasale.
Product review sites – an area where affiliates test, review, and compare products and services in a field of their interest. They are perceived as authorities and can present your advantages, features, and benefits based on facts and experience.
Shopping comparison – similar to review sites for eCommerce, these sites focus on comparing prices and the buying process, rather than personal experience. Examples include PriceGrabber and Shopzilla.
Coupon sites – promote your deals and boost special offers to give your prospects financial incentives. Popular sites include Slickdeals and Groupon.
Loyalty and cashback sites – use financial incentives to improve loyalty and give a percentage back to the buyer based on their purchases through the affiliate link.
Email marketing – enables you to send your content to email distribution lists or advertise in newsletters via your affiliates. Email is the most effective marketing channel, but don’t overdo it, as prospects are likely on a number of different lists.