The onset of the internet has brought about a lot of changes in the world. One such aspect that has been revolutionized is the advertising market! Affiliate marketing is a brilliant and an innovative way to earn money through a web site. It is very simple and straight forward. It works through promoting third party products on your personal web site.
But what does affiliate marketing mean?
Affiliate marketing is the “process of earning a commission by promoting other people’s or even a company’s products.” Any user with a web site can indulge in this amazing way of earning money! As a web site owner, you can choose any product you like- from books to bath products, from electronics to clothing accessories, and even from groceries to e-products and softwares!
Once you have selected the product, or products you like best, you can promote it to others through your web site. You can promote it through advertising it, and hence earn a piece of the profit for each sale that you make!
Benefits and the Rise of Affiliate Marketing in India
Affiliate Marketing has grown to now become a multi-million-dollar industry globally. And it is not surprising that this industry is boosting in India as well. In fact, if the statistics are to be believed, then according to an industry estimate, affiliate marketing has aced in today’s internet driven market space. It has grown by up to an unfathomable 500 per cent over since the past 3 years!
At present, we have different formats of affiliate marketing like coupons, price comparisons and cashback platforms, product placement web sites and many more. Various Start-up sites have shown incredible strides in gaining a lot of momentum using affiliate marketing!
There are a variety of benefits of affiliate marketing as well:
- No investment, no risk- With affiliate business, there is no talk of investment. It is entirely based up on volunteering. For a publisher, all he needs to start an affiliate is a web site up and live. And because of this incredibly low cost of start – up, everything will soon become pure profit!
- Operating costs are negligible- Most businesses have an upkeep cost. That is a fact. But when it comes to an affiliate business, your only operating cost is basically your website’s subscription fee for hosting.
- Global Market Place- Since it is an internet based business, there are a lot of factors – factors which would have otherwise costed money – being cut off completely. For example, there is no need for a warehouse, employees or staff. You are attracting a global market, and are not risking any money!
Amazing Affiliate Marketing Models!
Affiliate marketing has suddenly burst on to the scene with the rise of the myriads of online web site based companies and business. It has become one of the most popular monetization techniques for niche publishers and is currently being used by over a hundred thousand different web sites… minimum!
While the rate of success with affiliate marketing is relatively high, there is, however, a small chance that your business might not pick up. So, here are a few sure – shot techniques and strategies to help you earn money through your web site! Employ these and you are sure to do well in your affiliate business.
There are 4 major proven techniques of affiliate marketing. They are:
• Product Review
• Banner Ads
• Product Aggregation
The above screen shot shows an example of coupons being used as a very important and lucrative way of monetizing your web site using affiliate marketing! In fact, coupon – based affiliate marketing is one of the largest forms of affiliate marketing there is. The value proposition of these sites is pretty clear as well. They provide viewers with access to coupons, promo codes and tips which can help them save money. For instance, you can promote paytm coupons and earn hefty commissions for every successful sales. If done correctly, they can be enormously beneficial.
As you can see in the picture above, this is an example of a review blog. Product review web sites are yet another extremely common medium for affiliate marketing businesses. This model is so successful because these web sites are centred around providing users details and information about items which inherently interest the readers. This makes them keep revisiting their web site.
Once you have the user hooked on to your web site, you can slip in the affiliate tie – in pretty easily. The bottom right corner in the image above shows the placement of these affiliate links. This web site is providing advertisement for a holiday gift guide. You can also see the “featured links” section on the left – hand bottom corner of the image as well!
Banner Ads are another very interesting way to implement affiliate marketing into your website. The red box marks a banner advertisement on a web page. The way the owner of the web site earns is that he’ll set up a banner ad for a product or a service. The visitor will then click on this ad if he is interested in the item offered. If the visitor then makes a purchase following the ad displayed on the web page, then the owner will get a cut of the profit.
The last model on the list is the product aggregation model. This is also a very famous technique! You will find a lot of sites that aggregate pricing information and other details on a number of products.
For example, you can find a lot of items, especially electronics on such laptops and mobiles. You can check prices and specs and features on multiple products, and even get affiliate links to dozens of third party sites where the highlighted products can be purchased!
How does Affiliate Marketing work?
The steps to affiliate marketing are really simple. First, a visitor will check out a web site which interests him. This web site will have an embedded affiliate link in it. If the product interests the visitor he can click on the link, which will then lead the buyer to the merchant site. Once the buyer makes the purchase, the owner of the web site will get a commission from the affiliate.
Some very famous shopping portals which are operating in India currently are Flipkart, eBay, Snapdeal and Jabong! They are the leading web sites that currently cater to affiliate links.
In fact, they can give users a commission rate of anywhere between 4 per cent to up to 10 per cent on every product you sell!