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Affiliate marketing is an online marketing practice in which a business rewards one or more affiliates for each customer brought about by the affiliate’s marketing efforts. For example, if an online store offers a commission for each sale made through an affiliate link to the company’s products, then that store has an affiliate program.
Affiliate programs are managed through various networks and platforms like ClickBank, CJ Affiliate by Conversant, Rakuten Marketing, Shareasale, and Avantlink.
An affiliate marketer earns money when their referrals result in a purchase or signup for a program. This could be a product purchase from an ecommerce website or enrollment into a subscription service like Netflix or Disney+. There are many forms of remuneration such as commissions on sales volume, form submissions and signups, pay-per-click (PPC), cost per thousand impressions (CPM), or cost per action (CPA).
One key benefit of affiliate marketing is that it increases exposure and traffic to your website at minimal cost since all you need to do is add one line of code to your website. Furthermore, affiliates can spread brand awareness for you while delivering quality leads and conversions directly to your business. The most successful affiliates often have their own blogs where they share their reviews and experiences with different products or services.
In summary, affiliate marketing is an effective way to bring more customers and revenue to your business while also allowing partners to earn commissions on each referral they make. It’s easy to set up and manage once you find the right partners with carefully crafted campaigns designed to reach your target audience.
Read more about affiliate marketing in B2B.
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