The year 2020 has brought a whole new outlook in many ways than one can imagine. On the one hand, the tech world is rapidly moving ahead with exciting technologies like Artificial Intelligence, Edge Computing, Blockchain, and whatnot. On the other side, most of us are still stuck with our monotonous 9-5 jobs with zero to no passion for it.
But it’s never too late to dive into new possibilities, and Affiliate Marketing is that chance you should take. Affiliate marketing is as easy as your enthusiasm to learn and implement it. In simple words, it is the process where you can earn a commission by promoting someone else’s services or products via any medium. The higher the sales, the higher your commission. It is like any other side gig, which needs the least of your time and effort if one may say. But this side gig will help you gain big.
We are sure many of you must have felt connected to the reality and growth possibilities that Affiliate Marketing has to offer. We are also aware that you have various queries and questions in your mind in regards to Affiliate Marketing, its past, present, and future.
Is Affiliate Marketing Similar to Referral Program?
Don’t get confused between the Referral Program and Affiliate Marketing.
There is no doubt; in fact, both the programs have the same ring to it, but in reality, they are poles apart in terms of revenue or ultimate compensation.
In the Referral Program, the present clients or user gets inducement each time a family or friend effectively joins.
The critical associate of the referral program is the customer. The rewards one receives are generally a one-time discount, gift cards, or maybe upgrade of services.
But in Affiliate Marketing, the ball is always on the side of the marketer. The Affiliate Marketing rewards are in the form of cash or a specific percentage of the overall sale. In some cases, this incentive can be a one-time amount of the entire purchase or a recurring interest of a monthly subscription.
Payment formation of Affiliate Marketing
All affiliate marketing styles are different. After in-depth research and study, we have divided these into three categories. Which payment structure will suit which scenario is the personal preference of the vendor and affiliate.
This is one of the most common methods in which the affiliate will get paid on every successful sale, which is made via the link shared by them. The percentage usually ranges from 1% to 10% and might vary.
For example, a middle school teacher wants to buy a new vinyl cutter for their class. A search engine will give them a list of sites that have analyzed the market and compiled a list of the most popular products among all the available ones. In future, the company will receive a commission from each product’s price in the user’s cart, in case the user clicked on a link leading from this site to the trading platform.
An affiliate will get paid for every converted customer who will visit the vendor’s website and take the required action. It can be anything from signing up for mailers list or a free trial.
This is the old school method where the affiliate will be paid a flat rate for every customer redirected to the vendor’s website. This means the performance is rated based on increased web traffic.
To explain it better, we have divided the procedure into a few simple steps:
i) Find a product or service that you like and can market.
ii) Promote that product or service in and out with your audience and urge them to buy it.
iii) You will get a unique affiliate link through which you can track the traffic and the successful orders made.
iv) If you get lucky, you will receive profit made from each sale that you refer to.
Did we motivate you to join Affiliate Marketing?
Here are a few things it has to offer in 2020
Affiliate marketing has a bright future for those who strive to innovate and lookout for new opportunities every now and then. You can quickly be rewarded with significant gains and possibilities. But if you fail to get along with the market trends, you need to pull up your socks. And as non-compliance is getting popular day by day, most of the affiliates are trying and testing out of the box approach and searching for untouched markets that have very few advertisers.
If you want to know what’s the Affiliate trend in 2020 and out of those which ones are dominating, read on!
Here are the Top Benefits Of Affiliate Marketing In 2020
i) It allows you to earn big while you are at your mainstream job:
Everyone wants to have a steady life, and that can be achieved by having a regular job. But having extra income in your kitty never hurts anyone. Affiliate Marketing will let you have that. If you hit the right notes of the affiliate world, you can earn while you are sleeping. Honestly!
ii) It is excellent for boosting new product and services:
Gone are the days when big companies used to hire A-list celebrities or sports personnel for brand awareness or reputation campaigns. The tables have turned clear as those companies are now actively looking for trusted, valuable affiliates and bloggers to do the job. To build an effective online presence, brands connect with members who have multiple or niche audiences and can market their products with their habitual visitor base.
iii) Affiliate is a win-win situation for both the side:
There are very few marketing strategies that have an end-to-end value to it, and affiliate marketing is one of them. The model is simple; the business will pay to the marketer once the sale is made. This will help in obtaining a better return on investment.
iv) Most cost-effective strategy:
In previous times, it used to be quite difficult for growing companies to promote and market on a large scale and the correct audience. But thankfully, the times have changed. The CallHippo affiliate program is one of the best and most reliable platforms in the field and has a fast-growing pool of loyal brand ambassadors. Affiliate marketing is a direct marketing option that is very cost-effective and fruitful. The brand will only pay once there is a successful conversion.
v) Escalates website traffic to new scales:
The affiliate links can be used to increase referral traffic page navigations and product searches as well. The more new websites link to your sites, the more are the chances to convert that user into paying customers. This helps in boosting the ranks and to drive online traffic to different websites.
Here are a few interesting facts about Affiliate Marketing
i) It is said that Affiliate programs are capable of generating up to 30% sales on an average for advertisers.
ii) According to a survey, at least 35% of affiliates earn nearly $20,000 or more.
iii) Most of the affiliate traffic is generated from mobile devices.
iv) Amazon affiliate program is the biggest and most successful online program in the world, with over 900,000 members and more.