How to Use Affiliate Marketing to Grow Your Business?

Affiliate Marketing holds huge benefits for eCommerce store owners to promote their products and services. This is one of the few strategies that comprise extremely low risk and high rewards. 

In affiliate marketing, you only need to pay to affiliates when they convert customers, not for driving them into your website. This is a popular strategy that many big brands are following to drive sales and generate significant online revenue. Notably beneficial to both brands and affiliate marketers. 

“As of 2016, 81% of brands and 84% of publishers leverage Affiliate Marketing”.

If you have not considered affiliate marketing yet, it’s time to consider taking the benefit of this profitable revenue stream. In this guide, you’ll learn how to get started with affiliate marketing but before discussing anything, let’s discuss What Is Affiliate Marketing?

Affiliate marketing is an online selling strategy that lets a store owner increase sales by allowing Affiliate to promote their product and services to the same audience. In this process, “Affiliate” earns a commission by recommending the product to others. Additionally, it makes it feasible for affiliates to earn money on product sales without buying for their own.

In simple words, in Affiliate marketing, Affiliates promote a product or service by sharing it on their blog, social media platforms, or website. When a shopper buys the product through the unique link associated with their recommendation, the affiliate earns a commission.

As affiliate marketing involves expanding the responsibilities of product marketing and creation across Affiliates, it manages the type of individuals for a more powerful marketing strategy while providing contributors with a share of the profit. To make all this work, three different parties must be involved collaboratively i.e

• Seller
• Affiliates 
• Consumers

These are essential pillars of affiliate marketing. Let’s discuss how these three parties collaborate effectively to ensure affiliate marketing success.

#Seller (who want to market his/her products/services)

The seller, whether an individual owns a small business or large enterprise, is a merchant, who wants to market its store’s product and services. The product can be a physical object, like clothes, beauty cosmetics, household goods, or a service, like an eCommerce affiliate marketing platform.

For example, the seller could be an eCommerce store owner that started a baby clothes business and wants to reach a new audience by paying affiliate websites to promote their products. Or the seller could be a SaaS-based eCommerce company that leverages affiliates to help sell their marketing software.

#The affiliate(Influencer that will help you promote your products/services)

The affiliate also known as an influencer can be either an individual or a company that helps sellers to market their product/service in a tempting way to potential customers. These affiliates promote the product to influence consumers that it is valuable or beneficial to them and persuade them to purchase the product. If the consumer does not buy the product, the affiliate does not receive any commission or receive a portion of the revenue made based on the seller’s terms and conditions.

Affiliates usually have a very targeted audience to whom they market, generally, market products and services based on the audience’s interests. This creates a defined niche or personal brand that helps the affiliate entice consumers who will be most likely to act on the promotion.

#The consumer (who actually buy the products and services)

Consumers are the drivers of affiliate marketing. These are the ones who buy products that Affiliates share with them through their social media channels, blogs, and websites.

When consumers buy the product, the seller and the affiliate share the profits. Only when consumers complete the purchase, the affiliate gets the full commission.

Affiliate marketing is built on trust, your audience trusts you that why they buy products because you recommended them. No matter how many products or services you get to promote, it’s best to only highlight those you personally use or would recommend. 

AiTrillion’s affiliate programs help you to effectively stimulate sales from alternative channels. It allows affiliates to promote products and services in various ways and give access to detailed stats reports to track overall commissions.

With AiTrillion, Affiliate can:

• Launch affiliate programs based on cart price rules
• Set a specific commission type for each program
• Configure discounts and payout requirements
• Use a variety of promo materials
• Manage affiliate accounts and transactions
• Mobile optimized frontend

Affiliate marketing for Shopify stores is a trendy solution for ecommerce store owners who are looking to market their products and services at an effective cost. This budget-friendly and win-win strategy help store owners.  

“According to the source, the U.S. affiliate marketing spend is expected to reach 8.2 billion U.S. dollars by 2022, up from 5.4 billion recorded in 2017”.

Affiliate marketing can be an excellent way to build more stimulating relationships with customers and other companies that you admire within your product niche. From these people, you can gain helpful insights into customer experiences encompassing your products and learn new maneuverings for growing your business. This is some basic information for how to start affiliate marketing. Now, it’s time to try it out for yourself. We’re sure that once you get the hang of it, you’ll come to understand that there are huge opportunities when it comes to making the most out of this profitable marketing model.