The principle of affiliate marketing is that you agree with a partner who promotes your e-shop on their website or with their customers or acquaintances. In the event that a customer brought to your e-shop by your partner places an order or visits a URL you define, you will pay the partner a pre-agreed financial reward. It can be a fixed amount or a certain percentage of the completed order.
At first glance, it is known that this is a very interesting relationship, which can only benefit both parties. This is often the case, but each coin has two sides. And it’s no different with affiliate marketing.
The biggest advantage is the very high security in terms of cost. If it doesn’t work out, you don’t sell anything, but you don’t even pay for marketing. Advertising from partners on their sites is free, they promote you all the time, and only when they make a purchase is they rewarded. Due to the low level of risk, affiliate marketing is great for expanding into new markets. International marketing can be very expensive, but affiliate marketing gives you access to new customers without having to spend unnecessary funds. To learn about it you can make use of the Evergreen Wealth Formula. At the same time, you will also need to know about How to spot fake reviews online so you don’t get scammed as well.
The Right Process
You don’t usually have to make any large investments in affiliate marketing at the beginning or later. You only create documents based on the generated links or discount codes, which you pass on to your partners. Obviously, the discount code is a hidden expense, but you can cleverly set it so that the customer only gets a discount if they spend a certain amount on the total purchase or buy a specific product that you specify.
- You create an affiliate campaign and it requires only minimal administration and control. The related promotion is primarily up to your partner, because until he can get you an order, he will not receive any reward.
- Thanks to the fact that your e-shop is promoted by various partners, you gain access to customers who might not know about you at all. Even if the order is not placed, the brand is still being built.
- You have data! You get not only new orders, but also very useful information. You know where customers and site visitors come from and what they pay for them (how the partner gets them). You can then use it for your other marketing activities.
- Affiliate marketing is a powerful tool that brings a number of huge advantages, but of course also certain disadvantages. However, by working with your partners, you can keep disadvantages to an absolute minimum.
If you want to try affiliate marketing, there is nothing easier than setting up a partner in EWF and creating a campaign for him. If you need more information, you can find it in the previous article, where we focused on preparing an affiliate campaign.