Affiliate Marketing and its significance
Affiliate marketing is a marketing technique of earning a commission by promoting different products (mostly online). The owner pays you a commission for traffic generated through you. It’s a process where different parties spread product marketing and each party receives their share of profit according to the contribution.
DIFFERENCE BETWEEN AFFILIATE AND INFLUENCER MARKETING
Influencer marketing is basically focused on individuals such as celebrities, social media personalities, etc, as these individuals have large numbers of followers and have a good reach of content on social media platforms. It focuses on brand exposure through these public figures. Whereas in Affiliate marketing, links of the product are being used to bring the audience to the website of the brand directly. A unique link to the website would be given to each individual, More the customer visits through your link more is the commission you’ll get.
IMPACT OF AFFILIATE MARKETING ON BRANDING
Affiliate marketing is proved to be a successful marketing technique. As a retailer, you have a choice to pick who you want to work with. There are chances to gain targeted by working with experienced affiliates who understand the industry and are active in it. While working with experienced affiliates, your connections and social community is also broadening, which helps you to reach out to big industry leaders.
With affiliate marketing, you only have to pay when a sale is made, so the affiliate has to attract paying customers, and then only they will get their commission. Affiliate marketing is a low-risk form of marketing as the retailer only has to pay for the performance rather than the clicks on the link, so it won’t affect the budget too.
It provides equal opportunities for all companies, whether it is a start-up or a well-established brand. Also, Starting affiliate marketing is cost-effective as compared to buying advertising and employing staff. It also allows companies to increase exposure to new audiences you haven’t heard of them previously.
Affiliate marketing can improve your SEO profile too because of the number of traffic on your website via your affiliates' social pages and advertising.
If your products can be marketed globally, affiliate marketing is an efficient way to do so. With international professional affiliates, you can market your products strategically.
One should never depend on one form of marketing if it fails by any chance the business could collapse. One can use affiliate marketing alongside some other kind of marketing to protect the business just in case.
AFFILIATE MARKETING DURING LOCKDOWN
Some of the retailers don’t see any change due to lockdown in their advertising performance, some of them cut off the budgets completely, while some are increasing their advertising hoping to get a huge profit. According to me, it depends upon the type of product retailers are selling. Sectors like the automobile industry won’t be able to gain any profit even through advertising because of the financial crisis.
There are some other factors too that affect affiliate marketing like shutdowns of factories and plants of different industries like Apple experienced a shortage of its iPhone products. Even if COVID-19 slows down, it will take a lot of time for businesses to cover up their losses.
Most of the businesses are facing a great decline in organic traffic. But on the other hand, there are some businesses like insurance,work-from-home, etc that will fly high. Online search trend is also changing and demand for medical supplies and common household items are spiking.
New companies have opportunities to expose themselves as brands are spending less on advertising at the time of lockdown.
Despite all these arguments, the future of E-commerce after lockdown is not clear. On one hand, online sales could go up as people are in lockdown and aren’t able to go for shopping, and on the other hand, advertising and online sales are dropping, some people are finding it convenient to go for online shopping while some are avoiding it to avoid human contact!
Contributed By- Abhishek Bhardwaj, Content Writer @ Mitti Ke Rang
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