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Affiliate Marketing Definition in My Own Terms

April 12, 2012 | Comments: 0 | Views: 140

So bear with me as I lay out an affiliate marketing definition in my own terms. I'm new to this business and have so much to learn, and I'll be completely honest in saying that this is something I never would have envisioned myself pursuing. It's a complete contrast to my work history. But it's really energizing to learn something new and especially to learn something new that has the potential to lead me to financial freedom. So if you've "caught the bug" and are curious and want to learn a bit more about affiliate marketing, I'll do my best to shine some light on it.

The concept of affiliate marketing has been around since the late 1980's. The basic model contains four key players. First, there is the merchant or retailer with the product or service that you choose to promote. Second, there is the network that serves as the connection between the merchant and you, the affiliate. This player has a link that is distinctly yours and allows them to track from where a sale is generated and makes sure that you get paid for your work. Third, there is the publisher or affiliate, that's you. You will be writing about your opinions, tips and first-hand knowledge of your product or service of choice. Fourth, is the customer whose interest is peaked by your written word and desires to make a purchase.

There are different approaches to get your affiliate marketing business up and running. You'll need to decide what you want to sell. There are large established affiliate networks out there that have a list of hundreds of advertisers providing all kinds of products and services to get you connected. Another option is to go right to the retailer's website that you wish to promote and see if they provide their own affiliate program. With the two prior options, you'll be choosing for yourself what you think customers would want and need. These will require research. Another option is to align with a company that has their own list of affiliate links that they have already researched and find to be of good quality and are in-demand. The choice is up to you.

How do I get paid? You were just waiting for this weren't you? I want to remind you that affiliate marketing is not a get rich quick kind of business. It's going to take time and effort on your part to get this up and rolling and to keep earning. Two compensation methods are cost per click and cost per mile. In cost per mile, you are paid for having a retailer's ad on your website, and cost per click takes it a step further and compensates you when said customer clicks on the ad. These forms have been diminishing over time. The most common form today is cost per action or sale. With this method, an actual sale needs to be completed. Returns will affect your compensation. A bit more challenging, but far more rewarding when that sale is in place.

Hope this affiliate marketing definition in my own terms serves to enlighten you and helps you decide whether or not this is the right avenue for you. I've tried to simplify it a bit by explaining the basic concept of affiliate marketing, spelling out the key players involved, describing a couple of different ways to get started and covering the main compensation methods. My goal here was to familiarize you with the basic business format of affiliate marketing and I hope that I succeeded.

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Source: EzineArticles
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