What is Affiliate Marketing?
Affiliate Marketing is a revenue sharing venture between two businesses. Business one (your business) pays business 2 (your affi liates) for sending new customers to your site. An example is having your affi liate host your ad on their website. When potential customers fi nd your business through the affi liate site, you pay the affi liate money. The affi liate benefi ts by being paid to host your ad, and your business benefi ts by acquiring potential new customers. It is often one of the more cost effective channels since you only pay when a successful transaction happens. Affi liate programs are ideal for businesses that are trying to get new customers. In as little as six months to a year, you can have hundreds of affi liates marketing your products or services, often at a lower customer acquisition cost than other channels of online advertising.
Affiliate Networks
If this is your fi rst affi liate program, you may want to consider working with an affi liate network. Affi liate networks connect advertisers and publishers who can drive traffi c to your website. Additionally they provide tracking, reporting and handle all affi liate payments. With new programs, affi liates often feel more comfortable working through networks. There tends to be more confi dence in tracking methods, as well as faith they will be paid in a timely manner. A downside to joining a network is the upfront costs, which vary from $575 to $6000. We have listed an overview of some popular affi liate networks.
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