So what is Affiliate Marketing? It has been used by Advertisers for years, as another method for increasing the sales on their website, but what does it involve? Affiliate Marketing is the process of reaching more customers through ‘Affiliates’, promoting on behalf of that brand. Affiliate Marketing with WOW Trk is risk free, because Advertisers only pay when they see results, this is why it’s sometimes referred to as ‘Performance Marketing’. This avenue is also an attractive monetisation option for many website owners, bloggers, or social media influencers, since they are are paid a commission as an Affiliate, for generating leads or sales, on behalf of the Advertiser.
Who’s Involved ? – A Closer Look
There are typically three groups involved in the process of Affiliate Marketing:
The Advertiser – This is a business who sells a product or service and wants to reach more relevant customers online. They want to see more people visiting their website and taking action, such as purchasing a product or registering for a service.
The Affiliate – This is usually a website owner, or marketer who wants to monetise the traffic or data they already have. The Publisher (Affiliate) will promote the Advertiser’s products or services through different methods, such as blog posts, social media, or email marketing and earn a commission for delivering leads or sales.
The Affiliate Network – WOW Trk is an example of an Affiliate Network, who connects Advertisers with Affiliates looking to promote their brand. WOW Trk provide high quality tracking solutions, so that when a sale or lead is generated, the network can assign the correct commission to the correct Affiliate.
Types of Affiliate Commissions
Since some businesses sell products and some deliver services, the desired goals of every Advertiser is different. Because of this, the types of offers an Affiliate can promote varies depending on the goal for example a long formed loan offer in the UK to a short formed free online pokies offer in Australia.
Cost Per Lead (CPL) – This type of offer typically pays an Affiliate a set amount for every lead that is generated. A lead could be generated when contact details have been submitted by a potential customer, or when a person signs up to receive a newsletter.
Cost Per Sale (CPS) – This type of Affiliate offer pays a commission based on every sale, for example, 10% of the value of any sales.
Hopefully you can now answer the question ‘What is Affiliate Marketing’? and understand exactly how you fit into the equation. If you are an Advertiser looking to expand your business, or an Affiliate hoping to generate an income online, please get in touch with one of the team at WOW Trk and we can guide you through the sign-up process.