An affiliate program is a popular way for a company to expand its customer base. Participation in it is a way for people who want to earn extra income.
An affiliate program can also become the main source of income. Everything depends on its type, the size of the affiliate reward and the terms of participation.
In this article, we will tell you what an affiliate program is and what partners are paid for. We will give examples and see how much you can earn on affiliate programs.
What is an affiliate program?
In the article about applications for earning , we have already touched on the topic of affiliate programs. Here we will examine the basic concepts and types of affiliate programs in more detail.
An affiliate program is a company’s marketing tool for attracting new clients and increasing sales.
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Within the framework of the affiliate program, the company offers the partner (an individual or another organization) to promote its services, goods. The partner receives a reward for this. This can be a fixed amount, a percentage of the cost of the product or a percentage of the profit.
Many companies now have their own affiliate programs, because this is a mutually beneficial cooperation.
Benefits for the affiliate program initiator:
- increasing the customer base;
- savings on product promotion;
- expanding the company’s influence in the market;
- increasing brand awareness;
- a way to reach a new audience.
The amount of reward depends on the terms of the affiliate program.
A referral program is often synonymous with an affiliate program. Affiliates use such elements as referral links. But referral programs are more likely to be bonus or loyalty programs. A partner can receive not only money. Often the reward is some points or discounts for the referral.
Affiliate and referral programs are created for one purpose – to expand the customer base. Let’s note a few differences:
- Participants in the referral program are the company’s clients. To promote a product in the affiliate program, you do not necessarily have to be a client or use it at all.
- In a referral program, the referrer receives money for a new client. In an affiliate program, the reward will be received only after a transaction is completed with this client.
Companies use both definitions to describe a mutually beneficial form of cooperation and product promotion.
Basic terms
Like any comprehensive concept, an affiliate program has its own terms. Let’s list the main ones:
- An affiliate is a partner who promotes a product.
- Offer — a proposal, product, or service of a company. One company and its affiliate program may have several offers.
- Vertical — a niche to which the program belongs. For example, affiliate programs of online stores are product affiliates, and banks are financial ones.
- Lead is a client who came from a partner, or a user who performed the required action.
How to make money on affiliate programs?
There are different ways to make money with affiliate programs.
1. If you have your own promoted resource, blog or website with a good amount of traffic, then you can use affiliate programs to monetize your website or blog. This option is suitable for bloggers or webmasters.
The partner places affiliate links on their resource and receives a percentage of each sale, registration or simply click on the link. Many affiliate programs provide ready-made banners, widgets and other creatives for their partners.
2. If you don’t have your own website and don’t advertising material want to participate in the referral program, you can use affiliate programs for traffic arbitrage. That is, you buy traffic and send it to affiliate program offers. To buy traffic, you need initial investments, this method of earning requires experience.
Thus, the traffic sources in the affiliate program are:
- blogs on social networks;
- websites;
- contextual advertising;
- teaser advertising;
- e-mail newsletters;
- targeted advertising in social networks;
- advertising in messengers, for example, in the Telegram channel.
3. In addition to the link, affiliate programs may offer you to leave contacts of potential clients in the affiliate program personal account. You need to attract new clients for the company, and these can be your friends and acquaintances. As a rule, in such programs, the partner receives a percentage of the purchase or transaction.
Types of affiliate programs or what you can get a reward for
The affiliate program allows you to earn money on various user actions. It all depends on what action you are paid for. Here are the most common examples.
Payment per sale
The reward will be paid to the partner when the user buys ng number the company’s product. The user can buy the product on the recommendation of the partner, for example, the partner left the contacts of a potential client – his friend. Or the client followed the link left by the program partner in his blog.
Pay per action
Here you can receive a reward for a certain user action, according to the terms of the affiliate program. In addition to a purchase, this can be registration or file download.
Pay per click
With this approach, the affiliate program implies payments of money for each click on the link. The user’s further actions are not important.
