With affiliate marketing, businesses can enlist people or companies to promote their products or … [+] services.
There isn’t one right way to do marketing. The more I’ve dabbled in marketing, the more I’ve realized it’s a bottomless pit of possibilities. I also noticed the value of affiliate marketing, something 80% of brands use. There’s a reason it’s so popular.
TikTok, Instagram, and similar social media platforms have become gospel for consumers. Whatever they’re selling, we want it. “TikTok made me buy it!” isn’t just a cutesy phrase. It’s the truth. As consumers, we want what we’re reading about in product reviews and what the social media influencers are promoting, even if it’s from a no-name you’ve never heard of.
That’s affiliate marketing for small business.
What Is Affiliate Marketing For Small Business?
Have you ever read an article with some disclaimer like, We may receive a commission from affiliate partner links? If you have, you’ve seen affiliate marketing in action. The brand that the article mentions is paying those commissions.
Affiliate marketing is a marketing strategy where a business enlists people or companies to promote their products or services. The person or company promoting your business is known as an affiliate. Affiliates can mention your business on their websites, social media profiles, and emails. They can write articles, make videos, or post display ads encouraging consumers to buy from you.
When a consumer clicks the affiliate’s special link and becomes a business customer, the business pays the affiliate commissions.
Ka-ching for the affiliates, yes. But also ka-ching for the small business with the new customer. And here’s one of the best perks of affiliate marketing—in most cases, you only pay the affiliate after you get a new customer.
Benefits Of Affiliate Marketing
Affiliate marketing is a multi-billion dollar industry. In 2023, the market value of affiliate marketing…