What is Affiliate Marketing and How Does it work?
I like to begin topics that delve deeper into more specific nuances of affiliate marketing by giving you a simple definition and description of affiliate marketing.
It is a very simple concept. It is like telling a friend about a great movie you saw and how much you enjoyed it, and that knowing you as I do, I think you would like it too. The only difference in the business model is that you are not actual friends (although you do develop relationships with folks who read your recommendations). You do this online via the internet, and you get paid if they go and see the movie.
I used movies as an example, but you can substitute any physical or digital product or service you can imagine or create. We use a hyperlink to guide individuals to that product or service.
If they decide they would like to purchase the product or service you have shared with them via the hyperlink, you are paid a commission from the company that owns it.
Yes, the concept of affiliate marketing is that simple, but to execute it, not so much. As a result, there are countless courses and supposed Gurus on the Internet, teaching you how to do this stuff. Of course, there are also many ways to go about doing affiliate marketing which complicates the process even further. Hence, the first thing we have to do is explain the different types of affiliate marketing.
What are the Different Types of Affiliate Marketing?
There are endless ways to do affiliate marketing and just as many nuances to each method as you can see in the image below, so considering this post is directed to beginners finding the best affiliate marketing program.