What Exactly is Affiliate Marketing?

bykeishalina

6.8K followers

4 years ago

hey hi Wealthy Affiliate WArriors and ones looking for definitions of what is exactly Affiliate Marketing.

In recent days, we've noticed that there have been the occasional question by new starters and some members alike as to what is affiliate marketing --- what is it exactly? . . .

Well, this post aims to have a look at the varying definitions of affiliate marketing and what it may mean for Wealthy Affiliate members in particular and for discussion purposes here on this awesome platform for everyone's learning & understanding in simplicity & clarity, hopefully!

One of the biggest reasons to really have a more serious look at affiliate marketing is that according to Statista, business spending on affiliate marketing is forecasted to graze $8.2 billion in the U.S by 2022. That's only two years away!

By starting today, you can put yourself into a favorable position to enjoy utility of a piece of the multi-billion dollar pie.

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Ok, let's all go to get a look at what others have had to say, in their opinion, of what affiliate marketing is exactly:

Neil Patel states that Affiliate marketing is earning a commission by promoting other people's (or company's) products (found in affiliate programs). You research & find a product you like, promo it to others and then earn a piece of the profit for each sale that you make.

Wikipedia highlights that Affiliate marketing is a type of performance-based marketing where a business rewards one or more affiliates for each visitor or customer brought in by the affiliate's own marketing efforts much like referrals for instance.

Hubspot indicates that an affiliate program is a type of agreement in which a business paysanother business or influencer or rather "the affiliate" a commission (morsel of pie) for sending traffic and/or sales their way -- interesting concept.

Shopify defines Affiliate marketing as a performance-based marketing program, where an external partner (or more commonly known as an affiliate) is rewarded a commission for delivering a particular result to a merchant or advertiser. The result is often a valid transacted sale, and, it can also be a completed lead form, a new free trial user, or even a new newsletter subscriber.


Which one did you like the best? ...

Which one might apply to the Wealthy Affiliate program here? ...

Personally, I like what Neil Patel has to say and also what Hubspot has indicated as their meaning of what affiliate marketing is as a good descriptor.

Moreover, I like Shopify's examples as to different tools such as a newsletter subscriber, free trial, and a completed lead form ... creative ideas and thoughtful helps as follow through with buyers .... excellent forms of marketing ideas and for engaging an interested audience in making purchases. They must have a super marketing team.

Keeping in mind, that the online shopping world is growing by leaps and bounds! ...

... and it is quickly becoming a gazillion dollar business ---

---- it really should encourage all of us to want to consider of the best WAy to enjoy a wee taste or perhaps, a big huge chomp of the PIE! ... lol ...

Enjoy it all! ... and hope you've found this post helpful in defining what exactly is affiliate marketing ...

now what was that definition again?

ah yes, the ol' repeat, rinse, repeat formula OR is it rinse, repeat, rinse? ....

keep well, stay safe ... health & wealth for all ...

all the best to YOU for every Success, cheerio ...

thanks kindly for reading this post & for all your replies, cosmic comments or pie slices are all welcome here in the reply box ...