Affiliate marketing is one way to ensure the money is coming in, even while you’re away from your computer. Whether you create a website, make YouTube videos or build an audience on social media, you can use affiliate marketing to monetize your content. With affiliate marketing spending projected to reach $15 billion by 2028, it’s clear that this strategy is gaining serious momentum and continues to be a lucrative option for creators and businesses alike.
This introductory guide to affiliate marketing will teach you everything you need to know to get started, from its benefits to affiliate marketing trends, examples and best practices from Wix users.
How does affiliate marketing work?
To better understand how this type of marketing works, you'll need to know about the three major players involved: sellers, affiliates and consumers. Together, these three parties make up the affiliate marketing ecosystem.
1.Sellers
The seller is the company that makes or provides the product. This could be a nationwide franchise like Best Buy or a small independent shop. The number of sellers is constantly growing. In a recent Rakuten survey, 80% of brands said they ran an affiliate program as part of their brand marketing efforts.
2.Affiliates
Most people get involved in affiliate marketing by becoming an affiliate. The affiliate, also known as the publisher, promotes the seller's products on their own platforms, such as a personal blog or social media page.
3.Consumers
These are the buyers of the product. When they make a purchase when clicking on the affiliate link, the affiliate earns a commission on the sale.
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