Today, Affiliate marketing is one of the fastest-growing industries in the world. It has seeped into nearly every branch of business, offering a new way to promote brands, earn passive income, and go mainstream.
By definition, affiliate marketing is a performance-based business in which revenue is generated by independent marketers called affiliates who earn fix commission paid only when sales are made, leads are confirmed, or any qualified action takes place.
Read Also: How to Start Affiliate Marketing in India?
This is one of the easiest online business models to start earning passive income online. This is low-cost, high-profit industry. There are several reasons why affiliate marketing is very popular among individuals and companies. Here are some of the best benefits of affiliate marketing in India in 2020, go through them and know how you can start a new business or grow your already established business whether you are a merchant or an affiliate marketer.
12 Top Benefits of Affiliate Marketing
Passive Income Source
The strong reason that makes affiliate marketing an ideal option is getting a passive income. Yes, you heard it right. Affiliate marketing allows you to make a passive income means to earn money while you sleep.
This sounds quite fantastic that you wake up in the morning, start your laptop and just find additional revenue in your account, this fruits of your hard work.
One can make affiliate marketing a great source of passive income after getting a deeper understanding of what affiliate marketing is all about.
Low-cost Business Opportunity
Do you wish to start your own business but could not save enough to invest your money? Affiliate marketing is the answer to your problem.
This is one of the best benefits of affiliate marketing that there is no barrier to join; besides it does not need a lot of investments. Compared to other business ventures, you literally do not need to have a huge capital on hand. All you need to have is electricity and internet connectivity.
Having previous knowledge in building a blog or a website is a plus. The awesome part about blogging is you can use to promote your affiliate products either through ads or targeted content.
Technical knowledge is not compulsory though. Some people are doing affiliate marketing without a blog. You can easily do this by sending traffic directly to affiliate others.
No Expertise Required
In order to grow and earn from affiliate marketing, you do not need to be a marketing expert right away. The best part about affiliate marketing is that you can learn along the way, testing different organic or paid campaigns.
Also, there are various ways to run and manage an affiliate marketing program. You can easily leverage any of your marketing experience gained before and try to find what performs best and brings the most profits. Then optimize and repeat the same pattern to get the expected output.
Wide Range of Products
If you have used affiliate marketing earlier, you might know that big eCommerce companies have the widest possible range of products. A giant eCommerce brand cannot promote each of these because of the sheer number. This drawback of big e-commerce companies provides your opportunity to find a niche and get revenue through affiliate marketing.
You can select any niches as per your interest and previous experience. Another awesome benefit of affiliate marketing that you get the latest products coming on board almost every day. Means, you will never sort of things to promote through affiliate marketing.
The flexibility of marketing your working environment on your own and according to your will is also a strong incentive. Whether this is in the Bahamas or a picturesque Italian village- you can decide where your office is located. You can work everywhere as long as you have, obviously, an Internet connection.
Also, the bureaucracy is limited. As a freelancer, you do not need to follow any company’s rule or manage other people from a team that also get problematic to handle at times. Also, you do not have to take stress about company relations because this is only you and yours who sets all the rules, decides about proper dress code and other small kinds of stuff.
Lucrative and Far-reaching Industry
Affiliate marketing as a whole is a billion-dollar industry. In such a wide field, this is quite easy to look for products that you can actually use, belief in and all honesty promote to your audience.
That kind of involve affiliate marketing, where you have failed in what you promote has been tested and proven to produce the best results mainly commission-wise.
Like other types of digital marketing strategies, like website creation and email marketing, one of the best benefits of affiliate marketing is the fact that it can be tracked easily.
Affiliate programs often allow you to see certain things like click-through rates or views of your website as a result of a customer having viewed an affiliate web page. It is a major part of creating an effective and result-oriented affiliate marketing strategy as it allows you to see which affiliate work and which do not. Besides, it may also tell you how you are performing on the various affiliate sites with different marketing tools as through a banner ad or a link placement.
This is perhaps the biggest benefit of affiliate marketing because the merchant only has to pay a commission for the sales that affiliate drives. Apart from this, there are no advertising costs. Here, promotion is the responsibility of affiliates and they bear the costs of advertising and marketing.
So this is easier to control costs and merchants can set a pay-per-sale rate that is affordable for the business. If you are a merchant and you sign up with an affiliate network such as Commission Junction, all billing and payments are maintained by the network and that saves you a lot of time and money also.
Affiliate marketing helps merchant’s sites appear higher and more often in the Search Engine Results Page (SERPs) in two main ways. First of all, you get many backlinks to your site from affiliate publishers who place links on their sites to yours and it enhances your rankings in the search results. Here, each backlink works as a vote for your website; and the more vote you get the better you rank.
Second thing, for affiliates that use pay per click advertising to advertise your brand or products, you will appear for more searches mainly for those searches that you have not found earlier.
Create some rules in advance that prevent affiliates from bidding on your brand name, domain name and any close variants.
Multiple Revenue Streams
Okay, this is one of the best benefits of affiliate marketing that provides you with multiple revenue streams. No one says you need to limit yourself to merely one affiliate. You can implement the same affiliate marketing strategy on multiple websites to boost your earning opportunities. More than 70% of publishers are utilizing it.
Sales and Special Offers
Many companies often launch sales and special offers, which allows you to utilize the seasonal rush of the online shopper. In the present digital platforms, people read reviews online before they make a purchase. And when you get an honest review with an affiliate link during special sales and offers, you can get more clients.
With the affiliate marketing dashboard, you can create ads and affiliate links that match the sales and promotions. It makes your marketing more attractive for people who visit your blog, website or social media page to place an order.
These days, many affiliate marketers promote their links through mobile apps. It allows people on the move to read content, take a swift decision and at last-place order easily.
The Sky’s the Limit
There are various ways to market your affiliate programs. You can build an affiliate blog and publish content on a regular basis about a given niche, come up with affiliate emails or create PPC campaigns. You can even take advantage of social media and platforms such as Quora to market to your affiliate products.
Additionally, you can combine all your organic and paid marketing activities into a cross-channel campaign if this suits you best.
Additional Benefit of Affiliate Marketing
Apart from so many benefits of affiliate marketing, many big eCommerce companies also have referral regards for affiliate marketers. It means you can refer a relative or friend to join the affiliate marketing platform. And when they record their first affiliate sale, you get some monetary benefit from the big company.
This pay does not affect the profit or earnings of the person you refer to. Besides, all giant companies encourage affiliate marketers to refer people to join in, as part of their marketing strategy.
Do you need support for understanding the basic of affiliate marketing, check our post on What is Affiliate Marketing and How does it Work?
Final Words on Benefits of Affiliate Marketing
Affiliate marketing can be very effective, low-risk investment to help expand your marketing efforts beyond a small business’ traditional bandwidth. With the benefits of affiliate marketing listed here. It is almost always worth the investment and can take your online business to new heights.
You May Like: 10+ Upcoming Business Ideas In India.
Are you already using affiliate marketing for your business? How is your overall experience? Feel free to reach out in the comment section below with any questions or doubts. We will be happy to hear from you.
Get all our latest updates in your inbox, subscribe to The CEO Magazine right.