Tag: affiliate marketing

MARKETING AND ITS TYPES

Marketing is any activity undertaken by an individual or a firm consisting of a set of processes such as creation, communication, delivery, and exchange of goods or services that have value to the clients, customers and the society as a whole. Pursuits such as conceptualization, promotion and exchange of ideas aid in satisfying the needs of the clientele. Marketing of an existing or new product or service is essential for mass awareness, maintaining brand credibility, building trust among the buyers and ultimately to increase sales. Marketing can be done through varied methods as per the requirements and convenience of a firm.

TRADITIONAL MARKETING

It is among the oldest marketing strategies followed across the world. The success rate in this type of a marketing strategy is higher as it has been tried and tested for a number of years. This includes all offline marketing strategies which help to reach out to the target audience. It may be in the form of pamphlets, bill boards, posters, FM- radio, newspapers, etc.

For Example – The footwear market is lead by brands such as Nike, Adidas, Puma, Sketchers, etc. Consumers often get attracted by looking at the advertisements of these brands on the front page of newspapers, magazines or over bill boards as well.

INFLUENCER MARKETING

Individuals having a multitude of followers are asked to endorse a product over their channel/website for a decided amount of commission fee. These influencers make use of their fame and status to market that particular brand or product to their target audience. This technique certainly helps to boost sales as a known famous person recommends a company’s product/service and it does increase the visibility of that brand.

For instance – Allen Solly employed this strategy by leading the campaign of #shootforsolly. They invited over 20 influencers to market their new product – Chinos. These influencers were asked to pair Allen Solly Chinos alongside a tee of their choice and participate in a photoshoot. This technique helped the brand reach over about 3.2 million impressions.

AFFINITY MARKETING

It’s a Win-Win situation for both the brands engaging into this type of a marketing strategy. Expansion of the business through a partnership (co-branding), wherein two related brands get along and sell their product is known as affinity marketing. This approach helps satisfy the needs of the end users in a greater manner.

For instance – Taco bell (a popular fast-food chain) got along with Doritos (brand selling flavoured tortilla chips) to offer a merged food preparation called as Doritos Locos Tacos. These two brands made it to a 500 million sales mark over a period of just 14 months.

BUZZ MARKETING

It is a marketing tactic wherein brands intentionally create videos, advertisements, bill-boards that are comical, funny, outrageous or controversial. It is a unique marketing strategy to get your brand to become the talk of the town. It intends to create excitement and enthusiastic anticipation among the people.

For instance – AMUL, an Indian dairy product brand, published a cartoon picture advertisement depicting a Chinese Dragon. The picture said, “Exit the Dragon?” Public took this advertisement as an endorsement of ‘Aatmanirbhar Bharat’ and ‘Boycott of goods made in China’. This particular endorsement made rounds on the Internet.

SOCIAL MEDIA MARKETING

We live in the times where, more than one person from every family is active on Social Media sites such as Instagram, Facebook, Twitter, YouTube, so on and so forth. Thus, marketeers take it into consideration that posting content on social media sites will definitely boost sale. In the Covid-19 Pandemic, brand endorsers looked at social media as a boon, as they could reach out to their potential clients through online modes.

For instance – Dettol (a British brand producing cleaning supplies and disinfectants), launched their Dettol Anthem on YouTube in India during the pandemic. This fetched many views, likes and also lead to a boost in their sales. The Anthem says, ‘Mil Ke Harayenge’ ( English Translation – Together we will defeat it).

Marketing is one of the most exciting branches of a business. With the changing times, even the marketing strategies are blooming and undergoing a change. Along with meeting the organization’s set targets even customer satisfaction is greatly taken care of. With a global exchange of ideas and technology the methods of marketing are evolving and will reach greater heights in the upcoming years.

What is Affiliate Marketing ?

Affiliate marketing is the process of earning money (commissions) every time you promote a company’s products or services and drive a sale. You only get paid every time you drive a sale, just like a commission-only sales representati

How Does Affiliate Marketing Work?

Because affiliate marketing works by spreading the responsibilities of product marketing and creation across parties, it manages to leverage the abilities of a variety of individuals for a more effective marketing strategy while providing contributors with a share of the profit. To make this work, three different parties must be involved:

  1. Seller and product creators.
  2. The affiliate or advertiser.
  3. The consumer.

Let’s delve into the complex relationship these three parties share to ensure affiliate marketing is a success.

1. Seller and product creators.

The seller, whether a solo entrepreneur or large enterprise, is a vendor, merchant, product creator, or retailer with a product to market. The product can be a physical object, like household goods, or a service, like makeup tutorials.

2. The affiliate or publisher.

Also known as a publisher, the affiliate can be either an individual or a company that markets the seller’s product in an appealing way to potential consumers. In other words, the affiliate promotes the product to persuade consumers that it is valuable or beneficial to them and convince them to purchase the product. If the consumer does end up buying the product, the affiliate receives a portion of the revenue made.

3. The consumer.

Whether the consumer knows it or not, they (and their purchases) are the drivers of affiliate marketing. Affiliates share these products with them on social media, blogs, and websites.

How Do Affiliate Marketers Get Paid?

A quick and inexpensive method of making money without the hassle of actually selling a product, affiliate marketing has an undeniable draw for those looking to increase their income online. But how does an affiliate get paid after linking the seller to the consumer?

The answer can get complicated.

The consumer doesn’t always need to buy the product for the affiliate to get a kickback. Depending on the program, the affiliate’s contribution to the seller’s sales will be measured differently.

The affiliate may get paid in various ways:

1. Pay per sale.

This is the standard affiliate marketing structure. In this program, the merchant pays the affiliate a percentage of the sale price of the product after the consumer purchases the product as a result of the affiliate’s marketing strategies. In other words, the affiliate must actually get the investor to invest in the product before they are compensated.

2. Pay per lead.

A more complex system, pay per lead affiliate programs compensates the affiliate based on the conversion of leads. The affiliate must persuade the consumer to visit the merchant’s website and complete the desired action — whether it’s filling out a contact form, signing up for a trial of a product, subscribing to a newsletter, or downloading software or files.

3. Pay per click.

This program focuses on incentivizing the affiliate to redirect consumers from their marketing platform to the merchant’s website. This means the affiliate must engage the consumer to the extent that they will move from the affiliate’s site to the merchant’s site. The affiliate is paid based on the increase in web traffic.