What is Affiliate Marketing?
Are you familiar with affiliate marketing? Affiliate marketing is basically a way to leverage your brand without direct risk.
Brands will actually pay other brands or influencers to market a specific product or service and then pay them a percentage if they make a sale. You’ve probably seen people you follow use it without even realizing it. For example, fashion influencers will post themselves in a really cute outfit and then they’ll link it (have you heard of Like.to.know.it?), and if you purchase through that link then they make a percentage from the sale. That is EXACTLY what affiliate marketing is, except that it extends well beyond clothing and fashion.
Or, maple, have you ever heard people say “use this code to purchase and get 15% off”? Chances are that you are getting 15% off and then the influencer or brand that made the sale to you is also making a cut. It’s smart marketing when it’s done right! There’s really little downside to either the selling company or the influencer.
In down markets or tougher times, just like we are experiencing right now, it’s super interesting because it’s solely based on performance. It boosts awareness for the company that is selling the product, and it also helps the bottom line for both companies, frankly. While the promoting brand or the influencer has a chance to utilize a totally risk-averse opportunity IF, and this is a really important IF, they are staying true to their brand.
As an affiliate, where it can be done wrong, is if they're just selling to make a buck. You want to be wary of any individual who is an affiliate for any and everything. If you really believe in the product and it feels authentic, then it’s worth looking into their affiliate marketing program.
That’s really affiliate marketing in a nutshell, although there are a lot of different ways to slice it, I hope this gives you a quick glimpse into what affiliate marketing is and how it can be done. I would love to know, have you ever used affiliate marketing before? What did you use it for? Tell me about it, I’d love to hear!