Types Of Affiliate Marketing - Which One Should You Go For?
The US affiliate marketing industry will rise to $8.2 billion by the end of 2022 and that’s like three times what we had a decade ago. This is what Statista records show. Marketing is a great way to increase your sales but not every company has the funds to advertise their products. What do you do then? Well, affiliate marketing is the way to go.
So, what does it mean when we talk about affiliate marketing? To be precise, it is a type of advertising model in which the company takes the help of a third party to attract customers towards what the company wants. That third party, aka affiliate, charges a commission on every sale as a reward for his hard work. We’d recommend you first read our introductory article on Affiliate marketing before going forward.
Do you think affiliate marketing is all about having quantity clicks, visits, and purchases on the shared link? Yes, you are right but there is more to understanding the variety of affiliate marketing. Not to worry, we are here for the same.
Down there are is everything you need to know about choosing the right affiliate marketing program. Read on.
Source: Slidesgo
What are the types of affiliate marketing?
There is not just one way from which brands associate with affiliates. In fact, there are three key types of affiliate marketing engagements that you can for.
Source: Wikitechy
Unattached Affiliate Marketing
When the affiliate is not present in any niche or has no authority in the particular advertising area to promote the product, that’s what you call unattached affiliate marketing. In this, an affiliate marketer can simply launch ads on Google Ads or Facebook ads.
Hard to understand? Here is a simplified version. Sometimes it’s hard to build a connection with the customer through blogs, affiliate social media accounts, or an all-time platform to promote the product. That’s when people go for unattached affiliate marketing because, in this, the affiliate doesn’t have to connect with the end-user by any means all affiliate needs to do is promote the product and get as many clicks as possible.
To be honest, affiliate marketers are not good fans of this type. However, it is really sought after by brands looking to expand their reach to a wider audience and get visibility in the market because you’re essentially ensuring that every Joe and Jill in the industry are talking about you.
Related Affiliate Marketing
This is the one where you’d find a lot of newbies. In related affiliate marketing, affiliates are slightly related to the niche your product is in. That’s what makes it “related”. So, if there is a need to have a presence, for instance, blogs, social media accounts, or podcasts, they can promote the links in the form of banners or text on the website.
Related affiliate promotions often consist of products that are slightly related to a marketing niche however it could have some that the affiliate hasn’t tried and tested personally. That’s why there is a risk of losing the audience’s trust. Somehow, delivering the quality will be totally in hands of the merchant and people will be going for it trusting the marketer.
Involved Affiliate Marketing
Involved affiliate marketing is totally the opposite of unattached one because this isn’t just about having the ‘number’ of clicks on your affiliate link. When the affiliate tests the product and absolutely loves the services, they try to make it reach out to as many people as possible. Also, that’s the type of product professionals would genuinely recommend to their audience and not like something they barely use or don’t use at all.
Source: Bigcommerce
This is the kind of collaboration you should go for if you’re looking to boost sales or reach out to a new audience. To build trust in the target audience, you need an expert from your niche to promote you and be your brand ambassador. Involved affiliate marketing is also a great choice for those looking into long-term engagement with these affiliates – as they’re more result-driven and can be your constant source of qualified marketing leads.
Who can be the right affiliate for your brand?
The work of an affiliate marketer is to ensure they get the job done for the seller. However, not all affiliate marketers promote the product the same way as you want. So, here are the most common types of affiliate channels you will find.
Bloggers
You may have come across a bunch of blog posts that say ‘Best Hostings of the Year’. Most bloggers who write this type of piece often have an affiliate marketing agenda in it. The reason is, that bloggers have their hands-on SEO and know how to entice the audience to buy a thing through the power of words.
This is why bloggers come up with the finest and most compelling reviews or listicles about the products in the marketing and involve the audience to complete certain tasks. As a reward, they get paid for their true words.
Web Marketers
Having a website is a great way to promote your products. Sometimes, the marketer may have a large media website that has a fanbase of millions on its online publications. This is just right for someone who wants to reach out to as many people as possible.
Mostly, these large website operators have a huge email list on which they can share information that usually includes an affiliate hyperlink. These emails usually include newsletters with a bunch of CTAs. You know how far these affiliate links can reach and your sales will be flying higher.
Influencers
We generally don’t think about influencers when it comes to affiliate marketing, but this is one great way to leverage your sales. Imagine, an influencer probably has a number of followers on his/her account and when they recommend your product, you can increase your sales way too much.
Again, influencers do a great job as affiliate marketers because they have a fanbase and a large audience who trust their words of mouth. Even if they promote the product via blog posts, social media posts, or whatever way they do, your product would reach out to people who are just right for you.
That’s why we see our favorite Lydia Millen promoting fashion clothes on Instagram handle with a community of 1.1 million followers. This is what influencer affiliate marketing is all about.
Knowing types of affiliate marketing channels is good and all but do you have any idea how to pick the right one? This decision involves a series of decision-making. The next part is all about that.
Source: Slidesgo
How to find the right affiliate program for your brand?
Affiliate marketing is truly known for its low-investment advertising type but that doesn’t mean you can straightaway jump on launching an affiliate program on your website. You need to know a bunch of things beforehand.
Identify the objective
Just like any marketing campaign, you need to understand and note down your sales goals before coming up with the decision. First, you must figure out what you want to accomplish by this type of marketing. Next, know the type of niche you want to promote your product in and know how you want to communicate the message.
Be aware of the downside
Here is the real truth why most companies don’t go with affiliate marketing. This type of marketing often comes with disadvantages and the most unpredictable one is fraud. Besides, you will have less control over the creativity of the marketing campaign.
It is not to make you feel uncomfortable about affiliate marketing but only to help you understand how important it is to have a plan ready. Just in case something like this happens, you should be prepared to face the consequences or deal with these situations.
Figure out the right affiliate
Once you launch an affiliate marketing program, you must select only the niche trust makers who have a hand in what he/she does with their customer base. It’s quite easy to find these people online and the best way is to go for influencer marketing for starters. Also, reaching out to a blogger is also a great way because these marketers know how to promote the product of their niche.
Conclusion
Affiliate marketing may seem like a complex subject but it’s not if you understand one thing at a time. So, there you have types of affiliate marketing that come with their individual advantages. Understand what fits best for your needs and choose wisely because once selected well, this marketing strategy could scale your sales like no other campaign.
