Tuesday, 15 December 2020

AFFILIATE MARKETING- The best way to go for start-ups!


 Affiliate Marketing is essentially a model which drives people (majorly famous ones such as Instagram influencers, models, etc.) to collaborate with a  brand by giving them a purchase code, that purchase code when used on the brand’s website would give the audience a  small percentage of discount and would be noted as the influencer’s directed customer. From this purchase, Thus, the influencer would earn a small share of commission. Such is the cost effective and fair system which benefits both the  brand as well as the promoter.

image source- Informatics

  A lot of brands including the popular and well established ones such as Zee5, Amazon, etc are launching an ‘influencer’ program. Other smaller brands are following this suit as well for example MamaEarth, Casetify and so on.

            This system is basically based upon the fact that people are more likely to be ‘influenced’ or to be inclined into buying a particular product if a person they know or look up to around their circle or someone to whom they connect well with is using the product and promoting it. A well-established bond of trust or relatability is used by the marketers to create sales from.

            Affiliate marketing also creates free promotion of the brand on the promoters social media which would have been a heavy cost bearing exercise which is now being done almost for free. Another benefit of these programs are direct and targeted marketing, the brand ends up paying only for the commission received from the orders and nothing else, which is far more effective than simple one or two social media promotional posts which are usually generic in nature and hence don’t gain much of the attention of the viewer.

            To sum it up, this system is one of the best and the most affordable system for someone who has a low budget or has a very sparse sales or marketing resources.