Affiliate Marketing – affiliate marketing is probably a pretty familiar concept to marketers in the new era, especially to the young people who are constantly creating and learning new ways to make money.
Indeed, Affiliate Marketing is considered one of the most effective forms of making money online today. The proof is that the number of people participating in this network is increasingly large, typically the extremely popular e-commerce platforms.
So, what is affiliate marketing? What is Affiliate Marketing ? How does it work? What forms are included? And how to make money with effective Affiliate Marketing?
All will be answered in this article.
What is Affiliate Marketing?
Affiliate Marketing or affiliate marketing is a form of monetization where suppliers are a business that wants to via the website, partners online (distributors) to promote products, their brands to with consumers.
After each successful purchase from a customer or when they register to use the service, fill in the correct information for the purpose of the business, online partners will receive a commission as exchanged through the contract.
How does Affiliate Marketing work?
The operation process of Affiliate Marketing begins when customers visit the website, fanpage, blog, etc. of the distributor.
After that, if the customer continues to visit any affiliate link that leads to the provider’s website, the affiliate marketing network will record that action as well as the cookie of the device the customer is using.
Next, if the customer completes the last step of purchasing or registering to use the service, filling in information, etc., Affiliate Network will send a notification to the supplier to confirm the successful transaction.
Finally, when there is approval from the supplier, Affiliate Network will pay the commission to the distributor.
To better understand what Affiliate Network is and the top reputable Affiliate Network platforms, continue to follow this article!
Advantages and disadvantages of Affiliate Marketing
Advantages of Affiliate Marketing
Low start-up costs
Obviously, when participating in an affiliate program, you don’t need to spend money on creating a product or service.
Besides, you also don’t have to worry about storing inventory when and transporting products. These jobs will be handled by the supplier.
To become an affiliate, you don’t have to spend a lot of money unless you want to create your own website or spend money on paid ads.
No professional marketing skills required
In fact, not all people who implement affiliate marketing are true experts in the industry.
You can learn more about this area along the way, which mostly requires patience testing strategies and picking the ones that bring in more revenue.
Bring an extra source of income
Affiliate marketing model also helps bring an additional source of income, especially for young people and students today, as long as you invest in developing an effective way of doing Affiliate marketing .
Make Money Anytime, Anywhere
You can join any affiliate marketing program and start executing campaigns whenever and wherever you want (as long as you have a wifi connection and the corresponding computer or laptop device).
You can deploy work from home, from a coffee shop or right at your work.
Disadvantages of Affiliate Marketing
Highly competitive environment
Beginners often have a hard time trying to stand out from established competitors – websites and fan pages with thousands of visitors.
Besides, the number of affiliate marketers is increasing day by day. So your success depends on the strategy and creativity you apply to each campaign you launch.
It is an obvious fact that with affiliate marketing, you cannot make money immediately. From generating referrals to successfully promoting your brand takes a lot of time and effort.
No control over the product/service
Affiliates have no control over the products and services that customers receive. This is why choosing the right products and service providers is so important.
If customers receive poor service or low-quality products recommended by you, you will lose your reputation.
Drive new leads instead of an existing customer base
In the case of an affiliate, you cannot retain your customers and have to generate new leads over and over again.
Once your leads convert to loyal customers, unfortunately, you run the risk of not receiving any commissions from these new deals.
Unreliable Affiliate Platforms or Programs
The increasingly active Affiliate marketing market has inadvertently led to the birth of fake, low-quality affiliate programs or platforms.
To avoid scams and loss of revenue, you should carefully study the affiliate programs and choose the most reputable platform and program to join.
4 components in the Affiliate Marketing model
Affiliate Marketing is the link between 4 relationships: supplier – distributor – affiliate network – customer.
Each party will play different roles to complete the effective Affiliate marketing process.
Suppliers are people/organizations that pay third parties to introduce their products or promote their business.
Any business, large or small, or an individual who is creative and has a product to sell, can become a supplier.
Distributor is an individual or organization that directly performs the task of promoting products/brands at the request of suppliers through online channels using various marketing tricks to attract as many customers as possible.
The distributor will receive a certain commission from the supplier for this work depending on the contractual agreement between the two parties.
Affiliate Marketing Network
Affiliate network, also called for short, is an intermediary that plays the role of connecting suppliers and distributors with each other in case the two parties are not convenient to reach a direct agreement.
At the same time, the affiliate marketing network also helps to perform tasks such as paying commissions to distributors, creating links, product banners, etc.
Customers are those who buy products of the supplier through the link, the affiliate link is introduced from the distributor.
If you are familiar with the applications of Maslow’s hierarchy of needs in marketing, it will be an advantage to clearly define the target audience.
9 popular forms in Affiliate Marketing
Currently, in the Vietnamese market alone, there are hundreds of affiliate marketers ready to help you promote your products in many different ways.
Below, I round up some common types of affiliate marketing that you may need in the future.
1. Website owner or webmaster
Website owners or webmasters are often marketers who already own or want to build their own websites. They usually sign up for different affiliate programs like CJ or Shareasale.
The provider may link with the website owner/administrator through affiliate marketing network or personal contact information to apply for the right to use the webiste to promote its services.
The more authoritative the website, the more users will access the supplier’s affiliate link. In return, the webmaster will also receive a correspondingly high commission.
2. PPC or SEO Affiliates
This approach requires the distributor to master PPC skills to lead consumers to the supplier’s website using AdWords, SEO, or social media advertising.
They use their own effective Online Marketing knowledge to be able to optimize for search engines, social media advertising and many other paid advertising models to significantly increase ROI for home parties. provide and also for themselves.
However, the form of SEO and PPC affiliate marketing should be practiced by professionals who have experience in testing various ways to effectively connect and convert leads.
Besides, if you understand the benefits of SEO, the effectiveness will increase in Affiliate Marketing.
3. Sites specialized in content
Content-specific sites, such as blogs, portals, websites are rated as one of the most popular types of Affiliate Marketing today.
This Affiliate Marketing method is preferred to use when the supplier needs to post all the necessary information about the business and of course the content that these businesses all have a way of writing content or reaching target customers. consume as quickly as possible.
All you need to do is submit a product sample and have the distributor write a review to better promote your product because bloggers’ posts tend to rank higher in the public domain. search engine.
A more perfect way is that you can work with a blogger who specializes in writing about the product or service your business is offering to generate significant conversion rates and traffic.
4. Email or message board
In this type of association, the business needs to send the distributor a database of user email that they can use to send specific offers or newsletters related to the products and services of the company. enterprise.
It is important that users are willing to accept such emails from affiliates, and that the emails should also be integrated in a logical group.
Again, through email marketing, you can more easily share with users promotions and offers.
5. Coupon sites
Online shopping is becoming more and more popular, leading to a situation where users tend to always look for discount codes from marketers as soon as possible. This is why, coupon sites become an important element in affiliate marketing activities .
However, this form of association also has its own advantages and disadvantages.
The point is that thanks to coupon sites, you will receive a large amount of traffic and therefore, your revenue will also increase.
The downside is that the linkability of coupons site is somewhat limited because they need to rely on the ranking associated with the company name and coupon code provided by the business.
6. Social network
Taking advantage of today’s global reach of social networks, marketers actively promote brand promotion by creating a certain amount of influence and followers for various Facebook pages and groups. , Twitter, Instagram, etc
The more followers a distributor (or affiliate marketer) has, the more social media interactions will benefit the supplier and themselves.
7. Sites that specialize in reviews
Affiliate marketers especially like to work on review sites. These pages are mainly created to create an environment for marketers and users to comfortably review many different websites.
Each website will be hosted according to a specific niche. Then, oragnic search will scan all pages with many different types of reviews to provide a rich source of choices for suppliers.
8. Incentivized Traffics
Incentivized Traffics to a supplier’s website in exchange for an incentive or commission for performing conversion actions such as signing up or visiting their website.
The types of incentives offered are usually cashback services or virtual currency that one can make purchases on the web.
This form of association helps the provider to significantly increase traffic from potential customer interactions.
9. Shopping service
In the form of inter-service shopping, websites are designed to provide specific services to promote online purchases for brands .
These websites can be price comparison sites, aggregators, review portals, metasearch engine websites, etc.
Users will through the content and affiliate links from these sites redirect to the supplier’s page to complete the purchase.
How to do Affiliate Marketing: 3 steps to start making money with Affiliate
According to a survey by Rakuten, affiliate marketing is predicted to bring in $6.8 billion by 2020.
Furthermore, most companies say more than 20% of their annual revenue comes from partnerships in the affiliate marketing industry .
These results show that affiliate marketing is constantly evolving and creating many new earning opportunities.
So, how to increase the effectiveness of Affiliate marketing campaigns that also increase the amount of revenue significantly?
Here are the basic steps to do Affiliate Marketing, to help you start making money with Affiliate marketing smoothly; at the same time, optimize every operation in it.
B1: Join suitable Affiliate programs
The first thing you need to do when participating in an affiliate marketing network is to determine the form of affiliate that works best for you.
If possible, take the time to try all of the above 9 forms and gradually find out which one brings the most profit for your business.
You can also apply a variety of forms, but it is still best to start with a reliable foundation first.
Then, learn more about other platforms by consulting reviews from people who have used them, both saving time and limiting fraud.
In short, the effectiveness of an Affiliate Marketing campaign largely depends on the type of affiliate you choose to deploy. So, be smart in the selection step!
B2: Learn new traffic generation tactics
It doesn’t matter what marketing strategy you use, it’s important that you always monitor and optimize them to achieve the highest profit after the whole process.
That’s why you should incorporate a few more effective traffic-generating tricks, not only through your website or social networks, but also from many other sources, such as: content marketing , email marketing , etc.
There are many ways to increase reach and attract more visitors.
You can start by:
- contribute comments, reviews on other blogs
- create your community on different platforms
- use paid advertising
- collect email list and send newsletter
- collaborate with influencers, etc
Test and track each as shown in the chart above to determine which source gives the best results in terms of traffic and implementation costs.
B3: Thoroughly solve customer problems
With affiliate marketing , customer satisfaction is always a top priority. Therefore, try to bring a lot of benefits and practical value to your customers.
The most perfect way to realize the above strategy is to provide a solution that completely solves every problem that customers raise by following these tips:
- Create interesting content articles, bring loads of useful information on the right topics that readers are interested in and interested in. Consider inserting vivid images and videos to increase interaction.
- Choose the right products to promote. When you join the affiliate program, look for products that are related to the content you offer to your readers. Besides, check out the hottest, most in-demand products in the catalog to introduce to customers.
- Consider the user experience on your website/blog. From there, there are appropriate optimizations, such as: simple page navigation, do not use large image files to optimize page loading speed, use internal links properly, create buttons Innovative call-to-cations, available on any mobile device.
In short, be dedicated, dedicated to customers in all cases to build a perfect Affiliate marekting campaign .
Summary of outstanding Affiliate Networks in Vietnam
Affiliate Marketing has only been developed for the past 4-5 years, but has quickly affirmed its position in the service industry in Vietnam.
Parallel to that coverage is the birth of countless Affiliate networks. So what is an Affiliate network?
Affiliate Network or affiliate marketing network is the bridge between the supplier and the distributor to work more effectively.
Here is a summary of the most prominent Affiliate Networks participating in Vietnam:
Accesstrade was voted as the largest affiliate marketing platform in Vietnam with its origin from Interspace, Japan.
In 2015, AccessTrade expanded and officially went into operation in Vietnam market. From here, Affiliate Marketing began to explode and thrive.
According to the latest statistics from Accesstrade, they are cooperating with more than 80 categories in many different fields and more than 70,000 distributors agree to promote those products.
Moreover, during its formation, Accesstrade has created a huge user system, the commission can be up to 21%, it is not difficult for Accesstrade to rise to the top in the Affiliate Marketing market.
To have the opportunity to cooperate with Accesstrade, you access the address https://pub.accesstrade.vn/accounts/register , register an account according to the Affiliate Marketing instructions of the system and wait for confirmation from the system.
You then confirm your account via email and log in to the system to start promoting from AccessTrade.
MasOffer was built and developed by a Vietnamese enterprise – Eway Joint Stock Company in 2015 with the desire to create a complete ecosystem of Affiliate Marketing.
According to a recent report, up to now, MasOffer has attracted more than 10,000 Affiliate marketers to join the system, an impressive number, right?
The commission level when cooperating with MasOffer is not inferior to Accesstrad, can be up to 20%, and only when reaching a commission of 200,000 VND or more, the distributor will receive money.
Civi is similar to MasOffer in terms of operating time and was also formed by a Vietnamese enterprise – Viet Tien Manh Joint Stock Company (VTM Group).
With the successful implementation of more than 1000 campaigns from suppliers and a huge customer network, Civi not only stands out in Vietnam but also actively operates in the Japanese market in particular and Southeast Asia. Asia in general.
Especially, when cooperating with Civi, the distributor is not extended in terms of limit to be able to receive the corresponding commission. Commissions will be paid twice a week; even good performing distributors will be paid every day.
Affiliate marketing on e-commerce platform
The Affiliate Marketing model has not been penetrated into the Vietnamese market for a long time, but it has quickly become a development goal that major e-commerce platforms such as Amazon, Lazada, Shopee, Tiki, etc. are aiming for.
Currently, almost every exchange has deployed an affiliate marketing channel, creating opportunities for distributors to register and sell products online more conveniently.
The difference when doing affiliate marketing on e-commerce platforms compared to the above networks is that distributors will link directly with suppliers.
Therefore, the level of commission received will of course be somewhat higher and this is the way that Marketing Online consultants always recommend for businesses.
It can be said that Affiliate Marketing is considered one of the most effective forms of making money online today.
This article has provided you with the basic knowledge of what Affiliate marketing is so that you can immediately start making money with Affiliate marketing.
Hope you will be able to apply the content of the article provided to enrich your knowledge in the near future.