Imagine running a business where you are not required to stock any inventory and customer service is not your problem.
Think of how many headaches that removes!
In a nutshell, that is affiliate marketing. Think of a Mary Kay sales woman who does not have to stock any of the make-up.
Companies from large to small have an active affiliate program setup, and usually all that is required to join is to fill out a form. See Webtolerant’s list of recommended affiliate programs.
Besides solely acting as a revenue source, affiliate marketing is also a great way to continue offering your own product/service for free while still generating revenue.
Commissions generally range from 30 to 50% of the sales price, so the income generated can be huge!
How Does Affiliate Marketing Work?
Once signed up for an affiliate program, the you will be given an unique tracking id. This is usually an unique link that will let the company know where the sale generated from and who to pay commission to.
Example: Larry signs up for an affiliate program with Buy.com. Larry is given an unique url that will give him credit for any sale generated from that link.
Now, take look at our infographic about affiliate marketing below, or let’s talk about Social Networking.