Category : Affiliate Marketing Tags : Affiliate Marketing, Amazon, passive income, extra income
The best idea for generating the extra income for you without leaving your day to day to work. It is the best way to earn a passive income by promoting or selling third party product or services, and take a share in the profit. Vice-versa, you can also ask third party sellers to sell your products on your behalf and share profit with them.
Affiliate marketing facilitates to put all energy in improving the quality or quantity of the production, without taking the hassle of selling them in the market.
The 4 main entities involved in the process are: The Merchant (promoter or seller), The Affiliate (publisher or third party), The Customer (consumer) and The Network (Interface between Affiliate and Merchant). Let's discuss them in detail.
The merchant also known by different names like, seller, promoter or vendor. Merchant is the creator of the product. It can be a manufacturer, a big brand, small manufacturers, service providers. It can also be the single individual company offering the products and services and want to grow his business through affiliate marketing.
This is the third party, who the merchants hire or partner with to promote/sell the products or services on their behalf. They also called the promoters. They earn profit ranging from few hundred to millions of dollars.
These promoters have their strategies to market the products and to reach out potential customers. They have professionals who've years of experience in the marketing field. They believe in generating the need of products among the customers.
The customer is the end-user, who use the product and service. It is very essential to know and understand the demand of the consumer as they give feedback about the products used. Consumers are basically the profit feeders for Affiliate and Merchant, as they buy the products and in return provide their valuable feedback.
The Affiliates use certain channels like Social Media and Digital Marketing, to reach out the potential customers.
The network is an interface between the merchant and affiliate. It has not been recognized by name but still it is the need of the hour. Amazon offers the biggest network for Affiliate Marketing.