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Affiliate Marketing is a type of online marketing business where there’s reward to a marketer that makes a promotion that results in a customer or potential customer visiting or buying the promoted product. This type of online marketing business is performance based and seeks to reward marketers for any lead generated. Affiliate marketing involves four key players in its model of business; the merchant/retailer, the network, the publisher, and the customer. With the methods employed in affiliate marketing, there seems to be an overlap between it and internet marketing. These two share some marketing methods including email marketing, organic SEO, paid SEO, and content marketing. Caution should be exercised to avoid confusing referral marketing and affiliate marketing. Affiliate marketing is specifically important in the marketing strategy of an online retailer.
Self-employed entrepreneurs with websites or blogs (or simply publishers) can join already established affiliate networks and start to benefit from the large pool of product owners or advertisers. The publisher can join these networks at will or wait for advertisers request for them to join the network. In essence, almost all websites qualify for recruitment into an affiliate marketing network; however, advertisers prefer high traffic sites for the obvious reasons; to take advantage of the per-click economies of scale and their revenue share implication. Publishers that wish to engage in affiliate marketing but are stuck can find these affiliate programs by searching in the program directories. They can also find such information from large affiliate marketing networks that may be resourceful in providing a large pool of advertisers. Lastly, this information can also be obtained from websites that form part of an affiliate program.
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Freelance online marketing involves individuals promoting specific brands over the web. Freelance marketing can is mainly executed on different digital platforms including social media and blogs. However, it is important to note that the success in doing freelance marketing rely on the marketer. Before anyone decides that it is the right time for them to go solo, he/she need to evaluate their online presence as well as the online command they attract. For instance, a blogger with a huge following may earn revenue by just endorsing a given product, either through their social media pages/handles or their celebrity websites or blogs. With an endorsement from an influential person, the product information is likely to be shared by their following, thus increasing the probability of creating a lead.
With freelance marketing, marketers need to do an objective self- assessment before offering themselves to the market. It could be a tragedy to a freelancing marketer to overestimate their influence, only to realize that they cannot promote products/services or businesses. The other important aspect that freelancing marketers need to assess before venturing into business is the fee structure for their services; if they can earn better than they currently do, then it’s okay to start a freelance online marketing business.
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