Affiliate Marketing is simply a business model by which you can earn commissions (a portion of the money generated from the sale) from promoting other people's products or services.
As a simple example, let’s say you’re an affiliate promoting a product that costs $100 and the owner of the product agrees to pay you 40% commission.
This means that for each sale you generate through your promotions, you will received $40 (40% of $100).
Here's a quick overview of how it works...
And, being an affiliate marketer has several advantages, including:
Affiliate marketing has been around for a loooong time, and it doesn't look like it's going away anytime soon.
The affiliate marketing industry is worth well over US$12 billion globally and the revenue from affiliate marketing continues to grow by more than 10% annually.
Interestingly too, more than 80% of brands rely on affiliate marketing.
In the next lesson, you'll learn some common reasons why people fail at affiliate marketing, and how you can avoid them.