Affiliate marketing takes form through three main components:
- Seller and product creators
- The affiliate of the advertiser
- The consumer
Through the three components above, affiliate marketing engages with an affiliate who will earn a commission for marketing the seller’s product. Usually, the affiliate will look for products they prefer, and they market the products.
In a way, affiliate marketing distributes the product marketing responsibility between the creator and the affiliate. In return, the affiliate receives a percentage of profit.
The seller and product creators could be an entrepreneur or a large scale brand. Regardless of size, their product could also be almost anything. They could be household products, services, electric appliances, etc. These brands can have their own marketing methods in addition to affiliate marketing. Also, the brand does not need to be actively involved in the affiliate’s marketing.
The affiliate is also someone who publishes your product through marketing. It can be a company, collective or individual who believes in your brand and products. Affiliates will promote the product and persuade their followers to purchase the brand’s products. When the consumer buys the product, the affiliate will receive a portion of the profit earned. Affiliates generally would have a specific audience to whom they market their products, according to their audience’s interests. Therefore, affiliates will choose products that speak to their audiences, increasing the chances of purchases!
Lastly, the consumer! Consumers may not know that they are one of the main drivers of affiliate marketing. Products are shared with them on social media, blogs, and websites.