Join Evgenii "Geno" Prussakov for an in-depth discussion in this video Affiliate-advertiser relationships, part of Affiliate Marketing Fundamentals.
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In this video, we will look into the specifics of affiliate advertiser relationships, and to the earning potential of an affiliate website. And into the startup costs, time investment and skills required. Let's start with affiliate advertiser relationships. When looking at how the term affiliate is defined in any literature on business or economics, it is easy to be misled. Here are just a few classic definitions.
As you can see, the first one says the term affiliate means any company that controls, is controlled by, or is under common control with another company. The second quote says the term affiliate can be used as a generic word to indicate either a subsidiary or division. And the third quote echos the second one, saying the terms affiliate and subsidiary are used synonymously. And so does the fourth quote. However, none of these come even close to what the term affiliate means in the context of affiliate marketing.
Looking at the mentions of common ownership, control, and closed commercial or operating ties, we can conclude that one affiliate can almost be an antonym of the other. Neither of these elements are present in the context of affiliate merchant relationship and performance-marketing contexts. Affiliates, as the term is being used in online marketing, are independent marketers who may choose to promote a business and be paid on performance basis.
It is important to realize that affiliates are independent marketers, who choose what affiliate programs to promote and what programs to drop, what merchants to push more aggressively and what merchants to spend less effort on. They are self-managed and not accountable to merchants for performance. All of this makes online affiliates very different from the traditional business definition of an affiliate. I also really like the earlier referenced Chris Sanderson definition of what it means to be doing affiliate marketing.
He said that affiliate marketing is the art of doing a merchant's marketing better than they can, and profiting from it. We will look into the ways you can be doing merchants' marketing better than they can in the Types of Affiliates video to follow.
- Understanding core affiliate marketing concepts
- Opening affiliate account(s)
- Selecting and applying to affiliate programs
- Monetizing blogs
- Using affiliate data feeds
- Using coupons and discounts
- Adding email, video, and social marketing to the mix