What would you do to better market your amazing product/service to your entire audience base? Advertise your product, that’s right! Now there are various channels for advertising your product viz. Traditional mediums like print media or modern digital media/social networks and TV Ads. All of these channels would require you shell out heavy bucks before actually knowing how the ads are going to perform. This is where Affiliate Marketing fits in like a hand in a glove!
Future of Affiliate Marketing in India
To understand Affiliate Marketing, we need to understand the structure of the parties involved.
a) If you are paying for promotion of your product, you’re the advertiser
- b) If you are promoting the said product in return for compensation, you’re the media partner or publisher
- c) Finally the most important part, the consumers. These people buy the service or the product upon landing on advertisers website if convinced by the publisher’s efforts.
Affiliate Marketing is a performance based marketing/advertising model.
It allows the advertiser to push the product into the market successfully and release payment only when the publishers efforts bear fruit i.e. driving traffic to the website, converting leads into sales etc. So you see you can actually cut down on the advertising cost by a huge margin. Being cost effective and efficient, most merchants depend on Affiliate Marketing for their advertising efforts.
In the Indian Affiliate Marketing scene, there has been a spurt in growth over the last few years.
Affiliates and publishers have thrived as the need for advertising went up with the merchants like Flipkart, Myntra, Jabong, Paytm, Freecharge and Uber going toe to toe with their respective competitors. As the demand increased affiliates like CouponDunia, Couponraja, CouponzGuru has stepped up their game. Among these well-established affiliates, a startup called GrabOn has been making quite some noise and for all the right reasons. For a company that is in its 3rd year, GrabOn has grown from strength to strength becoming the country’s leading couponing site. This is made possible by the innovative tools and techniques utilized by GrabOn viz GrabOn Browser Plugin. GrabOn also keeps you updated with the latest deals and discounts using ‘Buzz’.
In the US, the combined effect of e-commerce boom post-1990s and growing popularity of blogging eventually gave rise to Affiliate marketing.
In the US, the affiliate marketing environment is dominated by coupon giants like RetailMeNot and Ebates. RetailMeNot is an MNC headquartered in Texas, operates under different names in different countries viz Deals.com in Germany and ActiePagina.nl in Netherlands offering coupons for more than 50,000 stores. Ebates based out of San Francisco offers coupons for over 2000 online retailers. Together these two offer coupons across various sectors, from automotive parts to beauty products, from baby products to electronics, travel and more.
Holiday Season = Peak season for online and offline retailers.
These affiliates have their work cut out for them come big events and festival season.
Following Thanksgiving day, begins the Christmas splurge with the biggest shopping day in US history i.e. Black Friday. Thousands of online retailers prepare themselves for serving discount-hungry customers. These affiliates act as the bridge between these customers and the retailers by directing them to the retailer’s site for the gradual conversion of leads into sales!