Affiliate marketing is a business model in which individuals earn commissions by promoting a company’s product or service through a unique affiliate link. In 2022, this model saw an investment of $8.2 billion by U.S. businesses, a figure projected to double by 2024. This model, which is low-cost and low-risk, requires only a website to start and can be easily scaled by promoting products from different companies.
When joining an affiliate program, marketers are provided with a unique link that includes a tracking ID. This allows the company to track the customers referred by the affiliate and attribute sales to them, even if the purchase is made at a later date. While the majority of affiliate marketers earn less than $10,000 annually, about one in six earn $50,000 or more per year. This indicates the potential for significant income in this field, although achieving such income levels necessitates hard work and brand building.
Key Takeaways:
- Affiliate marketing is a method of promoting a company’s products or services through a unique link, earning a commission for each purchase made through that link.
- Businesses in the U.S. spent $8.2 billion on affiliate marketing in 2022, with expectations to double this figure by 2024.
- While most affiliate marketers earn less than $10,000 per year, there is potential for significant income, with one in six making $50,000 or more annually, though this requires considerable effort and brand building.
“In 2022, business spending on affiliate marketing reached $8.2 billion in the U.S, and it is projected to grow to $15.7 billion by 2024. Affiliate marketing is a low-cost, low-risk business model that only requires a website to start. It is also easy to scale as you can promote products from many different companies.”
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