Yeah! After 2 weeks at my new job I have finally discovered what Affiliate Marketing is. Well, sorta...
Affiliate Marketing is an Internet-based marketing practice in which a business rewards one or more affiliates for each visitor or customer brought about by the affiliate's marketing efforts.
There are 4 core players at it’s heart:
1. The Advertisers (Amazon.com / Zappos.com)
2. The Network (LinkShare / Commission Junction)
3. The Affiliates (the person with the blog/website)
4. The Consumer (the person buying stuff from Amazon/Zappos)
Affiliate marketing—using one website to drive traffic to another—is a form of online marketing, which is frequently overlooked by advertisers. While search engines, e-mail, and website syndication capture much of the attention of online retailers, affiliate marketing carries a much lower profile. Still, affiliates continue to play a significant role in e-retailers' marketing strategies.
I know that was a little technical. Here is another way to put it... If I wanted to make a little extra money I would put up "advertising banners" on our blog here. Most likely they would be put out to the side bar. I would pick companies that would reflect our blog, like REI or Performance Bicycles. When "guests" visit our blog; you have immediate access to REI or Performance directly from our blog. You buy something from REI, on that visit (from our blog), and REI gives me money. It is a free investment on my part and there is no added expense to my "guests." If you were going to buy something from Performance Bicycles anyway, then you just come to my blog first before googling "Performance Bicycles" and using a search engine. Win-Win.
Now my specific job does not involve super cool companies like REI or Performance. My company works with Pay Day Loans. I know what you are thinking...Ewwww. But after some thought and research, I am not making these people take out a pay day loan. They are doing it on their own. Therefore making their own poor investments and making the company I work for wealthy and able to pay my salary. Who am I to financially advise people not to make poor financial decisions? They should know better, but when you are in a jam and need money, pay day loans are there.
After I sat in the call center listening to people take out loans and then on the collections side our company trying to get our money back, I realized no one should EVER take out a pay day loan. They are intended for a 2 week small loan (no more than $1000). The people that need small loans typically can't pay them back in 2 weeks. There is not an APR, per se, because the interest is incurred daily. So the interest works out annually to be almost 400%!!!!! I repeat do not take out a pay day loan. But let's keep that between you and me ;-)
So as the Affiliate Marketing Coordinator for
Logic Marketing (our new web-site will be launched next week :)) I track how many affiliates (people with financial blogs/websites that host our ads) have gotten traffic from their sites to our the pay day loan site. There is a lot more involved with what I do exactly, but I won't bore you with the details. ;-) I will say it is FUN and innovative.
I am so excited to be working in the area of advertising and marketing. The Internet is the way people are shopping, connecting, researching, and living. Affiliate marketing is so new they don't even teach it in college when you get a degree in marketing (right Meredith?) At least that is what I have been told. My degree is in Psychology. If I had to do it all over again, I would have picked a different major. My advice to all the fresh new college students, pick one of these majors and you will be sure to be marketable and have a job when you get out of school.
- Computers IT (Building / software development)
- Advertising / PR / Marketing
- Teaching
- Accounting
- Finance (Banking/Investments)
- Computer assisted design/Art
- Law
- Foreign Language
If you pick something vague and intangible like Psychology, be prepared to be in school for a very long time. One degree after another will be the only way to be on the upper echelon of your field. Because a bachelor's degree in Psychology, Biology, Math, History, or Philosophy will get you no where. Skills are required. Tangible functioning practical life skills.
Ok, I am done with my soap box. :-) Just wish I had someone tell me exactly what I should do in school.
Love ya all, Heather
Weather: @ 10:30 am Eastern time 9:30 am Central timeChattanooga, TN 69* feels like 69* partly sunny-- 90% humidity -- Wind "CALM" (not sure what that means)
Bloomington, IL 65* feels like 65* sunny -- 87% humidity -- Wind "CALM" (I think the weather.com peeps are smoking some grass)
Aurora, IL 65* feels like 65* FOG -- 94% humidity -- Wind NE at 2 mph
