The concept of affiliate programs was launched in November 1994 by CDNOW when they introduced their BuyWeb program. It was based on the idea that music related websites could list albums and also evaluate those that the users might be interested to purchase. These websites would also offer links to CDNOW web page where users could set their orders for the music CDs.
One of the better and more frequently known examples of affiliate program use is the website Amazon. Amazon started their affiliate program in July 1996. The associates could place a link or banner on their websites and if the purchase was made the associate got paid. Remuneration for affiliate programs is made by using CPS or Cost per Sale as a compensation method. Nearly 80% of all trades are done using this. More or less 19 % use CPA or Cost Per Action. In these methods the associate or the advertiser must ensure that the customer to the main host site has converted and makes a purchase.
A new idea in the field of affiliate program network is the multi-tier system. It involves distributing commission using hierarchical referral network of sign ups and sub partners. At most two tier systems exist but most of the affiliate programs are still single tier. A number of web merchants use in house affiliate programs using well known software while a few merchants prefer to go through third party services. The third party services are generally preferred as they are impartial in evaluating traffic and sales. Depending upon the choice of service used payment is done by suppliers themselves or by a third party or affiliate networks in support of the merchant.
Now coming to the most interesting part of affiliate programs. How to choose an affiliate program for a target website? There are essentially three ways wherein you can find a relevant affiliate program. First and the foremost is the affiliate program directories. These are a sort of handbook to pre-screened affiliate programs and comprises of affiliate discussion forums, blogs and beginner tools. The second way is to use large affiliate networks that offer the platform for thousands of advertisers. This is normally a good way to start to get the hang of things. Third and the most economical way is to use the target website itself. Generally target websites have a link titled affiliate program that gives direct affiliate programs, but you need to be experienced enough to understand which one would work the right for you.
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Affiliate marketing has grown by leaps and bounds in the past few years and has proven to be an effective way of generating profits for online merchants by using the concept of revenue sharing between the merchants and their associates or affiliates as they are commonly known as.
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