It is believed that a good marketing strategy can drive your sales and generate significant revenue. Almost every industry in India is bidding farewell to traditional marketing tactics and becoming more digitally and socially connected.
Large organizations are experimenting with new and interesting marketing strategies and it is no surprise that a lot of these strategies are actually working. One of the popular marketing strategies that actually seems to be hitting the nail is affiliate marketing.
What is Affiliate Marketing?
Affiliate marketing is a marketing tactic process in which an affiliate earns a commission when they sell another company’s products.
The goal of the affiliate is to convince potential customers to buy a product so that they earn their commission. This can be done by writing product reviews, blogging about the product or by the affiliate simply listing the product on his own website. Sales are usually tracked by means of affiliate links from one website to the other.
Affiliate marketing is a win-win marketing strategy for both the affiliate, as well as for the seller.
Affiliates earn a piece of the profit for every sale they make. The seller makes a sale that they in all likelihood wouldn’t have made – so they pay a piece of the profit to the affiliate.
This marketing model is proving to be mutually beneficial for affiliates and brands. In fact, 81% of brands worldwide now leverage some form of affiliate marketing.
Affiliate marketing in India has grown from relative obscurity just 5 years ago to now being one of the hottest new business models for entrepreneurs in the country.
This is because affiliate marketing is a business that can be started on a low budget: anyone can sign up as an affiliate and start promoting products.
But what are the 5 hottest industries for affiliate marketing in India in 2021? Let’s take a closer look at it!
The hottest industries for affiliate marketing in India
Ecommerce: Without a doubt the e-commerce industry is the best suited for this marketing model.
E-commerce giants like Amazon and Flipkart have great affiliate programs with generous referral payouts ranging from 0.2% to 20% of the product’s cost depending on the category of the product.
Travel: The travel industry is relying heavily on influencers and bloggers to attract tourists. It has become commonplace to see social media influencers promoting the services offered by the likes of Booking.com, Agoda and MakeMyTrip.
E-wallets: With the Indian government pushing for demonetisation, e-wallets have become all the rage. With so many providers in the market, e-wallet companies like PayTM and Airtel Payments are trying their best to attract customers to their portals by using affiliate marketing.
Online Betting: Most international betting sites (such as Betway and Bet365) have affiliate programs and offer generous payments to affiliates that succeed in signing up new players on the betting site. Therefore, many betting affiliate sites have sprung up in India.
One of the best examples of such a site is MyBetting, a service that compares online betting sites in India. MyBetting.in is a site that compares various online betting sites in India.
The affiliate marketing business is not exactly new, but it has grown and expanded rapidly all over the world in recent years, including right here in India.
It seems plausible and likely that affiliate marketing will continue to grow over the next few years, as more and more brands become aware of this profitable marketing technique.