Multiple opportunities

As we noted earlier in this chapter, one of the problems with earlier versions of referral marketing was that there was no way to accurately track purchases and the actual referrers who deserved rewards for making the purchases. The Internet changed all that. A system of cookies, or small pieces of code stored in your browser and your affiliate dashboard, is able to track purchases. The cookie may also track the affiliate marketer who promoted the sale so that it can be credited and earn the affiliate commission.

Companies only like a marketing system where they only have to pay for that marketing when there is a sale. The salesperson (in this case the affiliate marketer) pays all marketing costs (however minimal, such as hosting, software, tools, domain registration, etc.). What’s not to love about a company? More and more companies are joining the affiliate marketing bandwagon. Hence the profit opportunities for the affiliate marketer are expanding with the growth of affiliate programs.

The Internet also multiplies the opportunities you get through mass orders simply because of the size of the Internet audience you can reach easily and economically. Depending on your product or service, your audience can vary from an audience in the millions to a small, niche audience looking for exactly what you have to offer. In the past it was not feasible or economically feasible to locate and promote these small, widely dispersed groups.

In contrast, an affiliate marketer with the Internet can potentially place their promotion in front of millions or even millions of potential buyers. An affiliate marketer’s offering of goods or services is available 24 hours a day, seven days a week. Any of the billions of internet visitors can potentially visit an affiliate marketer’s site 24 hours a day, seven days a week, and make a purchase. In essence, an affiliate marketer’s “store” is open for business 24 hours a day, seven days a week.