Coronavirus has emerged as a dangerous disease in the 21st century. It has spared neither the people nor the Affiliate Marketing business. Every individual and business has seen the devastating impact of coronavirus on their lives. But the business sector in particular has been greatly affected.
Many marketers say the effects of the coronavirus pandemic are worse than the 2008 financial crisis. Keeping this in mind, today we will discuss the changes in the field of affiliate marketing.
Hello, my name is Rohit Mehta, I am associated with digital marketing field since last 10 years. I am offering my service as a Digital Consultant in IMPRI.-Rohit Mehta
So guys let’s start.
What is affiliate marketing
Find a product you love, recommend it to others, and earn a piece of profit for every sale you make. Have you ever thought that you can make people just by referring them to Amazon, Flipkart and other online sites? This way of earning money online is known as Affiliate Marketing.
Affiliate marketing can be done in several ways listed below:
- Social networking
- SMS and Email marketing
Out of these 3 methods, blogging has been the most successful way of doing it. Here’s how it is done:
- Find a product to promote.
- Sign up for an affiliate program.
- You will get your unique affiliate link.
- Promote it on the internet.
- When someone purchases a product through your link, you will be paid a commission.
Major impact of coronavirus on affiliate marketing industry
Affiliate marketing and marketer is present all over the world. Affiliate Marketers are those who sell the products of any company to people through an affiliate link, as well as some money as commission, the Affiliate Marketer gets.
Ever since the COVID-19 hit the world, there has been a big drop in affiliate revenue. The decline in affiliate revenue has become a major challenge for affiliate marketers. So those marketers who were earning by selling other company’s products and services are now faced with the challenge of earning revenue from affiliate marketing.
Not only the revenue but also the commission has come down due to the COVID-19 impact. This is widespread as the impact of the coronavirus has spread throughout the world economy.
Not only this, Amazon and many big affiliate companies have also suspended many accounts.
Now the situation is very difficult, in early 2021 many affiliates started their business again, but the second wave of Corona has brought the same situation again.
People do not understand whether to buy or not, because of this Affiliate Company is also not able to launch its product. He doesn’t understand what the market demand is.
This is the reason why Affiliate Marketing is falling. The demand for food, medicine, household goods, books, music, videos, software, apparel and accessories has increased, but the fear of the third phase is now haunting the company.
If the third phase of covid19 becomes more dangerous then some of the remaining businesses will also be lost.
If you want to earn money from digital market and you have not started Affiliate Marketing yet, then start today. It is a viable option as a second income source. If done successfully, it can give you the freedom to quit your 9-5 job. If you are considering this as your part-time job, go for it.
But no one can say when the current pandemic COVID-19 will end. It has changed the entire marketing system.
However, the effects of COVID-19 on affiliate marketing are remarkable and unprecedented.
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I like this article because it was helpful and educational. Beautifully explained. Thanks.