Creating more and more return guest has been an essential part of business sustainability nowadays.
Businesses are no longer looking to search for new consumers for their product, but their long term goal is to retain the customers. In this way, there are maximizing the ROI of all the marketing cost. This type of marketing strategy is called affiliate marketing. However, affiliate marketing programs and publishers need an intermediary. That intermediary is an affiliate network.
Affiliate network allows companies to reach a larger audience by promoting their affiliate programs to all of the publishers, and for the publishers to find an affiliate program which is suitable for their website.
Finding the right affiliate network is very important for businesses. The right affiliate network will be able to help business owners to create a central database for affiliate offers that can be easily organized and filtered depending on a set of specification.
It also allows you to participate in multiple programs through a simple registration to a single network and provides analytics, reports and reliable payment tools and services.
Affiliate marketing offers bloggers, marketer and industry content creators to receive more money. There are few ways compensation is counted:
- Revenue Share Model
The publisher gets a share of the revenue-generating from the sales of the advertisement that was placed on the publisher’s site.
- Fee for action
The publishers receive payment after a visitor of the site completes a certain action. This action can include; clicking, participating in their newsletter and so forth. There are a couple of payment models that were developed based on this action such as:
- Pay per Click is compensation that is based on the number of clicks that the website merchant received.
- Pay per acquisition is based on a certain action such as subscribing to the merchant’s newsletter or making a purchase of an item.
- Cost per lead is when publishers receive payment for the contact information of interested visitors.
- Pay per impression is when the payment is based on the number of times a website visitor views the ad.
Payment platform is a merchant service provided by an e-commerce application that manages and authorizes the credit card or direct payments. These payment platforms have become essential and supported affiliate payments systems.
Affiliate payment methods used to be difficult. As the credibility of the payment platform arose, international transaction becomes easier.
Underneath is the list of the best payment platform that best used to get paid by affiliate networks:
Paypal is one of the most popular options for receiving payment or doing an online transaction. It is widely used for websites, companies, and individual. It has 227 million active users, services more than 200 markets and most importantly supports 25 currencies.
Dependable on your payment type, PayPal enables you to instantly send and receive funds. Fees tend to below as well. They accept foreign currencies and will exchange it to your native currency for a small amount of fee.
This company offers similar services like PayPal. However, there are some limitations. Skrill supports more countries than PayPal. Payments are processed instantly, and you can receive payments and send funds from and to both your bank account and credit card.
Payoneer works in 200 countries and supports 150 currencies. You are also able to withdraw funds from your Payoneer account and transfer it over to your local bank account. However, they will need your permission for you to receive money.
They are able to support you with a prepaid card that is linked with other services that they provide to your Payoneer account. The best part is, you will be able to use it worldwide!
There is something much more interesting in using the traditional banking system. The banking system as well has evolved that it has become easier to receive payments from overseas. It is very easy to do a wire transfer. However, the cost that banks levy for such transaction tends to be on the higher side. Converting one currency to another tends to attract high cost as well. However, on the bright side, they tend to be much secure rather than online payment platforms.
To create an account on the online payment platforms, they will require you to hand over some data which tends to be very personal. By thrusting our data to a third party server, we also increase the chance of identity theft, credit card fraud, etc.
There is a lot of payment platform that provides attractive services and best alternative to be one of affiliate payment methods. However, there is a couple of question that an individual should consider when it comes to choosing the best payment platform for them. They need to be sure of whether the payment platform fit their business and their needs. They also need to ensure that the payment platform is reliable and trustworthy. Aside from those two aspects, they need to calculate which payment platform that would give them the best rate for the services that they need the most. Even though, whenever someone juggles with cost, they need to think further ahead and consider whether the low cost is provided with a quality of services that are offered or does the low cost simply indicates that the services are low in quality as well.