The more things change, the more they stay the same. During the age of e-commerce, this old adage is more accurate than ever. Just as mail was mostly replaced by e-mail, wallets are now being gradually replaced by e-wallets, and as we shift from traditional commerce to e-commerce, marketing is shifting to follow suit.
The exponential growth of the e-commerce market has inspired online businesses to modernize their marketing approaches and driven a boom in affiliate marketing firms. If you’re looking to get into the game as an affiliate, now is the right time, but to do it right the first thing you’re going to need is an e-wallet.
Why Affiliate Marketing?
People often fear the new, it’s human nature. But we’ve now reached the tipping point of the digital economy, when people are finally shedding the distrust of new technologies. And why not? An e-wallet is not fundamentally different from a wallet; it’s just updated to suit our current needs. And affiliate marketing is not fundamentally different from traditional marketing, it’s just adapted to the way people now behave in the digital economy.
Many affiliate marketers are facing roadblocks when it comes to managing their digital cash flow. Traditional banks are poorly equipped to deal with the needs of modern e-commerce and this is especially bad when it comes to affiliate marketers, who need to operate a high frequency of small incoming and outgoing payments.
Simply put, affiliate marketing is a system in which one entity (the affiliate) directs traffic to a business’s online properties by linking to them from their own property. For each visitor or customer they direct to the business, the affiliate is rewarded. When an added layer is included into the system allowing the affiliate to recruit additional affiliates and is rewarded for it, this is known as Multi-Level Marketing (MLM).
This is effective because of today’s connected consumer, distrustful of traditional marketing tactics, is more likely to trust direct recommendations by people they follow. Anybody can become an affiliate, from bloggers, podcasters and YouTubers to people providing a service such as price comparisons, coupon providers, and product discovery services.
Why You Need an E-Wallet
As an affiliate, you want to make sure of three things:
- You receive your earnings in a reliable and secure fashion.
- You don’t blow your profit margin on high fees.
- Payouts are received without delays.
E-wallets are the natural solution to all three of these problems. An e-wallet is a secure online storage space for your money that can be loaded and unloaded at will, just like a real wallet. Unlike other forms of online transactions, such as card payments and bank transfers, using your e-wallet doesn’t transmit any of your sensitive personal or payment card information, making it a much more secure way to send and receive money.
Unlike traditional banking tools, using your e-wallet is instantaneous and has significantly lower fees than bank transfers. Basically, e-wallets act like a digital bank account which allows you to send and receive payments instantly, 24/7. For affiliates receiving regular payouts for the leads they generate for their partner businesses, e-wallets take all the guesswork out of how and when you’re getting paid.
Affiliate marketing has been around almost as long as online business, but it’s only recently that the e-commerce industry has come around to the fact that it’s actually one of the most effective ways of marketing to today’s digital consumer. To operate effectively as an affiliate, it’s essential to use an online payment platform to process your payments and to maintain an e-wallet where you can instantly and securely receive your payouts.