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Healthcare Affiliate Marketing – Turning Recommendations into Income Opportunities

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  • Healthcare Affiliate Marketing – Turning Recommendations into Income Opportunities
  • Oct 14, 2019
  • Posted By: MedicoReach
Healthcare Affiliate Marketing – Turning Recommendations into Income Opportunities

Healthcare Affiliate Marketing - Medicoreach

Infographic Content:

What Affiliate Marketing Means in Healthcare?

In the healthcare space, affiliate marketing is the referred to as the practice of recommending a healthcare company’s services and products to targeted doctors, medical executives and other healthcare professionals and in return earning commission whenever the recommendation generates sales. The affiliate earns a profit from the sale of the product purchased through the link shared.

A Sales Tactic Beneficial to Both Brands and Affiliates

  • The U.S. affiliate marketing is expected to reach $6.8 billion by 2020.
  • Advertisers generate 15%–30% of all sales from affiliate programs.
  • About 35% of affiliates earn over $20,000.

Three Parties Involved in Healthcare Affiliate Marketing Process

The Seller or Advertiser: A solo entrepreneur or large enterprise with a product to market and sell for revenue generation.

The Affiliate or Publisher: An individual or a company who promotes the product to persuade customers to make a purchase.

The consumer or Buyer: When the consumer purchases the product, the affiliate gets a commission while the advertiser receives the rest of the profit.

How Affiliates Get Paid?

Pay per Sale – Earns a percentage of the sale price of the product.

Pay per leadGets compensation on lead conversion.

Pay per click – Incentivized based on increase in web traffic.

Reasons to Become an Affiliate Marketer

  • To earn additional incomes besides your permanent job.
  • No headache of handling customer queries and providing customer support.
  • Launch campaigns and receive revenue while working from home.
  • Affiliate marketing is cost-effective and can be started without any hassle.
  • No company restrictions and regulations, you can work as a freelancer.
  • Get paid based on your performance as per your convenience.

Types of Affiliate Marketing Channels

Bloggers: Drive traffic by reviewing the product and promoting it.

Email Lists: Using email lists to promote the products of the seller.

Paid search focused microsites: use of banners and contextual affiliate links to promote products to millions.

Large media websites: Advertise products on the sponsored listings of a search engine or on partner site.

Benefits of Affiliate Marketing for Healthcare Businesses and Professionals

  • Improve sales outreach, drive revenue, and boost ROI with quality lead generation.
  • Get new leads by capitalizing your existing medical network.
  • Collect real-time market reports and field progression data.
  • Market your healthcare products and services to more number of customers.
  • Expand your healthcare business reach through advertisement on the affiliate’s network.
  • Track your healthcare affiliate program performance and analyze what works and whatnot.
  • Increase market exposure of your medical products by partnering with the right affiliates.
  • Nurture your brand portfolio leveraging the popularity and market reach of affiliates.
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