Only one in three of business owners can accurately describe what affiliate marketing is, according to a new study.
Marketing company, Optimus Performance Marketing (OPM), which polled 516 small to medium sized UK business owners, found that 34 per cent didn’t know what it was while 72 per cent of business owners admitted they should try to invest more time in learning more.
When asked if they’d ever considered launching their own affiliate marketing programme for their business, 26 per cent said they already had one in place and 31 per cent said they would consider launching affiliate activity.
External agencies were the most popular choice (51 per cent) for businesses launching or considering launching an affiliate programme.
Affiliate marketing is said to be a way for a business to make money online in which online publishers are rewarded for promoting a particular product, service or site.
Mark Russell, Managing Director at Optimus Performance Marketing, commented on the findings: “The results are rather similar to what we expected amongst small to medium business owners, with a lack of knowledge apparent which is a shame especially seeing as though so many of these business owners had an ecommerce element to their company and a transactional website.”