Affiliate marketing is a performance-based marketing strategy where an affiliate earns a commission for promoting another company's products or services. The affiliate earns a percentage of the sale or a set fee whenever someone makes a purchase through their unique affiliate link. Essentially, it's a way to earn money by directing traffic and sales to another business.
Here's a more detailed explanation:
The Core Concept: An affiliate (publisher or online retailer) partners with a business and promotes their products or services.
Unique Affiliate Link: The business provides the affiliate with a unique tracking link.
Commission or Fee: When someone clicks on the affiliate's link and makes a purchase (or takes a specific action like signing up for a trial), the affiliate earns a commission or fee.
No Need for Inventory or Customer Service:Affiliates don't have to manage inventory or deal directly with customers.
Various Platforms: Affiliates can use various platforms like websites, blogs, social media, or email marketing to promote products.
Different Models: There are different affiliate marketing models, including pay-per-click (PPC), where affiliates get paid for driving traffic, and pay-per-sale, where they earn for completed purchases.
