what is Affiliate marketing
Affiliate marketing is a performance-based marketing strategy where individuals or businesses (affiliates) promote a company's products or services and earn a commission for each sale, lead, or action generated through their referral.
Key Components of Affiliate Marketing:
- Affiliate: The person or entity promoting the product or service.
- Merchant: The company or individual offering the product or service.
- Affiliate Network (optional): A platform that connects affiliates with merchants, providing tools like tracking links and payments.
- Customer: The end-user who completes the desired action (e.g., purchase, sign-up).
- Tracking System: Unique links or codes track the affiliate's referrals to ensure they get credited for sales or actions.
How It Works:
- An affiliate signs up for an affiliate program.
- The affiliate promotes the product/service using referral links through their blog, social media, email, or other platforms.
- When someone clicks the affiliate link and completes a purchase or specific action, the affiliate earns a commission.
Benefits:
- Low startup costs.
- No need to create your own products.
- Flexible and scalable.
- Passive income potential.
Would you like tips on getting started with affiliate marketing or suggestions for platforms?