Affiliate marketing is a performance-based marketing strategy where businesses reward affiliates (partners or marketers) for driving traffic or sales to their products or services. Here’s a quick rundown of how it works:
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Affiliates Promote Products: Affiliates choose products or services to promote. They might use a blog, social media, email marketing, or other online channels to reach potential customers.
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Unique Tracking Links: The business provides affiliates with unique tracking links or codes. These links help the business track which affiliate drove the sale or lead.
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Earn Commission: When someone makes a purchase or completes a desired action (like signing up for a newsletter) through the affiliate’s link, the affiliate earns a commission based on the agreed terms.
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Payment: The business tracks sales or leads generated by each affiliate and pays out commissions according to their performance, typically on a regular schedule.
Affiliate marketing is a popular way for individuals to earn income online and for businesses to expand their reach and sales with relatively low risk.