Affiliate marketing is a type of performance-based marketing in which a business rewards one or more affiliates for each visitor or customer brought about by the affiliate’s own marketing efforts. Typically, affiliates are provided with a unique link or code to share on their website or social media platforms, and they earn a commission or referral fee when their visitors or followers make a purchase through that link. The business benefits from increased sales and the affiliates benefit from a commission on those sales.
An example of affiliate marketing would be a company called “Sneaker Co.” that sells a wide range of footwear products. They decide to set up an affiliate program and partner with various fashion bloggers and influencers. These bloggers and influencers promote Sneaker Co.’s products on their websites and social media platforms by sharing unique links or codes that are specific to them. When their followers click on these links and make a purchase, the blogger or influencer earns a commission on the sale. This benefits Sneaker Co. by driving more sales to their website and it benefits the bloggers and influencers by giving them a way to earn money through their own efforts.