Definition
Affiliate marketing is a performance-based marketing strategy where a business rewards affiliates for each customer brought about by the affiliate's marketing efforts.
Key Components
- Merchant
- Affiliate
- Product or Service
- Commission
Examples
Example 1
<a href="https://example.com/product?ref=affiliateID">Buy Now</a>
Example 2
<a href="https://example.com/product?ref=affiliateID">Get 20% Off</a>
Benefits & Challenges
Benefits
Cost-effective marketing
Increased brand reach
Challenges
Tracking and attribution
Managing multiple affiliates