What is Affiliate Marketing?
Affiliate Marketing is a type of marketing that is perfomance-based, where business only rewards affiliates (marketers) for successfully referring new customers or generating sales. Affiliate Marketing has played a pivotal role in e-commerce and other online related ventures where it can help business scale quicker without expanding their internal marketing efforts. The growth of companies like Amazon is highly contributed to affiliate marketing, they where one of the first companies to embrace the model to grow their business.
Business can start their own affiliate programs if they have the technical know-how to build the underlaying tracking and management platform (affiliate program). Otherwise they can join an affiliate network that handles the technical side by providing a platform and a network of affiliate marketers.