Affiliate marketing is a type of performance-based marketing. Where, a business rewards affiliates for promoting their products or services and driving sales or leads.
Essentially, affiliates are individuals or companies that promote a business’s products or services. Various marketing channels are used for AF. Some examples are websites, social media, email marketing, and paid advertising. The business then pays the affiliate a commission for any sales or leads generated as a result of their efforts.
Pay per sale (PPS) – In this model, the affiliate earns a commission for every sale they generate.
Pay per click (PPC) – This model, the affiliate get a commission for every click they generate on the business’s website.
Pay per lead (PPL) -The affiliate earns a commission for every lead they generate, such as a customer filling out a contact form or signing up for a free trial.
Two-tier affiliate marketing – Affiliate earns a commission not only for their own sales or leads but also for the sales or leads generated by affiliates they refer to the program.
Multi-level marketing – In this model, affiliates earn a commission not only for their own sales or leads but also for the sales or leads generated by the affiliates they refer to the program. As well as the affiliates those affiliates refer, and so on.
Overall, affiliate marketing can be a cost-effective way for businesses to reach new customers. Increase in sales, while also providing affiliates with a way to earn extra income through promoting products or services they believe in.
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