Affiliate marketing is a type of system in a sales process where a product owner allows other people known as affiliates to promote their products to other people and earn commission from it. This system helps increase sales because it expands the reach of the product as the affiliates promotes it and recommend to others. It is a win-win marketing tactics as it makes it possible for affiliates to earn money on product sales without creating products of their own.
To make it clearer, affiliate marketing simply means referring a product or service by sharing it through different medium like blogs, social media platforms, or website. It works in such a way that the affiliate earns a commission whenever someone makes a purchase through that provided unique link that is associated with their recommendation. If this system is well managed, it has the potential to become an important part of your business which can deliver a healthy income.