Affiliate marketing is a marketing practice in which a business rewards one or more affiliates for each visitor or customer brought about by the affiliate’s marketing efforts.
Examples include rewards sites, where users are rewarded with cash or gifts, for the completion of an offer, and the referral of others to the site. The industry has four core players: the merchant (also known as ‘retailer’ or ‘brand’), the network, the publisher (also
known as ‘the affiliate’), and the customer.
The market has grown in complexity to warrant a secondary tier of players, including affiliate management agencies, super-affiliates and specialized third parties vendors.
There is amazing benefit to offering an affiliate program. It creates a built in referral process and a way to offer a gift of compensation to your referral partner. It is a win-win. We tell our clients about programs, books, trainings, events, etc. all the time. This is a way to get paid for what you would be doing anyway.
How can you use the affiliate concept in your business?