Affiliate marketing is a performance-based strategy where businesses partner with affiliates – individuals or companies who promote their products or services in exchange for a commission on sales or leads generated. This approach leverages the reach and influence of affiliates, who use various channels like blogs, social media, and email marketing to drive traffic to the business’s offerings. Affiliate marketing is cost-effective, as businesses only pay for actual conversions, making it an attractive option for increasing brand exposure, expanding audience reach, and driving sales through trusted third-party endorsements.