affiliate-marketing

Vocabulary Word

Definition

Affiliate marketing is a type of marketing where you earn a commission for promoting other people or company's products. You refer people to these products and earn a piece of the profit from each sale you make.

Examples in Different Contexts

In online retail, 'affiliate marketing' is a performance-based marketing strategy where businesses pay commissions to external websites for traffic or sales generated from their referrals. An e-commerce manager might say, 'Affiliate marketing has been an effective tool for driving sales and expanding our online presence.'

Practice Scenarios

Tech

Scenario:

The market for our newly launched software is competitive. Are there any methods to increase user acquisition without heavily investing in advertising?

Response:

An affiliate marketing strategy could contribute to user acquisition. It would motivate our existing users to promote our product to others.

E-commerce

Scenario:

Our brand has a strong following, but we're looking to capitalize on our popularity. How can we leverage our community to enhance our sales?

Response:

Launching an affiliate marketing program can capitalize on our community. Influencers and bloggers could become brand ambassadors promoting our products.