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Affiliate marketing is a performance-based strategy where individuals or businesses earn commissions by promoting another company’s products or services. Affiliates share links through various channels like websites, blogs, social media, or email, directing potential customers to the merchant’s site. When a sale or desired action occurs through these links, the affiliate earns a percentage of the revenue. This marketing model is cost-effective for businesses, as they only pay for actual conversions, and it’s an attractive option for affiliates who can monetize their online presence without creating their own products.