Glossary of commonly used and discussed terms in Partner Programs
What is an Affiliate Program?
An affiliate program is a type of sales or channel partnership in which a company partners with individuals or organizations (affiliates) to promote and sell its products or services. Affiliates are typically website owners, bloggers, or social media influencers who promote the company’s products or services through their own channels, such as websites, blogs, social media, and email lists.
Affiliates are typically paid a commission for each sale that results from their promotion, which is tracked through unique affiliate links or tracking codes provided by the company. Some of the main components of an affiliate program include:
- Commission structure: The percentage or amount of commission that affiliates will earn for each sale.
- Tracking and reporting: A system for tracking and reporting on the sales and commissions earned by affiliates.
- Marketing materials: Resources such as banners, links, and product information that affiliates can use to promote the company’s products or services.
- Support and communication: Support and communication from the company to help affiliates understand the program and be successful.
Affiliate programs can be a cost-effective way for companies to reach new customers and increase sales, while providing affiliates with the opportunity to earn money by promoting products or services they believe in.
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”Torchlite checked all the boxes. We were looking for a PRM that enabled us to engage and collaborate with partners in a meaningful way, and Torchlite makes that all possible.Anthony KapitanskiHead of Partnerships at Chili Piper