Which of the following best defines affiliate marketing?

Affiliate marketing is best defined as a performance-based marketing strategy that rewards affiliates for generating traffic or sales through their promotional efforts. This approach allows businesses to expand their reach by leveraging the audience that affiliates already have. Affiliates receive a commission for each sale or action derived from their marketing efforts, creating a win-win situation for both parties. This model incentivizes affiliates to effectively promote products or services, thus aligning their efforts with measurable results.

In contrast to other options, affiliate marketing is distinct because it specifically focuses on the performance of affiliates rather than embracing broad strategies like social media promotion or direct sales. Additionally, it is not a traditional advertising approach; it harnesses the power of online networks and influencers, diverging from the foundations of conventional advertising.