Which of the following best describes affiliate marketing?

Affiliate marketing is best described as a performance-based marketing strategy where affiliates promote a company’s products or services and earn a commission for each sale or lead generated through their efforts. This model relies heavily on the relationships built with various partners, such as influencers or content creators, who leverage their platforms to reach a broader audience.

By compensating partners based on performance, affiliate marketing aligns incentives between the company and its affiliates, driving motivation for affiliates to effectively market the products. This type of marketing has gained significant popularity due to its ability to generate measurable results and manage costs effectively, as companies pay for tangible outcomes rather than just advertising space or impressions.

The other options involve different marketing strategies that do not encapsulate the essence of affiliate marketing. For instance, increasing customer loyalty through discounts pertains to retention strategies, while creating engaging social media content focuses on content marketing. Traditional advertising in print media describes a completely different medium that doesn't involve performance-based partnerships.