Final answer:
Affiliate marketing is a web-based strategy that rewards individuals for linking to a company's site to help drive traffic and sales, often utilized by social media influencers and brand ambassadors.
Step-by-step explanation:
Affiliate marketing is a web-based business strategy that rewards individuals or entities for driving traffic and sales to another company's products or services, typically through links on a blog or social media page. This strategy is employed across various online platforms, leveraging the presence of social media influencers and brand ambassadors.
Influencers create content and share product recommendations, often receiving compensation either through direct payments, affiliate sales commissions, or free products. Similarly, brand ambassadors promote brands in a more formalized partnership, which can significantly increase consumer trust and company sales. It is increasingly important for ambassadors to disclose their relationships with brands to maintain transparency with their audience. The proliferation of this marketing strategy is indicative of changing consumer habits and the rise of social media as a powerful advertising tool.