Simply put, an affiliate program is an agreement in which a business pays another business or influencer ("the affiliate") a commission for sending traffic and/or sales their way.
This can be achieved through web content, social media, or a product integration. The affiliate gets a unique link (an "affiliate link") from which clicks can be tracked -- typically using cookies.
You will often come across the terms "cookie length" or "cookie life", which simply define how long the cookie will be tracking the user's online activity.
For example, if a cookie has a 30-day life, your referral needs to make a purchase within 30-days of clicking your affiliate link in order for you to get paid -- otherwise the lead will no longer be trackable.
A B2B audience can be particularly valuable, since they are the same customers who are willing to drop hundreds of dollars for a product or service that will help them make money. How could you not capitalize on that?
Of course, there are different types of affiliate programs, and you'll want to ensure you pick the one best-suited for your business. Let's dive into types of affiliate programs, next.