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Affiliate Marketing mainly is a method of promoting products/services online.
For example, a publisher receives some rewards for every customer who takes a specified action. This action can be a purchase or visit the advertiser´s site.
I think it has some advantages since allows to promote our product/services in some very specialized blogs/sites, with very concrete and optimized content, generating a regular flux of clients.
Banners, Text ads, Email ads, Signup forms, signatures, blog posts, logo´s and videos are some tools of affiliate marketing.
In simple ways Affiliate Marketing is making commission by promoting other people's product or services without actually owning it.
How it works is like ,Affiliate puts your ad on their website then the customer clicks on that ad and converts .Conversion are tracked and the result is affiliate gets a commission and you get a sale.
The definition of the word is within the word itself , ie Affiliate | Marketing. Marketing the affiliate who has chosen to partner with you in order to exchange promotion of the products and service your company provides or theirs digitally (via internet) so as to generate online sales and advertise. In some Affiliate marketing associations, one is being paid by commission to promote the other without being offered the ownership or any authority to the product or service, this can also be done by both the parties depending on their needs and contract.Affiliate marketing can put to use in the following ways ; Request to post necessary ads or banners on to the affiliate's website. These ads will be redirected to your site through conversion of traffic. Increased traffic provides you with sales and to your affiliate the promised commision. One other way to do this is via social media platforms such as Facebook ,Google+ or Linked In, where they can help you to advertise your company via their social media network. I hope this answers your question.