**Affiliate marketing is a simple way for businesses to increase reach and raise brand awareness without breaking the bank. It involves developing partnerships with complementary businesses or starting one's own affiliate program where influencers promote products for a commission. Key best practices include partnering with similar target audiences, reaching out to trusted review sites, ensuring systems are in place, defining success metrics, finding the right affiliates, signing contracts, and creating a resource center for training affiliates. By following these tips, businesses can successfully launch an affiliate marketing program and drive growth.