Hello Guys.
This is Prabhjot Singh from INDIA.
How are you all? I hope everyone is fine and doing well.
In my previous post, I explained Affiliate Marketing, if you haven't checked that post, first read that particular article to learn more about Affiliate Marketing. Click the link below to visit the post
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Terms Used In Affiliate Marketing

1. Lead - A lead is a person who shows some interest in your product or service but has not converted into an actual paying customer. We share our products or services information with our Leads, In return they perform small transactions like joining your email list, spending time reading your blogs, and scrolling your creative posts on social media but they don't pay any money for your product or service.

In the world of Marketing, not every Lead is a quality Lead. By quality leads, I mean people who are not just interested in your service or product but they actually become buying customers.

2. Affiliate Link - These are the unique links provided to you by your Affiliate Program. For e.g., I'm enrolled in an Affiliate Course named "Lead Generation Course". Every time someone clicks through my Unique Affiliate Link, the company which provided me the course gets to know about it. They evaluate everything from how many clicks I get on my unique link and how many actual conversions I did. On processing my report, they will pay me my commission based on the sales I made.

These affiliate links are basically your identity through which the company communicates with you. The link may be your username or something you choose to be.

These links work as a tracker also and help to track how many sales or visits you have got through your affiliate.

3. Niche - A Niche can be defined as a small industry or a small group that deals with specialization. for. e.g. You are a doctor by profession, so the doctor is a niche for you. because you're specialized in your work. You may think, there are different types of doctors. let's say an Orthopedic, Heart, lungs doctor, or a general doctor. These could be referred to as a Sub-Niche or a Niche within a Niche.
P.s. You don't have to call a Heart surgeon a Sub niche. It is still a Niche. A niche refers to a specialization. for e.g., Affiliate Marketing is a niche within the Marketing Industry. Here, Marketing is also a Niche but it is an extended concept of different types of marketing within this term.

4. Conversion - When your audience buys your product or service through your landing page, website, or social media. It's a Conversion. we have learned in the above topic about leads and how they get converted into buying customers, the term used is called a conversion. We can track the no. of conversions we did through our unique affiliate link as discussed earlier.
In other words, Conversion is what happens when a lead pays a visit to your site and performs the desired action i.e, buying a product/service, signing up for something or subscribing to a service, etc.

5. Commission - The percentage of profit, a product owner pays to the affiliate is known as a commission (in affiliate marketing). When you sell a product/service the product owner will pay you the percentage of the profit he made through your sales.
for. e.g., If I sell an affiliate course that I'm enrolled in I will get 50% of the commission out of it. (profit percentage differs from company to company, product to product. some companies even offer 75% on commission and some give you 5%).

This was all for the day

Thank you
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@reminiscence01