The affiliate marketing business model can be simply defined as a partnership between the merchant and the promoter where the promoter will get a certain percentage of the net sale as commission when the promoter is able to refer a customer to purchase the merchant's product. This is very useful when the newbies have just started this business and they do not have their own product. They will be able to start this business fast by promoting other people's product.

The list building model on the other hand can be simply defined as a process where you will be collecting a group of customer's details using a professional autoresponder and following up with them consistently over a period of time with information or resources that they are interested in.

From the above definition, it will be a very powerful strategy if we combine the affiliate marketing strategy with the list building strategy. As you will be able to start the business fast by promoting other people's product, you will be able to build your own list at the same time while you are making some sales. The easiest approach is to have a simple squeeze page where the main purpose is to get the visitors details.
When you have the squeeze page, you will be using the list building to build your list and you will be redirecting your subscribers to your affiliate link once they join your list. This ensures that there is the first point of promoting the product to them. Even if they do not purchase the product, you will still be able to follow up with them through email as you have their contact details.

This is very powerful as most of the sales come from the following up emails with the subscribers. The main reason is because the subscribers will have already received several emails from you and they are more familiar with you. People will only purchase products from someone that they can trust and you will want to make sure that you are the person that they can trust. Do put in the effort to build a good relationship with them and you will be richly rewarded.