Link Shortening is a technique on the World Wide Web in which a Uniform Resource Locator (URL) may be made substantially shorter in length and still direct to the required page. This is achieved by using an HTTP Redirect on a domain name that is short, which links to the web page that has a long URL [source: Wikipedia].
ClickMeter shortens your URLs along with the creation of the tracking links.
A link shortening service, powered by ClickMeter, called Rebrandly is a link shortener which allows you to create, track and share branded links with a custom domain name. If you would like to test this out, go to www.rebrandly.com.