Source: socialpubli.com
Brands tend to move to personalized approach and word of mouth, leaving the urge to get to as big audience as possible at once. If we take a closer look at the numbers, we’ll see the following picture. While previously in the list of influencers there could be up to 10 influencers in general, nowadays, the amount may be equal to thousands. Doesn’t it look similar?
Influencer vs Affiliate Marketing
It is easy to mistake influencer marketing and affiliate marketing as the essence of each is brand promotion in return for monetary compensation. In addition, some influencers may be signed up for an affiliate program, what makes these terms interlapse even more.
The most obvious differences between the two marketing forms lie in their payment method and the channel of promotion. Affiliates are paid a certain percentage of a specified action, like conversion. Influencers are paid upfront with a compensation that was agreed upon, whether it is a general/per post fee, or a free product. Considering channels of promotion, it is usually web and social networks accordingly.
But what is really distinctive about these forms is the way affiliates and influencers advertise. Affiliates make use of the creatives that are usually depersonalized (i.e., have no relationship with the affiliates themselves). Influencers, in turn, use their personal brand for a promotion. They implement it into their lifestyle by testimonials, native advertising, and product placement.
And, what is important, both affiliates and influencers are great at what they do, supported by experience and vision. It is not about who is more effective. The key is that affiliates sell goods and services, and influencers sell emotions and lifestyle.
How to complement influencer and affiliate marketing with each other?
Since affiliate marketing and influencer marketing do intercept with each other, it is possible to use their distinctive features for the enhancement of your performance. Both these forms are successful when applied within specific campaigns. Thus, define your goals, your audience and where they spend most of their time, and your budget to find out which form is handy in particular situation.
If you prefer to deal only with influencers, you may want to try the following ideas. First, what about applying affiliates’ payment method? For example, take CPA (cost per action) model that implies paying for every needed action carried out. That would provide you with flexibility and enhanced control over budget as you will be able to see the quantitative results of your influencers’ performance clearer. Next, borrow the methodology for data recording and ad campaigns optimizing from affiliate marketing. With its help, you will be able to keep track of the metrics as well as traffic and performance indicators used by affiliates that at least lead to figuring out the most effective influencers for each situation.
Do not miss the opportunities to boost your efficiency. Try to use the mix of influencer and affiliate marketing to see the difference in your performance. Strengthen the forms with the advantages of each other. Switch between influencers and affiliates to get the most out of each case or use both of them at once. To be the leader nowadays opts for being flexible and social. And there is the point where you can merge affiliate and influencer marketing.