Affiliate marketing focuses on partnerships with established companies, publishers or blogs with a goal to grow revenue by offering your brand’s products, sales, offers and discounts. As a brand, you may not need to search for an affiliate because there are affiliate marketing service providers that connect you with reputable sites.
Affiliate marketing uses a few metrics to gauge success, such as:
- Average order value
This metric provides information on purchases of each lead, including the products chosen.
- Sales volume
Sales volume tracks your brand’s sales numbers to see whether your products (promoted through the affiliate programme) are increasing in sales.
- Site traffic
Site traffic, as its name explains, checks to see if there is an increase in the number of new lead signups.
In addition to these metrics, there are a number of differences between influencer and affiliate marketing. As mentioned above, affiliate marketing promotes content on an affiliate’s website or platform and will receive a percentage of sales when purchases are made. Influencer marketing, on the other hand, partners with influencers for them to promote your products on their social media pages. Instead of receiving a cut from the sales made, influencers are paid through an agreed fee, payment per post or they are given free products.
Influencer marketing boosts brand awareness while affiliate marketing generates more leads and sales. Very often, you will find influencers on social media platforms such as Instagram, Facebook and YouTube while affiliate marketing is other companies with a similar niche to your product.
Influencer marketing gauges their success according to the addition of new followers, increased social media engagement, increased website traffic or according to lead generations.
These are the major differences between affiliate marketing and influencer marketing! Hopefully, we managed to shed some light on your questions and doubts!