The Difference Between Influencer and Affiliate Marketing
Electronic devices like smartphones, tablets, and laptops have become popular for companies focusing their marketing efforts. This is the digital era, and it is the digital marketing techniques that are more effective, affordable, and faster. Traditional marketing techniques like billboards and other methods are still alive; however, there is now a high percentage of smartphone users, which is less beneficial. The digital era brings several new techniques, strategies, and resources for more efficient and affordable solutions.
Here are a few statistics that suggest the same:
- As of 2020, there are over 3.5 billion Smartphone users worldwide.
- 77% of the people in the USA have a smartphone of their own which they use over the internet.
- Mobile phone app advertising is expected to rise to $201 billion by 2021.
- The number of smartphone subscriptions in 2021 was 6259. This figure is expected to rise to 7074 million by 2024 and 7690 million by 2027 (worldwide)
- There was a sharp 15% rise in smartphone users in India in 2019, with the total number of users now crossing 500 million.
This article is all about affiliate marketing vs. influencer marketing.
What is affiliate marketing?
This is essentially performance-based marketing, where the company rewards the affiliate marketing executive based on the number of customers they bring in. In addition, the digital marketing executive will develop smart solutions to ensure the growth of the company's revenue.
This involves promoting products or services and gaining a commission for doing so. The goals of the promotion can vary; in most cases, it will be a sale. However, it can also be a reward for a lead, free-trial, click to the website, or even a download. This type of program is simple, efficient, and cost-effective.
Here is how this type of marketing works:
- An ad is displayed for the company; this can be on a website, social media network, or blog.
- Once the ad is spotted by someone interested in the product or service, they will click the ad and be taken to the landing page for the ad.
- If the product or service is to the customer's liking, they will make a purchase.
- The entire process, from clicking the ad to making the purchase, the completion of the transaction is tracked.
- The business benefits from the affiliate program by selling its product or service, and the affiliate marketing team is rewarded appropriately. In most cases, this will be a commission.
What is influencer marketing?
Influencer marketing and social marketing have a lot in common. There are many influencer marketing benefits. First, it uses endorsements and product mentions from popular and influential people. This would include people like popular sports people, celebrities, and artists who have a big fan following already. Asking them to promote your product is an effective method of gaining the consumers' trust; this is typically done using social media.
Here are a few statistics:
- This market is set to grow to approximately $16.4 Billion in 2022.
- Over 75% of brand marketers plan to have a dedicated budget for influencer marketing in 2022.
- 68% of marketers plan to increase their influencer marketing spending in 2022.
- This type of social commerce is expected to account for 17% of all eCommerce spending.
- Usage of influencer campaign channels like Instagram was 68% in 2020 and 79% in 2021. Similarly, for Facebook, it was 43% in 2020 and 50% in 2021. For YouTube, it was 36% in 2020 and 44% in 2021.
Affiliate Marketing vs. Influencer Marketing
- Influencer marketing involves partnering with influencers on social media to promote a brand.
- Affiliate marketing is businesses that promote content to gain more leads.
- The main purpose of influencer marketing is brand awareness, while affiliate marketing is lead generation.
- With influencer marketing, celebrities, bloggers, and media personalities help promote the brand, while in affiliate marketing, it is the blogs, companies, and publishers.
- The costing method for influencer marketing will usually involve a flat fee. On the other hand, affiliate marketing is usually a percentage of a successful sale or lead generation.
Benefits of Hiring a Digital Marketing Agency
Digital marketing agencies have the expertise to create the best digital marketing strategy for your business. Gandhi Technoweb Solutions is one such marketing agency with optimal resources and a highly talented pool of professionals with tons of tricks up their sleeves.
Contact a digital marketing agency like Gandhi Technoweb Solutions for your marketing requirements. This is an influencer marketing agency and much more. Here are some of the benefits of doing so:
- You can take advantage of experts who are fully aware of the latest trends and technologies.
- It also means you have someone you can rely on for your marketing requirements and someone that will be accountable.
- You can focus on your business while the professionals prepare top-notch strategies.
Gandhi Technoweb Solutions is a full-fledged digital marketing agency offering a wide range of SEO, CRO, PPC, and social media marketing services. We have completed over 100 projects and have provided this service for over 12 years.
A good digital marketing strategy can do wonders for your business in this digital era. However, it is equally important to hire an experienced digital marketing company, one that has extensive experience and a high level of exposure. There are many different techniques one can take advantage of, like PPC, CRO, reputation management, SEO, Affiliate, Influencer, content marketing, etc.