In order to understand better what these two forms of marketing better, we will seek to answer the following questions;
What is it?
What is it’s function?
When do I use it?
Just a modern way of saying “Brand Ambassador”, any sponsored Athlete, or Celebrity. In this form of marketing, you are simply strategically placing a product or service in the hands of someone with an audience that you would like to reach. With so many digital platforms, and channels such as Spotify (Audio), Youtube (Video); there’s now a plethora of individuals who have built organic audiences, and can be very valuable assets to any business. Influencer Marketing can be, and should be used to make an audience aware of a product or service. Influencer marketing often is used with the marketing goal of AWARENESS.
Affiliate marketing with a profit sharing model that can be very attractive for businesses because it is based on performance; an intended action or goal must be reached prior to payment. In this form of marketing, brand ambassadors are rewarded with a portion of the profits from the sale of an item. In Affiliate marketing, unique tracking codes are used to measure the performance of Affiliate partners. Affiliate Marketing is used with the marketing goal of CONVERSIONS.
These two forms of marketing are similar because they require “Brand Ambassadors” or Influencers. But are different in what their goal is. Influencer marketing should be used with the primary goal of Awareness; and Affiliate marketing should be used with the primary of Conversions.