With the advancement of information technology and the internet, almost everything is now conducted online from shopping to working.
Businesses have also taken full advantage and have started selling online. This also means learning how to market their products online.
Two of the main ways that businesses do this are through affiliate marketing and influencer marketing.
But which of the two is the better option?
Let’s find out more!
Affiliates as a secondary marketing force
You’ve probably gone through the Amazon website and been amazed at the larger selection of products on offer. But have you ever stopped to wonder how you found out about Amazon in the first place?
There is a high chance that you were searching for your products on a different website which then directed you to Amazon after clicking on a product link. This is what affiliate marketing is all about.
Websites that promote your products will send website visitors to your site after clicking on the product link. When the customer purchases the product, then the affiliate marketer receives a commission.
There are plenty of scammy affiliate marketing sites out there, however. Do your due diligence and pick a partner that works well with your business and has your best interests at heart.
Capitalizing on the influencer’s following
One of the best and most effective ways to target a niche or group is by partnering with influencers.
You can find influencers on any social media platform from Twitter and Instagram to YouTube.
These are people whose content has managed to gather a decent following, some in the hundreds of thousands while others in the millions.
Often their followers are part of a well-defined niche and this is what makes influencer marketing so valuable.
You can agree with your chosen influencer to promote your products or business on their page. This is in the hope that a certain percentage of their followers will buy your products.
And since the influencer has already managed to gain the confidence and trust of their followers, it becomes easy to convince them to purchase your products.
Decide on the terms of doing business with the influencer. Some ask for a flat fee paid regularly such as every month. Others will be paid as per a post.
The bottom line is that influencer marketing can be one of the best ways to reach customers. And what’s more, you can reach out to more influencers and watch your business grow.
What to consider when choosing affiliates or influencers
Influencer marketing and affiliate marketing are two of the best digital marketing options available. To choose the right one for your business, you will need to consider a few things.
1. Understand your target market’s demographics and psychographics
Understanding your target audience is the first step towards a successful marketing campaign.
If for instance, you want to reach out to shoppers who need a specific type of product then affiliate marketing is the ideal strategy to use.
On the other hand, if you want to reach out to millennials, they are much more likely to trust the words of an influencer.
2. Consider your budget
If your business is still small you may want to consider affiliate marketing. After all, you will only pay after a customer makes a purchase.
You can also go with influencers but it’s best to choose a mid-level influencer who has thousands of followers and not millions.
In this way, you don’t have to pay too much in remuneration.
Final Word
The truth is that both influencer marketing and affiliate marketing are highly effective strategies.
The trick is to find out where your current business position is and define where it wants to be in the future.
Having done this, decide on which of the two marketing strategies can help you get there.
