We ‘ve already covered affiliate marketing and how it works in a previous article, which may have made you think that this solution is very similar to influencer marketing today . The observation of similarity is not really unfounded, but we also consider it important to clarify the significant differences between the two areas, as there are also differences in terms of their operation and goals. To notice the fundamental differences, it is worth first clarifying which one works.
How does influencer marketing work?
In influencer marketing, we work with opinion leaders who, through their reputation, can help us make our brand as widely known as possible. This form of marketing is one of the fastest and most effective ways to build a brand, as the entire communication of information by opinion leaders is more personal and credible, so there is a greater chance of curiosity about our brand in their followers.
If you want to check the success of your influencer marketing campaign, you might want to consider the following:
- Number of new followers. It’s worth looking at whether the following camps on our social media platforms grew better during the campaign period than before. If so, the campaign has increased traffic on our social media platforms.
- Interaction. In addition to examining the number of followers, it’s also worth reviewing how comments, likes, shares, and so on. whether any progress has been made in Social media platforms typically have the ability to retrieve a variety of statistics that can provide us with useful information about the effectiveness of a particular campaign.
- Website traffic. Successful campaigns not only increase traffic to social media platforms, but also to the business website and, optimally, the number of conversions.
- Number of subscriptions. Last but not least, it’s worth checking to see if more people signed up for our newsletter during the campaign than before.
The above indicators can therefore provide us with useful information about the effectiveness of the campaign, but it is important to mention that changes in all of these also depend to a large extent on the purpose of the campaign.
How does affiliate marketing work?
Affiliate marketing allows us to promote our products on websites that are beyond our control. Unlike influencer marketing, affiliate marketing is based on partnering with different companies and bloggers. In the course of the cooperation, a kind of commission system is created, so if a purchase is made from appearing on a certain page (eg a blog), a certain percentage of it is given to the display page.
To monitor the success of our affiliate marketing campaign, consider the following metrics:
- Average quantity ordered . Let’s see if our customers have ordered only the minimum quantity or if more and / or more expensive products have been added to their cart.
- Sales volume. If we see an increase in sales during the campaign period, we can be sure that we are on the right track.
- Website traffic. In this case, too, it is worth looking at the increase in website traffic in addition to the number of subscriptions and downloads.
So affiliate marketing and influencer marketing may have seemed similar at first glance, but now that we see how they differ, it’s worth thinking about and planning which strategy we want to use to achieve our goals, or possibly a combination of the two.
For the sake of easier comparability and better transparency, we have created an infographics in which we would like to illustrate the significant differences between the two areas.