Category: Referrals & Affiliates
Welcome to our Online Referrals & Affiliates Marketing guided blogs page. But, although we hear it all the time – What’s the difference between referral marketing and affiliate marketing?
Both strategies rely upon incentives to drive revenue, but the underlying strategy and techniques vary significantly. Affiliate marketing has a similar structure to referral marketing as they both use incentives to drive new customer revenue.
What’re Referrals & Affiliates Marketing?
Referral marketing revolves around the shared relationship between your customers, their friends or associates, and your brand. Current customers personally promote your brand to new users to earn rewards, ideally for both themselves and their friends.
Affiliate marketing falls under a large umbrella of affiliate programs. The affiliate programs are also associate programs. In addition, professional affiliates handle the affiliation process during the marketing period. If you have ever asked yourself what are affiliates, and more importantly what they do, then keep reading.
In general, the key difference is that affiliate marketing focuses on third-party brand advocates to send customers to your business for a flat fee. Where referral marketing is focused on rewarding current customers to invite their friends to try your product/service.
There are distinct nuances with each that rely on consumer motivations, digital marketing tactics, and overall product/market-fit.
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