Differences Between Affiliate Marketing and Referral Marketing

DIFFERENCES BETWEEN Affiliate Marketing & Referral Marketing Affiliate Marketing and Referral Marketing are beneficial in driving new customer growth for different businesses through indirect advocates for making sales and generating a satisfactory ROI. Still, they share significant differences. RELATIONSKIP WITH THE CUSTOMERS CUSTOMER'S LOYALTY REWARD TYPES SHARING MEDIUM AFFILIATE MARKETING • Affiliates will never know the audience personally. • Customers could be the Affiliate's followers. • An affiliate could be an influencer or online business executive whom people follow with trust. • If the trust level is not extremely high, the audience count might drop sooner or later in affiliate marketing. The rewards are handing over incentives in the cash form. Affiliate-done sales on behalf of the business. • With affiliates being the influencers, often they get free products for advertising and fetching customers. • It is through the websites or blog pots that the products and services are shared. • The affiliates have the freedom for mentioning the business in their blogs. • The affiliates can sell the products by means of their websites. REFERRAL MARKETING Recommendation among associates makes referral marketing work. • Sense of personalization influences the high trust level. • A customer base is created when a known member shares the brand. • In referral marketing, since the trusted sources are recommending, so the customers are likely to retain. • The customers referring to the products and services receive the rewards in the form of incentives. • These rewards are basically cashback, discounts, and free products. • The Referral link and the Call to Action are present in the referral program. • The advocates sharing the links do through social media. • Either in the form of a text message or a Facebook post, the referral links can be shared. Both affiliate marketing and referral marketing make significant use of the incentives for generating new customers, driving sales, and earning revenue. Still, the difference between these two types of marketing is determined by the way the advertisers make an attempt to reach out to new audiences and grow customer relationships. Learn more at www.eclicksoftwares.com