Influencer and Affiliate Marketing: Complementary Strategies for Partnership Marketing
When influencers first hit the scene, many brands gave them little attention. This is understandable, as few could predict just how impactful these social media gurus would become.
Fast forward to 2023 and no one is questioning the utility of social media influencers. A talented influencer can accelerate your brand growth and help you make thousands of consumers aware of your products.
Influencers have become a powerful force in the marketing world, helping brands build brand awareness and connect with new audiences. However, as the influencer landscape has evolved, the lines between influencer and affiliate marketing have become increasingly blurred.
The differences between influencer and affiliate marketing
Traditionally, influencer partnerships have been managed by separate internal teams and focused primarily on upper-funnel KPIs, like building brand awareness through impressions. Compensation for influencers has also classically involved a mix of fixed fees and free products in exchange for guaranteed content.
On the other hand, affiliate marketing is a full-funnel channel, reaching customers at all stages of the sales funnel. Affiliates can use a variety of tactics, including coupons, retargeting, product reviews, mobile strategy, and more, to drive traffic and sales for brands.
Affiliate marketing is particularly useful for retail brands, as it allows them to pay only for desired outcomes, it’s easy to implement, and it drives a better return-on-investment than most marketing channels.
How affiliate and influencer marketing complement each other
Despite their differences, influencer and affiliate marketing are complementary strategies that can work together to help brands maximize their ROI.
Brands are now looking for reliable and efficient ways to measure the outcomes of their influencer investments, and using the rails of the affiliate partnership marketing ecosystem can be a catalyst in that shift. Compensation structures for influencers are also evolving, with brands eager to replicate the success of affiliate marketing by paying influencers based on specific actions, such as sales.
When used in conjunction, influencers and affiliates can help brands build trust and credibility, connect with new audiences, and maximize their return on ad spend.
Micro-influencers (influencers with followings of around 10,000 or less) have smaller followings can be particularly cost-effective for connecting with niche markets, as these individuals often don’t require the same expensive and inflexible compensation that larger, well-known influencers request.
Converge channels to take your partnership marketing to the next level
Influencer and affiliate marketing are complementary strategies that work together to help brands reach customers at all stages of the sales funnel. By incorporating both influencers and affiliates into their partnership marketing mix, brands can maximize their ROI and achieve their marketing goals.
To get the most out of these complementary channels, brands need a holistic-minded partnership marketing team that can create, manage, and optimize both influencer and affiliate programs.
Acceleration Partners has expertise in both influencer and affiliate marketing. Whether you’re new to influencer marketing or have been using it for a while, we can help you develop an impactful program that’s perfectly aligned with your affiliate strategy.
Don’t miss out on the incredible benefits of partnership marketing! Incorporate both influencers and affiliates into your strategy to maximize your return on investment.
Helping brands unlock growth through partnerships.