WHAT IS THE DIFFERENCE BETWEEN AFFILIATE MARKETING AND REFERRAL MARKETING?
In affiliate marketing, you don’t know the people you’ll be referring a product to, and your primary reason will be to gain money. That’s financial motivation, and in affiliate marketing, it’s through media such as PPC ads and email to reach many people. You won’t be contacting people you know personally, but anyone for maximum exposure.
In referral marketing, you’ll be focusing more on customer engagement since the people you refer the product to are either your family, neighbors or friends. The motivation lies in trying to create a strong relationship between you as the referrer and a potential customer. That’s altruistic motivation. You’ll be contacting people personally, and this will build a trust-based relationship between business and referral.
You now know where the difference lies in when we talk about affiliate marketing and referral marketing. Let’s look at how to make money online through them.
Here, I’ll outline the steps to follow to make money online via affiliate and referral marketing.
- Set up your presence which can be through a website, blog, social media, email newsletter, etc. It will give you a way in which you can get your message out there and find more customers.
- Pick the best affiliate niche market with many customers. Look at what’s hot and trending on sites such as Amazon.
- Provide useful content to lure more people into clicking your affiliate links.
- Promote products on your website or blogs through product mentions or product reviews. When people visit your site and click a link to buy the product, it will take them to that product’s website. You’ll be getting a commission for every successful and completed sale.
- Look for products that offer referral incentives, and refer the products you’re passionate about. Write a personal review online on how the product your referring is very beneficial to you since you’ll be referring it to people you know personally.
- Sign up for a referral program and find your URL, which you’ll link to that program. You can use a logo on your website or blog for that referral program.
- Provide your audience with great content and other resources that will lure them into clicking your referral link.
- Find the best practices to share, and you can do this by reading what other company’s share and come up with unique content that describes your passion towards the products you’re referring.
- Share your experience with using the product. You can even share video tutorials when using the product, and this will create a trust-based relationship with your referrals. You’ll make a lot of money online by referring products you can prove you have used them and you’re passionate.
Whether you want to engage in affiliate marketing or referral marketing, it’s all but the same thing with the aim of bringing more people to a particular business. Choose the type of marketing that works for you.