We’ve talked about influencer marketing and referral marketing. Now, it’s time to talk about affiliate marketing. With all these types of marketing, where does one end and the other begin? They’re all related, but each is a little different.
Today, we’re talking to Arlen Robinson, chief operating officer and co-founder of OmniStar Interactive. Arlen describes the differences between types of marketing, how to set up a structured program for affiliate marketing, and how to recruit and create incentives to bring affiliates on board.
Some of the highlights of the show include:
- Affiliate Marketing: People who are outside affiliates, not customers, promote your business, products, and services
- Referral Marketing: Your customers who refer your business to people they know
- Influencer Marketing: Someone who has their own audience and following
- Every business should implement an affiliate or referral program because of stats
- Due to abundant shopping options being available, consumers get overwhelmed
- Create an affiliate program by defining reasonable goals and promotional strategies, as well as ways to measure success
- Find and recruit affiliates via online directories and social media; be competitive and get their attention by offering sizeable incentives - cash is king
- Other incentives could include offering products, merchandise, and gift cards
- Affordable solutions are available to internally track and manage sales, payment process, and content influenced by individual affiliates
- Use a viral loop to create a constant flow into your affiliate and referral programs
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