Difference between referral marketing vs affiliate marketing?
By SHUBHAKSHMI SWAMI
Referral marketing you reward or incentivize for recommending. Affiliate marketing you pay to sell out products.
Affiliate customer might be a followers of the affiliate. Referral works on recommendations from friends to friends.
Affiliate rewards like incentives in the form of cash. Referral marketing incentives like reward that customer get in return.
Affiliate utilise variety of channel to promote products. Referral rquires more specific approach.
Affiliate are paid a commission for the sales. Referral rewards distributed in the form of disccounts.
Affiliate services are shared via website or some blog posts. Referral contains link and a CTA.
Affiliate can allow advertisers to reach a wider audience. Referral usually a limit to numbers of contacts.
Affiliate trust level is not as high. Referral come friend or the people tehy trust.
Affiliate target publishers, bloggers & influencers. Referral target existing customers.
This has been a comparison between the similar, yet functionally different, referral and affiliate marketing programs.