What is affiliate marketing v/s referral marketing?

What is affiliate marketing v/s referral marketing?

Affiliate Marketing v/s Referral Marketing:

Affiliate Marketing:

Affiliate marketing involves a partnership between a company and individuals (affiliates) who promote the company's products or services through unique tracking links or affiliate links.

Affiliates earn a commission for every sale, lead, or action generated through their promotional efforts.

It's commonly used in e-commerce and online businesses to expand reach and drive sales through a network of affiliates.

Referral Marketing:

Referral marketing relies on existing customers or brand advocates to refer new customers to a business in exchange for rewards, discounts, or other incentives.

It leverages word-of-mouth and personal recommendations to acquire new customers and build brand loyalty.

Referral marketing often focuses on building strong customer relationships and rewarding loyal customers for their advocacy.

In summary, while affiliate marketing involves partnerships with external individuals or organizations to drive sales, referral marketing relies on existing customers to refer new business in exchange for incentives.

Here's related information that you may also find helpful – CPA Marketing vs Affiliate Marketing

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