Have you made a TikTok yet? Set up a business chatbot? Looked into using Artificial Intelligence? The growth rule for businesses persists: adapt or get left behind.
Digital marketing is constantly evolving with the introduction of new technologies, changing audience behaviors, and the social media revolution. Business owners know more than anyone that unless we adapt our strategies to the times, we’ll fall behind as competitors capture our audiences’ attention.
One form of adaptation is influencer affiliate marketing. Have you ever noticed your favorite fitness guru talking her audience’s ears off about her new workout pants? Or a chef gushing about his top choice for panini presses and blenders? Both scenarios are examples of influencer affiliate marketing. For every niche, there are a plethora of influencers — and with every influencer, a marketing opportunity for a business.
Let’s cover everything you need to know about influencer affiliate marketing, including how to use data to your advantage, how to pick the right influencer affiliate for your business, and how to recruit your top choices.
What is influencer affiliate marketing?
Before we get into that, let’s start with the basics. What is affiliate marketing in general? Well, affiliate marketing has its roots in simple “referral marketing”, which is essentially when someone brings customers to a new business, and they’re rewarded — either with payment, discounts, or some other incentive.
Influencer affiliate marketing entails a business forming a partnership with an influencer to promote its products or services. It’s a type of affiliate marketing program. Influencers are essentially content creators with a target audience.
In return, influencers receive a commission based on how many purchases they propel for that business with their marketing. That commission appears in two different models:
Pay-per-click, which offers the influencer a small Philippines Photo Editor commission for every customer that visits a business’s website.
Cost per acquisition, which offers the influencer a percentage commission of each purchase that stems from their marketing.
Trackable affiliate links show both parties just how many people make purchases or visit a business’s website through the influencer’s direction and promotion. Then, based on the conversion rate and agreed upon commission rate, both parties know what the payment should be.
Experts predict that the market spend for affiliate marketing in the U.S. will grow to over $8 billion in 2022. Businesses have caught on to the wave of influencer affiliate marketing campaigns, with 81% of brands working with influencer affiliates to promote their products and services.
Image showing that 81% of brands work with influencer affiliates
But how does an affiliate influencer promote a business exactly? Being a social media influencer is one method, with 68% of affiliate influencers creating content on social media platforms to promote businesses. Becoming a blogger is another popular route, as close to 65% of affiliates use blogging and content marketing to promote businesses.