Consumers trust people who look, talk and think like them more than communication directly from brands. Case in point: a 2019 study found 63% of respondents trust what influencers say about brands much more than what brands say about themselves.

So, what does this mean for your brand?

First, accept the marketing landscape has changed. In the old days, you might’ve thrown dollars at newspaper ads or billboards (that may still do the trick, in some cases). But today, savvy brands are using those same dollars to leverage third-party validation.

We all know “word-of-mouth” is the original third-party validation. Influencer and affiliate marketing blurs the line between organic content and paid advertising. These people and platforms are integrated into everyday life and can help brands multiply their audience.

Take a look at the last few years of Super Bowl commercials, and you’ll find more macro-influencers representing brands than A-list celebrities. Likewise, scroll through Amazon, and you’re shopping from the one of the largest affiliate networks in the world.

As brands consider their future strategies, the key may lie in community influence.

Overview: Influencer vs. Affiliate Marketing

Influencer marketing is the process of partnering with influential people in a specific niche to promote your brand’s products, services, events, etc. Global spending on influencer marketing topped $13 billion in 2021, up from $1.7 billion in 2016. For organizations to stay relevant, an influencer marketing strategy is vital.

The key to influencer marketing is an engaged audience; these movers-and-shakers rely on their active followers to get partnerships. You may think of the Kardashian clan when you hear the word “influencer,” but influencers don’t have to be celebrities to be successful. On average, people with around 15,000 followers have the highest engagement rate.

Affiliate marketing allows companies to partner with brands, publications and/or people to leverage the affiliate partner’s audience. When a visitor sees your content on their platform, and then buys something through a provided link, your affiliate partner receives a commission. The best part: you only pay when there’s a purchase and you determine which purchases count.

Affiliate marketing is newer than influencer marketing, but it’s growing in popularity. As of 2022, affiliate marketing accounts for over 16% of all ecommerce orders in the U.S. and Canada.

The common denominator between influencer and affiliate marketing? Trusted platforms speaking on behalf of your brand.

What Are the Costs?

Pricing with influencers varies widely; someone with hundreds of thousands of followers could charge a hefty fee, while those with smaller audiences may be perfectly satisfied with free swag or the opportunity to build connections. Micro-influencers — those with between 1,000 and 50,000 followers — charge less money, are seen as more authentic and are generally more available than those on the macro scale. The cost is certainly worth the investment — a 2019 survey found 71% of marketers agree customer quality and traffic from influencer marketing is better than other sources.

Affiliate marketing is a pay-for-performance model. Dollars are only spent when there’s a sale or conversion. This variable cost approach means companies only have to spend the money if they see results, reducing risk and overhead while redirecting funds to the most productive channels. 

Forming Partnerships

Remember: third-party partnerships mean you’re trusting somebody else with your brand’s reputation. It’s extremely important influencers’ values are aligned with your target audience and affiliates have a similar voice to the consumers you’re trying to reach.

It’s possible to simply search on social media platforms to discover potential influencers, but this can be lengthy and tedious. Candor has experience using top influencer marketing platforms like Heepsy and Grin to help connect brands with potential advocates.

Finding affiliate partners requires the same amount of finesse. Experienced agencies like Candor can connect businesses with partners, manage payments and track results to ensure for a successful partnership.

Making a Decision

It doesn’t have to be a one-or-the-other thing — your brand can switch between influencer and affiliate marketing as needed, or even run a campaign for each strategy simultaneously. Just remember: the secret sauce lies in relationship-building.

Experiment, find what works best for your audience and remain flexible with marketing dollars to achieve the best results.