We all know affiliate marketing where affiliates would market the products or services of their chosen merchants in an attempt to gain a passive income stream via commissions.
For a time, these people would run ad campaigns and create new content to help drive their audience to click on their affiliate links and to get paid in the process.However, with the advent of social media, internet marketers have come up with a new way to promote their merchants’ products and services.
They are known as social media influencers and they are people who go to different social media platforms (mainly Facebook or Instagram), build their own audience, and then promote the products from there. They help drive social traffic conversion up through influencer marketing- which, according to surveys, has now impacted and has trumped traditional affiliate marketing.
Affiliate marketing agencies should now slowly transition to a more social platform. Bloggers and other content creators are now dropping their traditional websites in favor of Instagram fame.
It turns out that as more and more people are going to different social media channels, it just makes sense that you put the time and effort to focus on that area instead.
How Do They Get Paid?
So, how do social media influencers get paid? We know for a fact that affiliate marketers get paid based on Pay-Per-Sale models, but typical influencers get paid a flat rate right off the bat.
The Evolution of Affiliate Marketing
Back in the day, affiliate marketers were given trackable links wherein the merchants will be able to find out how many clicks their links have gotten, as well as how many people have actually completed the sale. You could say that it is more of a performance-based model because merchants are eager to know how many people have actually purchased something as opposed to just checking out the page through affiliate links.
However, as time progresses, more and more brands try to understand their consumer base in an attempt to find out what makes their audience click and ultimately buy from their online stores. That is why social media influencers have slowly gained traction since they are able to bridge the gap between companies and their consumers.
Another reason why influencers these days are highly-regarded than traditional affiliate marketing efforts is the fact that more and more people are now using mobile devices as opposed to their desktop counterparts.
The ability to quickly access the internet and their social media profiles have provided an avenue for such people to market products quickly and more effectively than ever before.
The Rise of Influencer Marketing
As social media has become quite popular in this day and age, a lot of companies are now trying to make sure that they can analyze the performance of their chosen influencers.
Thankfully, there are now plenty of different analytics and powerful metrics that would help identify the best possible influencer for their brand.
Furthermore, influencer marketing, as it is called, can now be used in conjunction with traditional affiliate marketing strategies to not only help with brand awareness, but to also come up with ways that will attract people to make the sale.