The arena of digital marketing when you become your own boss has changed dramatically in the last few years. There has been a substantial rise in various online programs to enable entrepreneurs to generate extra income via blogging and social media.
Two of the biggest opportunities for brands to flourish in the digital marketing realm are affiliate and brand ambassador programs. However, many harbor several misconceptions about the two and get them mixed up into the same category.
But one is not synonymous with the other. There are many differences, and you will want to be aware of them if you’re thinking about starting up your own avenue of passive income.
If you want to know the difference between affiliate marketing and brand ambassadors, let’s dive into each one.
Affiliate Marketing Programs
Affiliate marketing is a more formal arrangement between the company and an influencer. The goal of an affiliate program is to pay a commission based on conversions or website traffic.
For example, have you ever gone on YouTube to look up how to renovate your bathroom and someone provides a link to a specific product on Amazon? This is called an affiliate link.
Influencers use specific links so whenever someone makes a purchase, otherwise known as a conversion, by using the designated link, that influencer receives a commission based on that purchase.
Affiliates prosper because they understand ROI (return on investment) and have a knack for how to utilize their following or website analytics to produce results for the brand they partner with. This is what makes their operation more of a business than a side hustle.
According to Under30CEO, there is a difference between affiliate relationships and affiliate partnerships. Relationships tend to hyper-focus on one aspect to generate website traffic or obtain conversions.
Affiliate partnerships, in contrast, dive deeper and are usually made between larger companies, other affiliate programs, or certain big-time influencers. They work together to promote one another’s products or services so that all parties benefit significantly.
Brand Ambassador Programs
You may be one of the many who constantly receive messages on Instagram with invitations to become brand ambassadors for a clothing line or the latest app. Everything from watches to bathing suits is being used in brand ambassador programs.
But what does that mean exactly?
Unlike an affiliate marketing program, a brand ambassador does not always receive a commission. An ambassador tends to be someone who is a loyal customer of the brand and uses his or her online platform to talk about the beloved products and services.
In return, companies compensate the ambassador with discounts on their products, free gifts, special access to various exclusive content or events, and might occasionally offer a commission. This usually depends on the budget the brand is working with along with how much influence the person commands.
Hence, the person is identified on social media as an influencer. Someone with greater influence will receive higher compensation.
Companies can benefit substantially from brand ambassadors because usually, the latter are individuals who genuinely love the product or the brand they are representing. They proudly stand behind it and rave to their friends, family, and fans about why everyone else should jump on board.
Do Your Research
Before diving into the arenas of either affiliate marketing or serving as a brand ambassador, do some serious research about the company that has reached out to you. Find out how they choose to pay their affiliates or ambassadors.
Learn what they offer in return and what someone who has your current following and level of website traffic might receive in compensation for doing extra work on behalf of the company.
Your voice could be important and brands want to work with you. You should get paid for making them money as you discuss products you already use. Get creative and before you know it, you could be making an unexpected amount of extra money.
