At Buyapowa, we see many digital marketers wondering what is the difference between affiliate, influencer and referral programs and which is best to help boost sales via word-of-mouth. All of these are genuine forms of word-of-mouth marketing but differ from each other in a number of ways. For retailers just starting out, the terms can be easy to mix up. Even experienced marketers can struggle to understand the best time to implement such a program and the relative benefits of each. Which program is best for new businesses?
Faheera Ali, writing for Internet Retailer, shares research from Forrester suggesting that “Consumers spent $517.36 billion online with U.S. merchants in 2018, up 15.0% from $449.88 billion spent the year prior.”
Let that sink in for a moment: $517 billion spent online in the U.S. alone.