Choosing between referral marketing and affiliate marketing depends on a company's business goals.
Advertisers looking to build their customer base slowly might want to consider starting with referral marketing and then moving towards affiliate marketing. On the other hand, advertisers looking to scale quickly can consider leveraging affiliate marketing or a combination of both affiliate and referral programs to work in their favour.
Before deciding, advertisers should consider the following:
Product and business type
Desired margin
Time to scale