Affiliate marketing is not dying and will continue to grow in the future.
Here are some reasons why:
- Affiliate marketing is responsible for a significant portion of sales and eCommerce: Affiliate marketing accounts for 30% of sales for advertisers and is responsible for 16% of eCommerce in the U.S. and Canada.
- Brands depend on affiliate marketing: 81% of all brands depend on affiliate marketing to generate sales.
- Affiliate marketing is a growing industry: The global affiliate marketing industry is worth over 12 billion and continues to grow.
While affiliate marketing is not dying, it is changing
What worked five years ago may not work today, and marketers who haven’t adapted to a better way of doing things may face consistent failures
Here are some ways in which affiliate marketing has changed:
- Increasing competition: As affiliate marketing has become more popular, the competition has increased.
- Changes in consumer behavior: Consumers are becoming more savvy and are less likely to click on ads or links that appear spammy or irrelevant.
- Changes in technology: Advances in technology have made it easier for consumers to block ads and for marketers to track and analyze data.
To survive in affiliate marketing, marketers need to adapt to these changes and focus on building relationships with their audience. They should also focus on providing value and creating high-quality content that is relevant to their audience. By doing so, affiliate marketers can maintain a good source of income and survive in this business.
Here are some recent trends in affiliate marketing:
1) Optimizing for voice search: With the rise of voice assistants, optimizing content for voice search is becoming increasingly important
2) Ramped up link building and co marketing: Link building and co marketing are becoming more popular as marketers look for ways to build relationships with their audience
3) No cookies: With the phasing out of third-party cookies, marketers are looking for new ways to track and analyze data
4) A turn in the metaverse: As virtual reality and the metaverse become more popular, affiliate marketing is finding new ways to reach consumers in these spaces
5) Virtual and live shopping: Live shopping events and virtual shopping experiences are becoming more popular, and affiliate marketing is finding ways to incorporate these into their strategie
6) Inflation driving consumers to seek savings: As inflation rises, consumers are looking for ways to save money, and affiliate marketing can provide them with deals and discounts
7) Rise of recommerce: The resale and rental marketplaces are becoming more popular, and affiliate marketing is finding ways to incorporate these into their strategies
8) Mass adoption of unique coupon code strategies: Unique coupon codes are becoming more popular as a way to track and analyze data and provide consumers with personalized deals
9) Shift towards recognizing marketing value beyond last-click attribution: Marketers are recognizing the value of different types of affiliates beyond just last-click attribution 10) Importance of building relationships with the audience: Building relationships with the audience is becoming increasingly important as consumers become more savvy and less likely to click on spammy or irrelevant links Learn how to leverage Affiliate Marketing with AI here