The affiliate marketing industry is experiencing rapid growth, with statistics indicating that around 80% of global brands utilize affiliate programs. This form of advertisement is highly favored and widely adopted due to its minimal entry barriers, requiring little or no initial investment.
The affiliate marketing industry has experienced a significant surge in the past year as an increasing number of brands seek economical methods to boost traffic and revenue for their businesses. Job openings for affiliate marketers and partnership specialists are abundant on LinkedIn, indicating the industry’s dynamic nature and constant evolution.
What can be anticipated for the future of affiliate marketing? What are the anticipated trends in affiliate marketing and the affiliate industry?
1. Virtual shopping
With increased time spent at home, shopping online has surpassed all other methods of purchasing and selling goods, leading to a decline in the popularity and competitiveness of traditional brick-and-mortar stores.
By embracing this trend, companies have been able to shift their operations to the online realm, opening up several prospects for newcomers to venture into affiliate marketing with minimal risks and investment expenses. Utilizing search engine queries, the affiliate marketing sector enhances its visibility without excessive time or monetary commitments.
In addition to that, virtual shopping is branching out in various ways. Among these is the growing trend of live stream shopping, expected to gain more popularity by 2023 on platforms like Twitch and YouTube. Influencers, during these live streams, offer discount codes to boost sales for their affiliate partners. Both affiliate marketers and affiliates should definitely pay attention to this emerging trend in the current year.
2. Influencer marketing 2023
In the realm of affiliate marketing, particularly with micro-influencers, 2023 is set to be the year where influencers truly shine. Both big corporations and small enterprises are keen on harnessing the power of influencers to effectively engage with their audience and motivate them to take necessary action.
The affiliate marketing industry will be heavily influenced by micro-influencers. To ensure a higher return on investment, brands and businesses operating on a limited budget will actively pursue micro-influencers for their affiliate programs. Consumers will naturally place trust in these influencers, who possess expertise in a particular niche, when they promote products or services.
Affiliate programs catering to dedicated micro-influencers have gained significant momentum as they surpass traditional advertisements in elevating brand recognition and increasing conversion rates.
3. Social selling through video content
Video content is emerging as a prominent trend in affiliate marketing strategies. Popular platforms like Instagram, TikTok, and YouTube serve as widely used avenues to exchange content, ideas, promotions, and beyond.
One effective method to increase views, enhance brand visibility, gain popularity, and improve conversion rates is to connect with audiences via brief videos or live streams. Influencers and brands can engage their target audience by soliciting inquiries, offering recommendations, and promoting affiliate agreements.
It is vital to consider videos as part of affiliate marketing strategies in the age of technology, mobile users, and social media. As individuals prefer watching and listening over reading, this presents an opportunity for brands or influencers to seize and attract their attention, enhance website visits, and generate income simultaneously.
4. Voice search
2023 is anticipated to mark a significant shift in the trend of voice searches, although their development is not yet complete. Mobile devices contribute to 50% of affiliate traffic, as per statistics. Predictions indicate that voice-operated searches will emerge as the primary mode of advertisement for affiliate marketers.
In order to engage in affiliate marketing strategy linked to voice search, it is crucial to develop an appropriate landing page containing frequently asked questions and corresponding answers to guide potential customers to your site. When they inquire, for instance, “Siri, what is the process of selling a t-shirt?” an effective page should promptly direct them to Printify.
Performing thorough keyword research is essential in order to optimize your chances of increasing traffic and effectively stand out in this trend. Long-tail SEO plays a vital role in maximizing the benefits from this trend.
5. Link building and co-marketing
It is challenging to attain a top ranking for a website, but not unattainable. Co-marketing and link building will emerge as prominent trends in 2023 to assist affiliate marketers in achieving optimal outcomes.
Link building involves placing a link to your website or landing page on another webpage that is affiliated with you. The greater the number of links dispersed across various pages, the more favorably Google will rank your website in search results. While link building is not a novel concept in the realm of affiliate marketing, this practice is expected to gain more traction in the coming year as collaboration presents an opportunity to amplify both website traffic and conversions.
Co-marketing partnerships between affiliates and advertisers will continue to grow in popularity in 2023. Such collaborations offer a great opportunity to reach a varied audience for products or services and generate increased revenue.
There is a vast array of opportunities available for co-marketing. Content affiliate marketers have the potential to join forces and collaborate. Different types of affiliates can come together to enhance their earnings and establish a mutual agreement to retain their respective commissions. The possibilities are limitless.
6. Expansion of affiliate marketing budget and tools
In 2023, there are expectations for substantial advancements in both existing and novel affiliate marketing tools. The greatest impact anticipated this year will be from automation tools, offering numerous advantages. By enhancing automation capabilities, it will become possible to efficiently find suitable affiliates, oversee and analyze progress, as well as handle seasonal campaigns.
Advertisers possess a range of affiliate types to collaborate with, yet recent advancements have presented several avenues to expand revenue streams. The progress in AI affiliates, novel applications, and a skilled workforce will present advertisers with more prospects to flourish in their endeavors and captivate fresh audiences.
Due to its increasing popularity, statistics project that the affiliate marketing industry will witness further developments this year, with more brands and companies investing in it. Consequently, the budget allocated to affiliate marketing is expected to reach approximately $8.2 billion by 2023.
Both beginners and experienced marketers will have more opportunities in affiliate marketing thanks to enhanced tools and budgets, which will simplify daily operations and generate larger profits in the future.
7. Crypto boom
Cryptocurrencies have witnessed remarkable significance in recent years. Despite Bitcoin maintaining its leading position, emerging assets like NFTs are also gaining traction. The increasing investments in crypto present lucrative prospects for collaboration between crypto advertisers and affiliates, enabling them to optimize their earnings.
In 2023, the rising acceptance and investment by governments and banks in the cryptocurrency industry will contribute to the growing popularity of crypto affiliate programs as consumers become increasingly discerning and expectant.
Marketers looking to maximize their earnings with minimal effort should consider joining the most reputable cryptocurrency affiliate programs, as these programs provide opportunities to engage and monetize a targeted audience in various channels like YouTube, Twitter, blogs, and others.
8. Increase in brand-to-brand partnerships in the affiliate space
When two non-competitive brands with similar target audiences collaborate on a campaign or product, it helps them reach their objectives and generate additional revenue.
These partnerships could be established through features in newsletters, competitions on social media, placements on websites, and the creation of co-branded products. We can expect a significant increase in the number of such partnerships. Utilizing the affiliate channel will enable brands to streamline tracking and efficiently enhance the effectiveness of these campaigns.
9. Brands will increase focus on video, podcast, and SEO affiliates with long-tail search
The popularity of various types of affiliates fluctuates based on technological advancements, economic conditions, and current trends. Advertisers will dedicate their attention to video, podcast, and long-tail search.
Video
The popularity of video content among consumers continues to soar, making it a highly favorable choice for affiliate marketers. The introduction of YouTube shorts in 2021 and the increasing emphasis on video content by various social media platforms indicate a growing trend towards collaborating with video affiliates instead of more conventional affiliate types.
There are numerous statistics that demonstrate the immense power of videos.
- 72% of people would rather use video to learn about a product or service. (Wyzowl
- Viewers are 95% more likely to remember a call to action after watching a video compared to 10 percent when reading it in text format. (Forbes)
- 88% of consumers have bought something after watching a video. (Wyzowl
To incorporate videos into your affiliate marketing strategy, you can seek out and collaborate with affiliates who have experience in video creation. This may include individuals from platforms like TikTok, Snapchat, YouTube, live streaming platforms, as well as influencers who are active on Instagram Stories and Facebook Lives.
Despite YouTube’s dominance and recent attempts to rival Instagram and TikTok with YouTube Shorts, it should be emphasized that video remains highly impactful when used as blog and website material. Notably, popular video content encompasses
- Tutorial & How-To videos
- Product Reviews
- Favorites & Best Features
- Unboxing Videos
- Styling Sessions
An e-commerce store, for instance, could collaborate with a fashion vlogger to create a video showcasing how they style their product. Alternatively, a software company could team up with a YouTuber to produce a tutorial video guiding viewers through the step-by-step process of using specific functions, resulting in a final outcome.
To enhance cooperation in creating content, the option of conducting an interview or providing sample products that can be featured in the video should be considered.
Preparation of marketing materials for video promotions is essential for building anticipation and excitement for new products. By providing affiliates with these materials ahead of time, they can create videos featuring exclusive insights and use them for promotional purposes before the official product launch.
- Referral links and promo codes
- Brand logo for thumbnails
- Accurate pricing/sale information
It is possible to include affiliate links in the video caption, helping to guide viewers to the products featured in the video. Alternatively, coupon codes can be endorsed both within the video and its caption. While video promotions require more effort and time to produce, they offer a more thorough presentation in certain instances.
Make sure to allocate sufficient time to find affiliates that you can establish a robust partnership with, and be ready to be more engaged in the process, particularly when it comes to product samples and demonstrations.
Podcast
Why wouldn’t anyone desire a 4x return on investment for their advertisements?
Placing an advertisement in the middle of a podcast alongside a text link and coupon is a successful method to generate sales as people willingly consume content and the potential for returns is considerable.
In 2023, there will be an increased demand for advertising in the podcasting industry, attracting more brands to join the market. Consequently, smaller niche-focused podcasters will have the opportunity to secure advertising agreements, and there will be heightened competition to secure placements with established podcasters who have a highly engaged audience.
The idea is straightforward. The podcaster develops an advertisement to be aired either at the start, middle, or end of their podcast. Typically, this promotion is accompanied by a coupon code and a textual link in the show notes.
SEO
In order to have a larger market share, brands will prioritize partnerships with content affiliates who rank for long-tail search terms. Advertisers will then focus on utilizing long-tail search in order to achieve a healthy mix of affiliates.
Having affiliates with high-ranking articles is crucial in driving sales because quality content plays a significant role in selling. Google proves to be extremely valuable in this aspect. Engage in brainstorming sessions to explore various search terms that potential customers might use to find your products.
- Focus your search on the areas you ship to
- Think about what people might be searching for (You can check in Google Analytics to find search terms that people type in search engines to find you)
- Find bloggers and high-ranking content for these search terms
- Contact them and ask to be added to their content
