Due to the impact of the global health crisis, most companies are focusing on their marketing efforts through different digital channels, and one of them is affiliate marketing. Affiliate marketing enables businesses to efficiently advertise a product to an audience with little or no monetary investment. That’s why many are venturing into this model to increase their customer base and sales.
Many digital advertising experts like David Sharpe and others help educate businesses to increase their sales and brand awareness. If you want to get ahead of your competition, affiliate marketing is one of the strategies you should learn about this year.
What Is Affiliate Marketing?
Affiliate marketing is a unique form of performance-based marketing. A merchant rewards one or more affiliates based on the number of visitors or customers brought about by the affiliate’s marketing efforts. Affiliates are rewarded based on their attempt to build a customer base and not based on the actual sale.
Affiliate marketing allows merchants to offer niche products to specific groups of people, building direct relationships and loyalty from these particular markets. Affiliates who’ve built solid connections and loyalty to a merchant can bring remarkable success to that merchant through word-of-mouth advertising and referrals.
Many companies like Wealthy Affiliate and others offer affiliate marketing programs that include education and training tools. Many people ask questions such as ‘Is Wealthy Affiliate legitimate?’ or ‘Can this program help me earn money?’ If you’re planning to look into these offerings, it’s best to read reviews first and evaluate which program is worth your money.
Affiliate Marketing Trends For 2021
Many affiliate marketing trends have evolved in today’s online affiliate marketing world and continue to change over time. As an affiliate marketer, it’s essential to keep abreast of all the latest changes in these ever-changing industries. Here are some of the affiliate marketing trends you should expect in 2021:
Social Media Influencers Will Be More Important
Social media influencers are an exciting new breed of professional online marketers who are helping affiliate marketers earn money by becoming influential online voices. Influencers are famous for being active online, tweeting, blogging, or using other forms.
They’re considered ‘social media voices’ because they can bring attention to merchants through various platforms. Affiliate marketers use influencers to gain customer trust and also increase awareness of their business.
Content Will Be The Primary Focus
The most significant affiliate marketing trends will be centered around an increased focus on content in the coming years. Social media has fueled a renewed interest in content-based marketing strategies such as blog posts, video marketing content, and podcasting. Many companies now offer writers, editors, marketers, and even readers who can produce great content for their readers. Automation tools are being developed to create and maintain content-rich websites. There’s also a trend setting for companies to outsource content creation to freelance writers.
Aside from that, personalization will also be one of the primary focuses for affiliate marketing. More publishers are focusing on providing personalized content for their customers. Providing your customers with tailored information is more effective than creating general articles or reviews.
Localization Will Be Used To Earn People’s Trust
Another one of the affiliate marketing trends of the future will be the movement toward localization. Localization is the method of understanding your audience’s culture and create a marketing campaign based on their expectations.
Affiliate marketers can use different strategies for them to have greater reach and access to varied populations. To better connect with these population segments, they should identify and establish affiliate partnerships with trusted people from these communities.
Affiliate Marketing Statistics For 2021
If you’re still unsure whether venturing in affiliate marketing is beneficial, especially this year, here are some of the affiliate marketing statistics for 2021:
- About 80% of businesses have affiliate marketing programs.
- Nearly 25% of the affiliate programs today are found in the fashion industry.
- Almost 79% of affiliate marketers use this method to improve customer engagement.
- More than 65% of affiliate marketers use their blogs to generate traffic.
- About 65% of affiliate marketers use social media to connect with their customers.
With these numbers, it proves that affiliate marketing can help you make money. In the US alone, the affiliate marketing industry is expected to increase by USD$8.2 billion in 2022.
The benefits of affiliate marketing are already available for anyone with the drive to make money online. Affiliates can use the power of social media to build their reputation as an expert in their field. From the statistics and trends, it’s apparent that affiliate marketing will help you or your business grow financially this 2021. Before you venture into this business model, you should have the right tools and education to ensure the success of your marketing strategies.