Affiliate Marketing has been around for a long time and more and more companies are turning to affiliate marketing to promote and sell their products.
Affiliate Marketing is where you promote or refer a product or service on behalf of a business online. When someone purchases using your referral, you get paid in the form of a commission.
The benefit for the company selling the product is your product gets all the promotion by it’s affiliates and you only have to pay a commission once product is sold.
There are thousands if not millions of people around the world earning money out of this strategy. Affiliate marketing is a great way to earn additional income and in some cases replace the income of your 9-5 job.
According to research done by Rakuten Marketing the Affiliate Marketing Industry is to Grow to $6.8 Billion Over Next Five Years (between 2015-2020). Although an article by The Drum suggests that affiliate sales 12 months ago for the UK alone reached £16.5 billion!
Heading well into 2016, new and existing affiliate marketers need to look at the changing market and how they are going to promote their products online.
Mobile is having a huge impact with over 50% of affiliate sales being made via mobile.
Marketing your product so it appeals to the mobile user should be a key focus for a lot of affiliate marketers.
The drivers of affiliate growth need to include: original native content, leveraging social influence, and understanding data to get the 360-degree view of an entire campaign.
Facebook have announced that most of their continued success is fuelled by mobile as well as video ads across Facebook and Instagram.
With video via mobile increasing, a strategy including video is a must not just through YouTube but across all social media platforms.
“YouTube has announced a new six-second unskippable ad format called Bumpers, which it says are ideally suited to the kinds of “snackable videos” succeeding across mobile devices today.
This is the type of advertising that affiliate marketers will need to adjust and market in order to stay ahead of the ever growing market.
The formula for affiliate marketing remains relatively the same no matter the change in the market or topic. Your main task will always be traffic generation and driving that traffic to your affiliate offer.
With the growth expected over the next few years Affiliate Marketing is an exciting industry to be in and build a successful business around.