Affiliate Marketing & its Latest Trends to Apply in your Business
Affiliate marketing is considered one of the best performance-based marketing in today’s world. In this marketing, a business offers rewards to the affiliate(person bringing or recommending your brand) whenever visitors arrive on the website with the help of that same affiliate’s marketing efforts.
A person who promotes any brand’s product is known to be as an affiliate and the practice of promoting products through different channels is called marketing. When a visitor clicks or visits that same channel and reaches to the company’s website, the affiliate earns a commission from the company.
The marketing methods that affiliate marketing includes are:
- Organic Search Engine Optimisation: SEO
- Paid Search Engine Marketing: PPC(Pay Per Click)
- Email Marketing
- Content Marketing
Affiliate marketing drives significant sales and revenue to the business. Actually, it is beneficial for both i.e., the business and the affiliate marketer. In fact:
- At present, 84% of the publisher and 81% of companies support affiliate marketing and this statistic will continue to grow as affiliate marketing is increasing every year consistently. (Source: WebMarketSupport)
- The spendings on affiliate marketing have increased by 10.1%. And, with all calculations, it will reach till $6.8 Billion by 2020. (Source: MediaKix)
- 38% of marketers consider affiliate marketing as the best customer attracting methods. (Source: WebMarketSupport)
Want to know why and how? Let’s check out the latest trends of affiliate marketing that you can apply to your business.
Well Balanced Affiliate Reporting & Attributes
Most of the affiliate campaigns work on last-click attribution. In this, the affiliate marketer gets the final click before the sale receives complete credit for the conversion. But now it is actually changing.
With the help of latest attribution models and analytics feature provided by affiliate platforms, you can now easily track every affiliate marketer’s tactics working together. It even allows you to take a complete check on marketing funnel and cross channels.
Test & Optimise Conversion rates Regularly
Let’s imagine you are promoting a product through an affiliate link on your promotion page. If you receive 5000 visits per month on a 2% conversion rate, you will be having 100 referrals.
However, your target is to get 200 referrals. In this case, you have two options, either to concentrate on attracting 5000 more visitors or you can increase the conversion rate by 4%. Whichever of the options seem good for your business?
Rather than consuming time in blogging and guest posting for building your website’s domain authority and generating organic traffic, it will be a good option to increase the rate of conversion by 2%
For increasing the conversion rate, you can optimise your website’s landing page, test Call-To-Action buttons and can optimise various strategies for conversion rate. After optimising and testing your website, you will be getting improved results in less period of time and efforts.
The Change In GDPR
GDPR(General Data Protection Regulation) was effected on the 25th of May, 2018 and brought a new set of regulations that strictly governs the organisation’s usage of personal data across the European Countries.
Now, because this GDPR new regulation, the affiliates who are not located in Europian Union are also forced to retrieve user’s data via opt-in consent.
So, it’s better to follow FTC guidelines as per new GDPR regulation and openly disclose that you are receiving commissions for practising affiliate marketing with the name of organisations.
Affiliate Marketing Now Getting Smarter
Organisations or merchants are receiving a huge amount of profits with the help of their affiliate marketers. And most of the companies are now depending on their affiliate partners.
Well, this can be a great moment for all the affiliate marketers to understand their importance as this can lead them to get good deals and higher commissions.
It does not matter whether there are commission structures like CPA, CPL or CPC, there are many affiliate programs. That can make you earn a good amount of commission.
Affiliate marketing is like a huge playground where you can practice your marketing skills in different patterns. However, the only aim of every marketer is to earn a higher commission. And to earn it, you will have to follow the latest trends in digital marketing.
So, with these above-mentioned affiliate marketing trends, you can update your knowledge and can apply on your further marketing plan.
And, if you are still left behind somewhere, feel free to contact us.