Is Affiliate Marketing Dead?

Affiliate marketing can be defined as the way of promoting other’s products or services, when a sale is there the affiliate gets paid. The affiliate marketer is recruited and trained, after that, he is provided with a unique link. Whenever the purchase is done with the help of the given link the recruited affiliate is paid.

AIB data says that “affiliate marketing is a global industry worth over $12 billion”. Not only this, but affiliate marketing spending is also predicted to hit $8.2 billion by 2022.

A lot of people keep on asking if affiliate marketing is dead? Is it still not the best way to make money? No, I don’t think affiliate marketing is dead. I feel that it has just changed a bit. Now you need a lot more time and a lot more effort, more than you once used to give to it.

Also for successful affiliate marketing, you need organic traffic coming to your website through social media or emails. And with being consistent on your content sharing strategies you can bring traffic to your website.

So what makes this affective marketing to grow?

Small scale businesses rely on affiliate marketing as they tie up with influencers, bloggers, to promote their products and services, by placing their company’s link on their profile, blogs, etc. Small scale business has a limited budget that is why this works as a cost-effective method.

Again with cost-effectiveness affiliate marketing also brings trust among the buyers. The buyer’s if doesn’t know the business directly and he saw the brand product or the business product link on the profile of one of the known the let say influencer. He would love to purchase the product from that influencer because the influencer is a well-known face in the market.

Also, you even can start from zero, and invest more as your business grows. You here get exposed to an already established network. In today’s world, it’s seen that consumers prefer to purchase things on either recommendation from friends and family, or from online influencers whom they admire and trust. There are a great number of people who visit social media platform just for purchasing some or the other thing. Not only this, but more than 80% of brands use affiliate marketing to widen their reach in the market.

Now you may ask how to approach to an influencer and ask them to endorse our products/services on their blog?

That can be simply done by providing free products or free trail services to the influencer.

Other could be if you want to establish a good relationship with an influencer, then you’ll need to provide some valuable feedback to them for free as well make sure it’s honest and helpful.

Since 2015 affiliate marketing programs grow by almost 10% annually and continues at least till 2021. Fast growth with no signs of stopping! – Business Insider.

 

This clearly states that Influencer marketing has been around for a long time now, and it’s not going anywhere. When done correctly it can bring great value to everyone involved. You can start investing your time in these influencer marketing strategies for your startup from now. In the majority of cases, it’s a win-win situation.