Affiliate marketing is an online sales tactic that helps business owners increase sales by allowing “affiliates” to recommend their products in exchange for a commission. This kind of marketing is expected to grow to approximately $14 billion in 2023 globally and $15.7 billion by 2024.
Affiliate Marketing trends to look for in 2023
Some of the trends that will shape affiliate marketing in 2023 are:
• Virtual shopping: Affiliates will use immersive technologies like augmented reality (AR) and virtual reality (VR) to create engaging and interactive shopping experiences for their audiences.
• Influencer marketing: Influencers, especially micro-influencers, will dominate the affiliate marketing industry as they have the ability to connect with their audience and convince them to act. Advertisers will increase their demand for affiliates and their budgets for influencer campaigns.
• Social selling through video content: Video content will be the most effective way to showcase products and services, as well as to build trust and credibility with potential customers. Affiliates will leverage social media platforms like YouTube, TikTok, Instagram, and Facebook to create engaging and informative videos that drive traffic and conversions.
• Voice search: Voice assistants like Alexa, Siri, and Google Assistant will become more popular and sophisticated. Ultimately, this allows users to search for products and services using voice commands. Affiliates will need to optimize their content and keywords for voice search. They’ll also have to use voice-based platforms like podcasts and Clubhouse to reach their audience.
• Link building and co-marketing: Affiliates will collaborate with other affiliates, influencers, and brands. This helps them to create high-quality content that attracts backlinks and boosts their SEO ranking. Co-marketing will also help affiliates expand their reach, increase their authority, and generate more revenue.
• Expansion of affiliate marketing tools: Affiliates will have access to more tools and services. That will help them manage and optimize their affiliate campaigns. These include platforms like ClickBank, Shopify, and Printify that offer various features and benefits for affiliates. These include cost-per-action commission structure, fulfillment network, integrations, analytics, etc..
• Crypto boom: Cryptocurrencies and blockchain technology will become more mainstream and accessible, creating new opportunities and challenges for affiliates. Affiliates will need to educate themselves on the latest trends and developments in the crypto space, as well as adapt their payment methods and strategies accordingly.
Final words
These are some of the affiliate marketing trends that you can expect in 2023. I hope this helps you understand the topic of affiliate marketing better.
