2022 is here and affiliate marketing is more popular than ever. As companies launch new initiatives, looking at emerging affiliate marketing trends in the new year is crucial to ensuring your brand's success.
According to Statista , affiliate marketing spending in the United States is expected to reach $8.2 billion in 2022, an increase of $5.4 billion from 2017. Retailers have turned to e-commerce during the pandemic, thereby expanding the possibilities of affiliate marketing as a whole. Even with constant changes in the digital atmosphere, the affiliate model will continue to grow and develop alongside changes in the digital world.
To run a successful affiliate program, it's important to stay on top of emerging trends. Pay attention to these six trends to optimize your affiliate channel in 2022.
Artificial Intelligence (AI) deserves much of the credit for recent changes in the digital landscape. Marketers are using AI to streamline conversion optimization, content creation, and customer engagements. While there are a variety of ways to integrate AI, insightful data is a driving reason to get started.
AI collects data in meaningful ways, providing insights into consumer behavior and how brands should perform. By integrating artificial intelligence into your business model, employees save time and unlock results more efficiently.
Take advantage of different ways to integrate AI into your business strategy. Identify areas where AI can reduce workload, optimize conversions, and improve customer engagement.
Due to the accessibility of relevant data, the bar is set high for affiliate marketers in 2022. Consumer attitudes have changed and they now expect highly personalized engagements from each brand. Creativity is at the forefront of business models as competition increases and brands need to stand out from the rest.
Use the data you've collected to create personalized campaigns based on demographics, geography, and user behavior. Set up seasonal and localized campaigns to talk about your niche and build lasting relationships.
Consider a technology partner like UpSellit. Through one-to-one personalization, UpSellit's AI technology intelligently monitors shopper behavior, resulting in higher conversions, average order value, and new leads.
With rising consumer expectations, use multiple partnerships to bolster your affiliate strategy. Consider the resources you have to expand your network and identify where new partnerships can fit into your sales funnel.
Traditionally, affiliate publishers have been known to drive traffic. UpSellit expands opportunities by engaging with onsite users, opening the door to optimizing conversions and improving customer experience through the power of AI and managed partnership.
Analyze where you can fill the gaps to ensure your buyer's journey is complete from start to finish. Consider all types of affiliate partnerships, from influencers to technology partners, to ensure your bases are covered.
Consumers are constantly on the move. Make your presence known across multiple channels to extend your reach. This doesn't mean your brand needs to be active across all channels, but you need to be present on relevant social platforms so that your brand is accessible beyond your website.
Engage with your target audience where they are most active. Analyze your competitors and keep an eye on new communication channels to stay ahead.
Influencer marketing plays an important role in affiliate marketing and will continue to dominate the industry. Trust holds the power in purchasing decisions. When influencers promote your product or service to their loyal audience, you automatically gain credibility with their audience in return.
A major trend in 2022 is to partner with micro-influencers who have a smaller audience in a specific niche. Their followers are often more confident than influencers with over 10,000 followers. Social media platforms are supporting this trend by opening up specific e-commerce features to all users, enabling more affiliate partnerships on a smaller scale.
Partner with micro-influencers that match your niche and brand values. Monitor their engagements and reach to ensure this is a worthwhile partnership and that your brand will receive the attention it deserves.
Social media has changed the way users interact online, and it's faster than ever. Tik Tok and Instagram have created a movement favoring videos over text. Delivering value through video allows for a deeper, more personal connection with your audience.
A Wyzowl study found that 84% of people were convinced to buy a product or service by watching a brand's video. Consumers want to know what they're buying, and videos communicate a product's value in an engaging and informative way compared to text.
Use videos in your content marketing to support your brand identity, describe products, and educate your audience. Partner with influencers who will make videos themselves and promote your products in unique ways.
It's important to align your data and buyer behavior with these new affiliate marketing trends to make the best decisions for your brand. The digital age is moving fast, but that doesn't mean it's impossible to keep up. Use your network to expand partnerships and integrate new technologies to ensure this year is the best yet.