Future of Affiliate marketing is becoming increasingly important to businesses in a variety of industries. By 2020, affiliate marketing is on pace to become a 6.8 billion dollar industry in the U.S.
Perhaps you already know all there is to know about affiliate marketing. Maybe you’re just dipping your toes in the water and have a lot of learning to do.
What is affiliated Marketing
Affiliate marketing is the process of earning a commission by promoting other people’s (or company’s) products. You find a product you like, promote it to others and earn a piece of the profit for each sale that you make.
What is the future of affiliate marketing?
Keep reading for a walk-through of how affiliate marketing has changed in recent years and where it’s expected to go in the future.
How Has Affiliate Marketing Changed Over the Past Few Years?
The year was 2003. After working in publishing for nearly five years, I decided it was time for a change. As “digital marketing” was just becoming a thing, I went looking for a job in that realm and was lucky enough to find a position as an Assistant Affiliate Manager.
Up until I was hired, I had never even heard of affiliate marketing. Back then, brands spent most of their online budget on display ads that appeared on AOL (gasp!) or MSN. Search budgets were still growing, and Google was not yet the behemoth it is today.
While affiliate marketing was seen as a cost-effective way to generate revenue, establish partnerships and increase brand reach, it was still an afterthought. I, however, saw it as a new and exciting industry that offered a lot more value than it was being given credit for. Fortunately, it’s come a long way in the past 14 years – and changed a lot in the process.
Here are a few interesting tidbits that show how much affiliate has changed:
1. Size of Affiliate Program
Most programs sought to add affiliates quickly (some even used auto approval!) and the size of an affiliate program was often an important talking point at company meetings and in the media. Today, it’s about quality over quantity. The best affiliate programs carefully select their affiliate partners and consistently cull their list to ensure they are only working with quality, brand-aligned partners.
2. Partnerships with Content Creators.
In the early days, the industry was still trying to figure out how to work with bloggers, who were also new to the marketing landscape. Most blogs did not monetize their traffic and were hesitant to work with affiliate programs. Today, most high-performing programs that are effective at driving incremental revenue work with a lot of content affiliates.
3. Social Media.
Like blogging in the early 2000s, social media was also a new kid on the block. Facebook wasn’t started until 2004 and Twitter was created in 2006. As such, social media as a channel was not seen as a player in the affiliate space. Today, there are some content affiliates who distribute their content solely via social. They leverage Facebook, Twitter, Instagram, Pinterest and others to connect with their followers and promote brands in thoughtful, creative ways.
Income Potential in Affiliate Marketing in India
Affiliate marketing is an extremely powerful method of making money. People are making lakhs of rupees every month in passive income using this amazing method.
Affiliate marketing is different from other methods of income because it lets you make money while you sleep.
Thousands of people have become lakhpatis and even crorepatis in India with affiliate marketing alone. It’s your turn now.
Take any popular affiliate program in India and you will be amazed to discover the commissions it offers for your sales.
Amazon Associates, which is Amazon’s affiliate program, offers you decent affiliate commissions for driving sales.
Flipkart Affiliate Program, for instance, lets you earn attractive commissions on a range of products.
Both these online stores are too big and they sell hundreds of thousands of products. You can pick any product and start making extra money by selling it through your website, blog or social media profile.
How to Begin with Affiliate Marketing Today
Becoming an affiliate marketer is easy. You just need to join an affiliate program.
Some businesses have their own affiliate programs. They have their own marketing tools. Amazon and Flipkart are two major examples.
However, most businesses offer their affiliate programs through affiliate networks. You can choose from top affiliate networks in India and choose a campaign that fits your niche and expertise.
With that done, start displaying their products and services on your website and persuade your readers to make a purchase.
The more traffic you send to the businesses, the more chances you have that a purchase will be done.