Affiliate marketing is getting a second wind as emerging publishers and creators attract a new crop of advertisers.
Why Affiliate Marketing Is The ‘channel Of Channels’
Here’s a refresher on the benefits of affiliate marketing, as well as a word of caution for advertisers interested in giving it a try:
Why Affiliate Marketing Is The ‘channel Of Channels’
1. It’s cost-effective: As inflation continues to affect companies and consumers alike, affiliate marketing is a great way for advertisers to get more bang for their buck.
Why Affiliate Marketing Is The ‘channel Of Channels’
Because affiliate marketers work on a commission basis, advertisers only pay when the desired outcomes are met, Sommer Urías, senior vice president of client development at CJ, told our analyst Paul Verna on a recent “Behind the Numbers” podcast.
Why Affiliate Marketing Is The ‘channel Of Channels’
2. It’s multi-use: The customer journey can be broken into five different phases: awareness, consideration, conversion, retention, and advocacy.
Why Affiliate Marketing Is The ‘channel Of Channels’
Affiliate marketing fits into each one of those areas, enabling it to be activated at every stage of the customer journey, said Urías.
Why Affiliate Marketing Is The ‘channel Of Channels’
3. It’s meant to amplify: CJ conducted a study of over 400 million shoppers, dividing them into two groups: those who interacted with affiliate marketing along the customer journey and those who did not.
Why Affiliate Marketing Is The ‘channel Of Channels’
The shoppers who interacted with affiliate marketing converted 92% more than those who didn’t.
In addition, they generated 153% more revenues and a 36% higher average order value.
In its simplest form, affiliate marketing is more of a touchpoint that can be inserted into the customer journey to work with and amplify what marketers are already doing, shared Urías.
But beware: One of the biggest challenges with affiliate marketing is internal silos, said Urías.
Though many CMOs have an omnichannel approach to their marketing efforts, they treat affiliate marketing as a separate entity, which is a barrier to success.
This was originally featured in the eMarketer Daily…
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