Table of Contents
- 1. AI will revolutionize affiliate marketing
- 2. A unified approach to partnerships
- 3. Increased collaboration within partnerships
- 4. The self-informed B2B buyer
- 5. Influencers in the spotlight
- 6. Content diversification for audience connection
- 7. Data-driven success
- 8. Improved affiliate platforms for better partnerships
- 9. Enterprise-level brands embracing affiliate marketing
- 10. Publishers demanding more support from advertisers
Over the past decade, the field of affiliate marketing has undergone significant transformation due to advancements in marketing channels, technology, and changes in consumer behavior. Once primarily used by B2C companies, affiliate marketing is now being recognized as a valuable strategy for B2B partnerships. Businesses are realizing the cost-effectiveness of affiliate programs in increasing brand exposure, generating leads, and driving sales.
Affiliate Marketing Influencers
According to Google Trends, the global search interest for “affiliate marketing” has seen a rapid increase since 2020, reaching its peak popularity in July 2023.
Affiliate Marketing Influencers
Affiliate Marketing Influencers
It is evident that affiliate marketing is a thriving industry with a promising future. To anticipate the trends that will dominate the B2B affiliate marketing space in 2024, we have reached out to experts in the field. Let’s explore their insights.
Affiliate Marketing Influencers
1. AI will revolutionize affiliate marketing
Lee-Ann Johnstone, Founder of Affiverse, predicts that the use of artificial intelligence (AI) will significantly impact affiliate marketing. AI-driven affiliate matching tools already exist on various networks, streamlining outreach and recruitment efforts and reducing the labor-intensive nature of program management. Automation capabilities within affiliate platforms include:
Affiliate Marketing Influencers
- Identifying and analyzing potential partners and their audiences
- Accepting or declining affiliate applications based on set criteria
- Detecting and preventing fraudulent activity
- Providing personalized affiliate support
- Making performance optimization recommendations
Rob Berrisford, Founder of Affiliate.ai, believes that with AI handling the operational tasks, affiliate marketing teams will have the opportunity to focus on spearheading innovative campaigns instead of firefighting. AI advancements may also clash with regulatory shifts, such as the Google antitrust suit. Affiliates and managers will need to stay agile in adjusting their strategies if search algorithms and interfaces evolve or new search engines gain prominence.
Affiliate Marketing Influencers
2. A unified approach to partnerships
Nicolette Lopes, Senior Manager of Channel Partnerships at PartnerStack, foresees an increase in affiliate marketing overlaying the entire organization rather than being isolated in the marketing department. By leveraging affiliates to drive leads for resellers, strategic partners, or other go-to-market strategies, businesses can increase their reach and visibility to new customers by tapping into the trusted networks of multiple partner types. This unified approach to partnerships involves embedding affiliate managers into marketing, sales, and other teams where their role is needed to ensure affiliates receive the best support for success.
3. Increased collaboration within partnerships
Nancy Harnett, Head of HubSpot’s Affiliate Program, expects deeper affiliate partnerships to emerge, going beyond the conventional affiliate relationship. Brands will collaborate more closely with affiliates by co-creating content, organizing joint webinars, and exploring revenue-sharing models to incentivize partners. This collaboration will require affiliate managers to involve other teams such as SEO, sales, PR, and content marketing, resulting in more comprehensive and valuable experiences for the target audience.
4. The self-informed B2B buyer
B2B buyers are increasingly conducting their own research before making purchases. Cristy Garcia, CMO at impact.com, emphasizes the importance of B2B affiliate marketers being an integral part of the research phase in the buyer’s journey. By establishing strong relationships with content creators, businesses can ensure potential buyers are exposed to their brand and solution early on, cultivating a positive impression even before engaging with the sales team. Good SEO practices and high-quality content can have long-lasting effects, leading to sustained growth.
5. Influencers in the spotlight
Influencer marketing has been a leading strategy in B2C marketing, and Tim Pike, Global Program Strategist at Acceleration Partners, predicts that influencers will play a crucial role in B2B affiliate marketing. As the modern B2B buyer is younger, digital-first, and relies on social content to guide their decisions, collaborating with B2B influencers who prioritize audience engagement can be highly effective. These influencers, such as consultants, analysts, journalists, authors, or speakers, have authentic and loyal audiences. By adopting a subtle and relatable approach, influencers can engage younger audiences through platforms like TikTok, YouTube, and LinkedIn.
6. Content diversification for audience connection
The information-rich world we live in has made the B2B buying journey more complex. However, it also presents an opportunity for brands to leverage affiliate marketing and connect with potential customers across diverse content and platforms. Rex Gelb, Senior Director of Paid Advertising and Affiliate Marketing at HubSpot, suggests that marketers should put more emphasis on content diversification through affiliate partnerships. By providing diverse content that educates, engages, and empowers prospects, marketers can influence every stage of the buyer’s journey. Content should be tailored to each platform’s audience and align with their intent, personality, and engagement tendencies.
7. Data-driven success
Data plays a crucial role in optimizing ROI and identifying high-performing partners. Lina Tichomirova, Acting Head of Affiliate and Performance Partnerships at Semrush, emphasizes the importance of delving deeper into metrics such as click-through rate (CTR), conversion rate (CVR), lifetime value (LTV), and monthly recurring revenue (MRR) to pave the way for strategic success. Affiliates that take a data-driven approach and businesses that leverage data to measure the impact of affiliate marketing on lead generation and sales efforts will stand out and achieve high commissions.
8. Improved affiliate platforms for better partnerships
Affiliate platforms are focusing on developing product solutions for B2B companies, enabling them to access a wider range of partnerships in one place. Nic Yates, Head of Global Affiliate Partnerships at Silverbean, highlights the importance of collaboration between affiliate platforms and users to develop technology that empowers affiliates to monitor their performance independently. This collaboration will also lead to transparent tracking and reporting capabilities, removing the burden from affiliate managers. Strategic partnerships between tracking platforms and payment platforms will enable and track payment across the user journey of a B2B sale, offering flexibility in commission structures and payment models.
9. Enterprise-level brands embracing affiliate marketing
B2B SaaS brands targeting enterprise-level audiences are venturing into affiliate marketing, bringing substantial budgets and appealing cost-per-action (CPA) opportunities. Adam Westreich, Founder of Westreich Consulting, predicts that negotiations on commission structures and frequent check-in meetings will become essential components of these affiliate relationships. To navigate the longer sales cycles, multiple stakeholders, and stringent compliance policies of enterprises, affiliates will need to tailor their strategies. Producing comprehensive, top-tier content and exploring one-to-one referral relationships with existing business partners can be effective strategies.
10. Publishers demanding more support from advertisers
Deirdre Scully, Senior Manager of Demand Generation at Teamwork, highlights the need for ongoing care and attention in affiliate marketing programs. Advertisers should build bespoke commission structures, provide resources to enable affiliates, and create a community of affiliates to strengthen their connection to the brand. In a competitive landscape, marketers must put effort into partner enablement to build trust and stay top of mind. Both advertisers and publishers need to bring value to the table to drive demand and ensure successful affiliate marketing programs.
In conclusion, the field of affiliate marketing is poised for continued growth and evolution in the B2B space. AI, collaboration, influencers, content diversification, and data-driven strategies will shape the future of affiliate marketing. Affiliate platforms will continue to improve, and enterprise-level brands will embrace affiliate marketing to target their desired audiences. With publishers demanding more support from advertisers, ongoing care and attention will be crucial for the success of affiliate marketing programs. By staying informed and adapting to these trends, businesses can unlock the full potential of B2B affiliate marketing.