Nicky Senyard is CEO and Founder of Fintel Connect, an award-winning marketing analytics company built for the financial services space.
People have been predicting the demise of affiliate marketing for many years now, yet the industry continues to grow from strength to strength. According to Statista, U.S. affiliate marketing spend is expected to reach over $8 billion by the end of 2022, up from $1.6 billion recorded in 2010.
What is driving the rise of the affiliate marketing industry? In a word: value. Affiliates are able to drive revenues for their advertisers in unique ways relative to any other advertising medium. SaaS Scout’s 2020 Industry Report shows that affiliate programs drive 15%-30% of all sales for advertisers. Within my own company that specializes in affiliate marketing for financial services, I’ve also seen affiliate partnerships account for as much as 40% of new customer acquisitions.
Affiliate marketing is so effective, in fact, that nearly half of U.S. executive-level marketers, recently surveyed by eMarketer, verified they have greater spend control and better ROI in affiliate marketing, over other paid channels. There are also affiliate marketing networks that aggregate and filter the best publishers in specific markets to deliver measurable results for advertisers.
All this is proof that affiliate marketing is far from dead. In this article, we’ll look at some of the reasons why affiliate marketing isn’t going away anytime soon.
Blocking Of Third-Party Cookies
Google Chrome is by far the most dominant web browser globally, with a 63% market share. So when Google announced its intention of completely phasing out third-party cookies in Chrome, many worried about the potential negative impact on affiliate tracking and attribution.
However, the truth is that this change will…