Some people think that affiliate marketing is a relic of the past. They say it is irrelevant and will soon fade away. This is a far cry from the actual truth.
Affiliate marketing is a massive industry that is worth more than $5 billion dollars annually according to 2017 statistics. It makes up roughly 15% of all online marketing revenue. The affiliate marketing industry is only expected to grow year after year. Analysts predict that affiliate marketing will be worth up to 6.8 billion dollars by 2022.
One of the key factors that is driving affiliate marketing growth is the expansion of online networks. A larger number of networks allows folks to choose which affiliates to partner with. It also spurs competition among affiliate marketers. This should make it more effective and boost revenue for the marketing industry. New payment methods and improved affiliate techniques are also driving affiliate marketing growth.
Big companies and websites are now hopping aboard the affiliate marketing train. LifeHacker is a popular and big-name website that has made lots of money through affiliate marketing. Gawker Media has also revealed that they make a significant amount of money through affiliates. With big firms and online sites active in affiliate marketing, this is proof that affiliate marketing is far from being dead or irrelevant today.
The internet has seen an explosion of growth in recent decades. An overwhelming majority of US adults have access to the internet and many people with internet access regularly make online purchases. This means that affiliate marketing has an almost unlimited potential number of clients. The internet is also global. People from across the world can engage in and buy items through affiliate marketing. This means that clients are not limited to a geographic area as in a traditional sales force.
Advances in cyber security have made e-commerce safer and affiliate marketing safer as well. People are now more trusting of these platforms than before. The affiliate marketing space is now vast and highly diverse. It used to be focused heavily on electronics. Now it includes everything from cosmetics, software, toys, supplements, books and all kinds of other products. Almost anything can be sold on the internet nowadays. This further creates additional opportunity for marketing via an affiliate program.
Analytics and machine learning have made affiliate marketing easier and smarter. Affiliate markets can now track data and visitor behavior to their site. This allows them to make affiliate marketing more efficient and profitable. Further advances should further benefit affiliate marketing