The affiliate marketing industry is one of constant evolution. As new technologies are developed, affiliates and affiliate managers must be ready to adapt their practices and integrate new techniques into their businesses and campaigns.
Technology moves at a rapid rate, sometimes it can be difficult to keep up. However, if you want to stay one step ahead of your competitors you must be able to accurately predict future trends and take steps to ready your business for change and growth. We’ve put together a list of the top affiliate trends to watch out for as we head into 2023. Check it out below.
Data-driven marketing
Data is already a massive part of any marketing strategy. It can be used to inform a range of different things, from customer preferences to sales figures and product information. However, data collection and analysis technology look set to revolutionize the way in which affiliates and brands can harness the power of data and use it to optimize their strategies and boost conversions.
Data can already be used to draw up detailed and accurate customer profiles and can even be used to make predictions about potential future traffic and sales. Data can also be used to track the consumer journey across multiple platforms and devices and to improve the customer experience.
We can expect to see more integration with artificial intelligence (AI) and cloud-based systems in 2023. This will streamline the data collection and analysis process, allowing affiliates to effectively store, manage, and access data in a time-efficient and organized manner.
More brand-to-brand partnerships
A brand-to-brand partnership is when two non-competing businesses combine their efforts to deliver a marketing strategy to a shared target demographic. Effective brand-to-brand partnerships are mutually advantageous, they can offer numerous benefits including increased sales and conversions, improved brand awareness and reputation, and a cost-effective marketing solution.
We can certainly expect to see more brand-to-brand partnerships in 2023, as affiliates and companies look for new ways to target specific markets and demographics.
If you want to learn more, we’ll be hosting a panel about navigating and building successful brand-to-brand partnerships at our upcoming Amplify Summit. The panel will include Tyler Calder, who is the CMO of partner ecosystem platform PartnerShack. He will be joined on the day by impact.com Co-Founder Lisa Riolo, The Partner Agency Co-Founder Chris Thomas, and Global Senior Director of Partnerships at collaborative growth platform Reveal Daniel Lancioni.
A focus on performance marketing
The world is currently living through times of economic uncertainty and instability. Rising inflation and energy costs are having serious consequences for businesses and customers alike, and this can be clearly seen reflected in the spending habits of consumers.
As a result, businesses will be looking to optimize their budget structure and ensure that their marketing strategies are as cost-efficient and effective as possible. Performance marketing allows brands to pay for digital advertising on a pay-click or pay-sale basis, ensuring they are not spending money unnecessarily. Affiliates must be prepared to adapt their strategies to offer performance-based marketing opportunities for brands as we head into 2023.
Community-based affiliate marketing
The internet is built upon the idea of community. Communities have long made up the foundation and act as the core of the internet. In days gone by it was forums and message boards, now it is social media giants. Regardless, these communities have long proved a difficult market for affiliates to target, but with potentially high returns if they do so successfully.
Online communities, be they on Facebook, Reddit, or Discord, are often focused on particular topics or niches and as such have a ready-made, knowledgeable demographic base. If affiliates can target this demographic, they will have access to an untapped market of potential customers.
As both brands and affiliates look to shift towards more organic marketing strategies, we can expect to see these communities receive far more attention as marketers look to take advantage of the unique opportunities available within them.
Conclusion
The key to running a successful affiliate marketing campaign is to be aware of future trends and have your business ready to change and adapt to meet shifting market demands. It can seem like an impossible task to predict what’s to come in the online world, but with the correct research and planning, you can ensure your affiliate business is ready to meet whatever may lie ahead in 2023.
If you’re looking for more insider knowledge on affiliate marketing, take a look at our blog, or for more personalized advice, book a free call with a member of our team.
Looking for even more insights? Registrations are now open for our 2023 Amplify Summit, held from the 17th to 18th of January, where you’ll have the chance to access talks from industry experts, panels and workshops, networking opportunities, and a free affiliate manager toolkit. Register and secure your place today!
