With the continuous development of technology and the e-commerce industry, Affiliate Marketing is becoming more and more popular and is an important part of many businesses today. It not only brings great benefits to businesses and brands but also helps partners and collaborators earn more income from promoting the products and services they trust.
Recently, Affiliate Marketing trends have changed drastically. This is due to the strong development of communication channels, changes in customer behavior and awareness, as well as updates in technology.
In 2024, new trends in affiliate marketing also promise to bring many new opportunities to companies, requiring them to constantly learn and update trends to adapt to those changes. Let’s learn about Affiliate trends with Ecomobi in the article below!
The growth of the Affiliate Marketing market
The Affiliate Marketing market is forecast to continue to grow strongly. According to Astute Analytica, the global affiliate marketing market is expected to reach $15.7 billion this year and reach $36.9 billion by 2030. According to Google Trends, the number of people interested in this field is increasing through the Number of searches per year.
Through the photo below, we see that this trend has been stable for many years, and even by 2023 the number of searches has increased. The growing development of e-commerce platforms, accompanied by increased demand for online shopping, has helped promote the expansion of Affiliate Marketing.
Affiliate Marketing Trends in 2024
Affiliate Marketing has been undergoing many major changes in recent years, and in 2024, many new trends are forecast to appear, thereby creating more growth opportunities.
AI in Affiliate Marketing
Integrating AI (artificial intelligence) into affiliate marketing is one of the most prominent trends in this industry in 2024. The emergence of AI technology will help users’ marketing activities become more effective. should be fast, and convenient and optimize campaigns for favorable results. In addition, AI also can analyze data to recognize and understand consumer portraits and behaviors, helping users easily identify target customers, thereby increasing conversions.
In 2024, adopting AI-powered marketing is no longer just an option, it’s a necessity for affiliates.
Personalize user experience
Another equally important trend is the personalization of user experience. According to Epsilon research, up to 80% of consumers are more likely to buy from brands that provide personalized experiences. This demonstrates the importance of understanding and working to meet each individual’s unique needs, thereby enhancing engagement and improving brand loyalty.
Personalization strategies not only help users increase their income and help brands increase sales but also help you build closer relationships with customers and followers, thereby helping to develop your image in today’s fiercely competitive market.
Video
Nowadays, videos are becoming more and more popular, especially short videos. The reason is that videos are often very detailed, and have a high connection with users. Short videos are even more popular because they are fast, concise, and contain enough information that viewers need. From TikTok to YouTube Shorts to Instagram Reels, there are countless opportunities for affiliate marketers looking to engage Gen Z. Pion research has revealed that 31% of Gen Z have either purchased or are inspired to buy something after watching an ad on YouTube.
Video is also a great way to create excitement around a product – through providing affiliates with marketing materials such as promo codes and sales information, the content will create a feeling of excitement. The feeling of exclusivity that Gen Z loves so much.
Effective strategy with current trends
Affiliate Marketing is an important model for carrying out communication activities, but to be successful with it, whether you are a business or an affiliate, you need to have a precise strategy.
Identify goals
To be highly effective, you need to define your goals and track the results of your work using established metrics. With a clear goal, you will know your direction and know what you need to do to achieve it. You also need to set small goals such as how many interactions you need, how much traffic you need, etc. This will help you optimize your plan and more easily achieve your goals.
Market and customer research
There are many tools like Google Analytics, Firebase, etc. so you can leverage current market research and customer files that are relevant to your channel. Many tools also have AI integration to make the research process easier. In addition to understanding your competitors, this research will help you understand what your customers want and need, thereby improving the personalization of the customer experience.
Choose the right tools and platform
After identifying your competitors and target audience, you will know where you should deploy your campaign. For example, if your customer base belongs to the Gen Z group, use young social networking platforms, and especially take advantage of short videos like TikTok, Instagram Reels, or Youtube Short because young people often use them. This will help you easily reach your customers quickly, thereby increasing conversions.
Create quality content
When choosing the right platform for yourself, create a content script suitable for the channel you have chosen. To improve content production, you can use AI tools like ChatGPT, Gemini, or Jasper AI to save time.
Deploy, monitor, and evaluate the effectiveness
The final step is to deploy campaigns and monitor their quality. With support tools, you will quickly see metrics about the effectiveness they are bringing. From here you will make the next decisions, changes, and factors to promote so that the next campaigns will be better and better.
Prospects of Affiliate Marketing in the Future
With the increasingly strong support of technology, Affiliate Marketing will become more and more powerful. Technology not only helps reduce time and effort but also can create new opportunities for marketers. The e-commerce market is increasingly dependent on advanced technologies to improve user experience.
It is predicted that the Affiliate Marketing trend will continue to grow stronger, especially with the rapid growth of AI or Virtual Reality. Currently, many places have also deployed virtual shopping models, combined with AI and machine learning algorithms to increasingly optimize customer experience.
Conclusion
In short, looking at affiliate marketing in 2024, it is clear that the industry is always changing. However, success with this dynamic model requires an understanding of current trends and a proactive approach that can respond to the nature of this market. Take advantage of new trends effectively, along with researching and learning carefully before implementing the campaign to avoid encountering problems when working as an Affiliate, especially for new people.
If you are a KOL/KOC looking for a reputable and professional Affiliate Marketing platform to increase your income, join Ecomobi right here today!
