The AffiliateINSIDER Summit took place at the end of January and it was a brilliant event! Across two days, we discussed all the ins and outs of some of the key points of affiliate marketing, partner programs, and strategies and trends for 2022.
We opened Day 2 of the Summit with Amplifying your Affiliate Partner Performance in a Fragmented Marketplace. This panel was moderated by Lee-Ann Johnstone, the CEO and Founder of AffiliateINSIDER and it was sponsored by Partnerize.
Of course, the panel was also packed with experts who were able to offer their own insights and thoughts. They were:
- Seth Rubin, MD Grow by TradeDoubler
- Maura Smith, SVP of Marketing at Partnerize
- Chris Tradgett, CMO at Publisher Discover
- Alex Markov, Founder and CEO at Refersion
This interesting and insightful panel was the perfect way to kick off the discussions on Day 2 of the Summit!
What have the challenges been across the past few years?
Even across the previous two years, the landscape of affiliate marketing has transformed massively and has diversified across many fronts. One of the most common partner programs we have seen arising is coupons, vouchers, and cashback. There has also been an increase in “content commerce” which has helped to drive traffic and revenue.
Customers want to look for more meaningful content from the affiliates that they are headed to, with credit also given to the affiliates themselves. Due to this, companies need to consider investing in such programs.
A one-size-fits-all approach no longer works with affiliate marketing as things are now just simply too diverse. Younger demographics want authenticity – they want that tailored effort that tells a story so it is vital that influencers and affiliates working with a brand are able to properly represent it.
Companies need to view affiliate marketing more as a model since it encompasses so many different channels from email marketing to influencers and more. In doing so, brands and managers may be able to find more value.
What should affiliate managers do going forward?
Moving forward, there are several things that affiliate managers need to do in order to be able to successfully navigate this fragmented marketplace.
Firstly, they should consider providing their partners with more resources and educational tools. This will help to ensure that they are well-informed and able to carry the brand messaging across all of their posts.
Remember that it is also quite rare for an affiliate to work with just one program. This means that your own affiliates might also be your competitors. It is vital that you research what the other brands in your niche are doing so you can optimise best for your own performance.
Finally, affiliate managers need to bear in mind that their affiliate partner could also be their customer. If you are to work effectively with them, you also need to ensure that you build a tight partnership.
The future of affiliate marketing
Affiliate marketing might have changed a lot in the past few years, but it shows no signs whatsoever that this is going to slow down. Another two years might go by, and the affiliate marketing of 2024 could be very different from what we see now in 2022. Due to this, we asked our panellists how things might evolve.
It is thought that there will be more brand-to-brand relationships building between non-competing brands. Co-branding efforts will help to grow reach, and will prove to be effective for both parties.
The next generation of customers will also be to look for the brands that they can trust, and meaningful content from those brands. Longevity will not be sustainable for a company unless they put the work in to accommodate the preferences of this younger generation.
Video content will continue to rise in importance and will be an even more prominent form of content. Customers will want to engage with longer video content. It is also thought that embedded tech and product placement will appear when videos are paused but not during the videos themselves.
Brands will build closer relationships with their affiliate partners than ever before. This might involve taking on micro-influencers and smaller level businesses if they do not do so already.
Advice from panellists
When it comes to what our panellists thought affiliate managers should do, things were very clear.
Firstly, it is important to invest internally in talent. Education is always going to be vital, particularly with advancing technological developments.
It is also vital to keep up to date with the latest news around the world. Whether it is blogs, podcasts, or even just notifications on your phone, it is crucial that you take the time to ensure that you stay in the loop.
Remember, at the end of the day, this is a relationship industry, and this needs to be your focus if you are to be successful in the long term.
This was a great panel and really helped us to AMPLIFY our affiliate marketing strategies. Make sure you are signed up for the AffiliateINSIDER Elevate Summit in June so you can pick up more tips for the biggest marketing trends of 2022.
Don’t forget to also check out the full video for the Amplifying your Affiliate Partner Performance in a Fragmented Marketplace so you can see everything our panellists discussed!