Affiliate marketing has come a long way since its early days on the internet. Strategies, technologies, and partnerships have grown more advanced and sophisticated, from how brands work with affiliates to tracking commissions and sales. Not only can affiliate marketing help brands drive sales, but it can also help build brand awareness by increasing exposure to customers the brand may not otherwise be able to reach. It’s cost-effective, and in a time of growing e-commerce, brands need to take a strategic approach to budgeting for their affiliate programmes.
Affiliate marketing drives 16% of e-commerce sales. Meanwhile, e-commerce exploded during the pandemic, surging from $598 billion in the U.S. in 2019 to $791 billion in 2020. As a result, companies have re-evaluated where they’re spending their advertising dollars and doubled down on channels that deliver results – especially partnership marketing, which has become a much more critical marketing channel for brands.
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