As we continue to navigate through testing economic times, it’s extremely important, now more than ever, to reflect on where budgets are being directed.
This inevitably raises the questions: What channels should I be betting my marketing budget on, and where is the safest bet, if I want to guarantee ROI?
Hello Partner’s Salary and Spending Report found companies were increasing their budgets across multiple channels in the past year, with a 33% rise in affiliate marketing, and 28% in influencer marketing.
To explain the best ways to budget this year, Hello Partner was joined by Beckii Flint, Influencer Marketing Specialist and Co-Founder at Pepper Studio, and Marcelle Leslie, Head of Affiliate Global Partnerships at Karma.
The main points of discussion
Our panel discussed what channels they believe are the safest to bet budget on when in economically difficult times, as they explored the value of both affiliate and influencer marketing for brands.
Amongst the array of topics covered, Flint agreed planning is key, but she also emphasised how influencers are increasingly viewed as a safe bet when marketers are looking for channels to spend their budget in.
She explained, “It feels like a safe bet because you bundle so many benefits into one. It’s not just the organic content and performance, but it's also brand engagement, content creation, and building partnerships that last for years. You’re generating assets for your brand and gaining usage rights for them as well.”
Although economic times are tough, Leslie believes the affiliate channel remains one of the safest options for marketer’s budgets, offering the reliability of voucher codes and coupon sites.
She says, “We’ve seen that budgets that are allocated for these particular coupon and discount sites, value minded, are going to win. It’s a guarantee, but the technology, innovation, enhancement of these publishers have really improved over time. We’re able to capture the shopper through the entire journey, which is the best way to make sure your marketing budget is going to be diversified in the most efficient way possible.”
With hard choices facing all decision-makers on where budget spends will go, we wanted to know what strategies are being looked at by those at the top of the marketing tree. Is now the right moment for industry leaders to explore new avenues? Watch the webinar below!