According to Stephanie Harris, affiliate marketing is nearing – or actually in – maturation phase after twenty years as an industry. To avoid stagnation and present unique solutions, she believes that continuous innovation is key. Indeed, affiliate marketing has evolved over the years and it has embraced innovation, such as increased focus on utilizing high-quality content marketing and further optimizing the mobile experience. However, in order to continue to seize the profit opportunities available in affiliate marketing world, stagnation in innovation should be avoided.
In this blog, I will first show what three affiliate marketing experts think the future holds for affiliate marketing and, as a publisher regularly hired by companies, I will then comment on their ideas. Finally, I will list seven habits of successful affiliate marketers, so that you can ride that wave of affiliate marketing innovation in the future too.
The future of affiliate marketing according to three experts
If what the experts say is true, affiliate marketing’s future is bright. They do not always see affiliate marketing starting from the same spot (some say it has already evolved much and some say it is just “coming out of the shadows”), but they do see it heading in a promising direction.
1. Growth driven by ongoing retail apocalypse
David Vogelpohl, the VP of Web Strategy at WP Engine, thinks that the future of affiliate marketing over the next 10-15 years will be dominated by the evolution of multi-touch attribution and that its growth will be driven by the ongoing retail apocalypse.
Marketing departments target more touch-points and analytics platforms provide more visibility into multi-touch attribution. Therefore, affiliate advertisers will rethink their affiliate commission models and offer more variable commissions based on the weight of attribution.
The retail apocalypse forces more companies to focus on their digital presence versus their physical one. Consequently, the affiliate landscape will expand and grow thanks to the increased competition between these online brands and Amazon.
In short, advertisers will be smarter about commissions and publishers will benefit from an ever-expanding list of advertisers vying for their attention.
2. Booming opportunity
Cole Hernandez, the founder of Pink Graffiti, believes that it is a booming opportunity, especially considering the rise of freelancers and solopreneurs with online businesses.
As we look ahead, the millennials and post-millennials, who are actively benefitting from the sharing economy, understand the power of passive income. As businesses are formed, they are actively integrating affiliate marketing into their business models.
3. Out of the shadows
Yonatan Dotan, the co-founder of Affluent Analytics, notices that the affiliate marketing industry is growing and coming out of the shadows. Where it was once reserved for gambling sites, today major international brands from every market rely on affiliation as part of their marketing mix. Still, it is a far way off.
Unfortunately, right now, CMOs admit that affiliate marketing is their least mastered area of marketing. This is, in part, due to a severe lack of technology and a heavily fragmented industry, split across thousands of affiliate networks and software.
Dotan predicts a significant consolidation of affiliate networks, much more Go to the full article.
Source:: Business 2 Community