The Top 10 Affiliate Marketing Trends for 2024

With 2023 almost done it’s time to take a look at what trends we should expect in Affiliate Marketing in 2024.

Affiliate Marketing has gone through a lot of different phases. From people making bundles by just posting links on Social Media, to a focus on email marketing. And everything in the middle.

The most successful marketers in the affiliate business are those who focus on a good niche and stay consistent in offering either great content to their audience. And/or those who are willing to optimize their campaigns where needed.

So, with that flexibility in mind, let’s take a look at some of the most important trends you as an affiliate marketer need to take into account for the coming year, 2024.

AI and Affiliate Marketing

There’s no denying that 2023 is the year that AI (Artificial Intelligence) took the (online) world by storm. Automated language tools like ChatGPT, Koala, Jasper and lately Bard are widely used, next to image tools such as Dall-E or Midjourney.

And this trend will undoubtedly continue. Now, in a recent article Vox claimed that the dust of the AI trend has settled a bit. And I can concur that for the average person not that much has changed. Yet.

But when it comes to marketing, copywriting, social media experts etc, you will have seen an absolute wave of AI generated content. In all honesty, the overall quality of written content isn’t that great yet. You still have to edit text created by either ChatGPT or Bard.

But in my experience AI is excellent when it comes to research. Whether finding the perfect niche, helping you generate a great blog article, optimizing your Personal Brand, Keyword Research or taking a look at your competition, tools like ChatGPT or Bard are perfect for helping you with this. And it saves you seas of time on top of that, greatly enhancing your productivity.

If you utilize Ai for your Affiliate Marketing endeavors in the same way, the world is your oyster! 

Voice Search

Another big trend is the growth in the use of Voice Search for searching all kinds of products, items, information and services online. Tools like Siri and Alexa are already widely used for finding information or getting a nice, groovy playlist for your music. And this will only continue to grow.

Especially in E-commerce, more and more consumers are finding and ordering their products through Voice Search. Whether buying a new pair of sneakers, ordering daily groceries or a pizza or even booking a complete and detailed vacation trip, all will be done by giving out Voice Commands. Instead of typing it in the old fashioned way, on a laptop or smartphone.

For you as an affiliate marketer this means that you have to optimize your content for Voice Search. Use concise, clear and easily understandable language, aim for the featured snippet in your written content. And use Long Tail Keyword Phrases.

It will also mean that you run the risk that Voice Queries will ignore your affiliate links and direct the consumer directly to the product page. You may have to change your Affiliate tactics for that possibility.

Brands will make use of Nano and Micro influencers

Nano and Micro influencers are just like ‘normal influencers, but with a likely smaller audience (maybe with an audience of between a 1000 and 50.000 followers max). They also tend to focus more on a specific niche. For that reason they are perfect to promote products or services that are a great fit with that niche.

I myself saw the emergence of Nano and Micro influencers a couple years ago when I worked as an online marketer for a new job platform in a specific region in the Netherlands. One of our goals was to target women between the age of 30 and 45 who were thinking about making a career change. To get a boost for this platform we sponsored a female influencer in her late 30s who talked a lot about this issue on her Social Media. And got some amazing results!

There are two main advantages on using Nano and Micro Influencers:

First, the costs on average for sponsoring or hiring such an influencer are considerably less than paying a normal influencer. In some cases only 10% of what you would pay for a normal influencer.

Second, Nano and Micro Influencers tend to focus on a specific niche or audience. Their content is of interest  to a distinct group of followers. For you as an affiliate marketer, this means that if the products/services you’re promoting are a great fit with these followers it stands to reason you should reach out to this Influencer for a partnership.

The End of Third Party Cookies

Third Party Cookies are the small pieces of tracking code that online advertising tools such as Google Ads or Facebook Ads use to keep track of specific users across various platforms. They are the reason you can see ads popping up all over your browsers and Social Media the minute you’ve visited a specific webpage about a certain topic.

For Online and Affiliate Marketers this meant you could really pinpoint and find your target audience everywhere online. Great for the success of your ads!

But not so much for the privacy of the average user. For that reason more and more platforms such as Firefox and Safari are banning Third Party Cookies. Many users themselves are using VPN, masking their internet journey. And more governments, such as in Germany, are taking a stricter stance to Third Party Cookies. Google itself is in the process of phasing out Third Party Tracking and testing a new method called Google Cohort. With Google Cohort, search ads won’t target specific users based on their search and traffic history. But on their interests

The theory is that Google will group users who have similar interests, which they call a cohort. And target the group, not the individual, with ads. 

What will this mean for you, the marketer? Well, being an affiliate marketer (and an online marketer in general), means that you have to be flexible. What worked yesterday won’t work tomorrow.

So, in that case you have to rely more on First Party Data. First Party Data is data that you’ve collected from your audience with interactions through your social media, websites, e-mail etc. There is tracking software available that offers both insights into your audience, while keeping an eye on maintaining the privacy of said audience.

Next to that you need to do more research into the needs and wants of your audience. In order to offer content that is of value (or entertaining at the very least).

Video is King

Content is King is the well known saying. In my opinion, where content is King, video is emperor.

There are many different ways to create and distribute content. Written blogs still work very well, as do e-mails.

But of all the mediums for getting your content and online advertising noticed, video increasingly stands out.

And that trend will only grow, with the popularity of platforms like Tiktok. So it is advisable to make Videos part of your Content Strategy as well. Of course, I understand that not everyone wants to show their face on Youtube or Rumble. But realize that with AI tool, like Lumen5 you can very easily create informative and persuasive videos. Which you can use both as organic content and in your ads.

Linkbuilding in Affiliate Marketing: Quality over Quantity

Good old linkbuilding will still play an important role if you want your webshop or blog noticed on Google. But this time the focus is on quality over quantity.

Linkbuilding has been an effective part of your SEO strategy for years. It means getting backlinks from other websites and platforms to your website in order to improve your authority. And in the process getting more visitors.

SEO experts used to collect as many links as possible, from as many sites as possible. With maybe the only caveat being not to use spammy links. 

Now the focus is more on getting quality links. Meaning links from other websites that offer value and quality in their content (just like yours! 🙂 ) 

Again I can offer you an example from personal experience. Another client of mine had a press release published on the website of the Dutch Ministry of Economic Affairs, with a backlink to their own website. Not only did this cause a bump in organic traffic, but it was a great boost for the overall authority.

Now I don’t expect you to have connections like that, but there are still lots of opportunities for even a small blog to get quality backlinks.

Let’s say you own a blog about Drones for Beginners. Then you could get a link from another blog that has more general information and articles about tech gadgets. Or for example from a website about video. 

Coupons and Casbacks still play a role

In the realm of affiliate marketing, the steadfast presence of cashback and coupons remains prominent, and this particular trend is anticipated to persist not only throughout 2024 but also beyond.

These tools are wielded by affiliate marketers to captivate their audience and stimulate the acquisition of a brand’s offerings. Affiliate partners frequently possess exclusive coupons or discount codes. Which is great for getting sales from a new audience, especially those who were looking for a budget friendly option.

Now, you might think that using coupons may seem a little bit dated or old fashioned.

Don’t let the perception of coupons and cashback incentives as outdated strategies deceive you. These tactics remain potent marketing tools with the capacity to cultivate unwavering customer loyalty, draw in fresh patrons, and propel active participation and conversions.

Brands will focus more and more on B2B Affiliate Marketing

With Affiliate Marketing most people will have a general idea of individual marketers promoting a wide array of products. Ranging from tech gadgets on Amazon to different software apps.

But more and more companies have been utilizing Affiliate Marketing to give their B2B Marketing a boost.

B2B affiliate marketing is a type of performance-based marketing where businesses partner with other businesses to promote their products or services. In this arrangement, the affiliate promotes and refers customers to the merchant in exchange for a commission or other financial incentive.

There are many ways that brands can use B2B affiliate marketing to reach their target audience and achieve their marketing goals. Here are a few examples:

• To generate leads: Affiliate marketers can be a great source of qualified leads for B2B businesses. When an affiliate refers a lead that converts into a customer, the brand can pay the affiliate a commission. This can be a cost-effective way to generate leads for businesses that are targeting a specific audience.
• To increase brand awareness: Affiliate marketers can also help to increase brand awareness for B2B businesses. When an affiliate promotes a brand’s products or services on their website or social media channels, they are exposing their audience to the brand. This can help to build brand awareness and generate interest in the brand’s products or services.
• To drive sales: Affiliate marketers can also help to drive sales for B2B businesses. When an affiliate’s referral leads to a sale, the brand can pay the affiliate a commission. This can be a great way to increase sales for businesses that are looking to reach a wider audience.

To be successful with B2B affiliate marketing, it is important to choose the right affiliates to partner with. The affiliates should have a relevant audience that is interested in the brand’s products or services. The affiliates should also be active and engaged in their marketing efforts.

It is also important to offer affiliates a competitive commission structure. This will help to motivate affiliates to promote the brand’s products or services. Finally, it is important to provide affiliates with the resources they need to be successful. This may include marketing materials, training, and support.

B2B affiliate marketing can be a powerful tool for businesses that are looking to reach a wider audience, generate leads, and increase sales. By choosing the right affiliates and offering a competitive commission structure, businesses can make the most of this marketing channel.

Growth of Social Selling and Social Proof: The Future of Affiliate Marketing

Social selling and social proof are two powerful tools that affiliate marketers can use to boost their sales and conversions. Social selling allows affiliate marketers to reach a wider audience and build trust with potential customers, while social proof shows potential customers that your products or services are worth their trust.

To leverage social selling effectively, affiliate marketers need to create high-quality content that is relevant to their target audience and interact with their followers. To incorporate social proof into their marketing, affiliate marketers can use testimonials from satisfied customers, case studies, or social media posts.

By using social selling and social proof, affiliate marketers can create a winning marketing strategy that will help them achieve their goals.

Affiliate Marketing marketing will continue to grow

The future of affiliate marketing is bright. The industry is expected to reach $36.9 billion by 2030, with a compound annual growth rate (CAGR) of 7.7% from 2023 to 2030.

Here are some of the factors that are driving the growth of affiliate marketing:

• The increasing popularity of e-commerce: E-commerce sales are expected to reach $4.9 trillion in 2023, up from $3.5 trillion in 2021. This growth will create new opportunities for affiliate marketers to reach and engage customers.
• The growing use of social media: Social media is now an essential part of many people’s lives, and it is a powerful tool for affiliate marketers. By creating engaging content and building relationships with influencers, affiliate marketers can reach a large audience on social media.
• The rise of mobile commerce: Mobile commerce is growing rapidly, and it is now the preferred way to shop for many people. This trend is creating new opportunities for affiliate marketers to reach customers on their mobile devices.

In terms of monetary value, affiliate marketing spending in 2022 is predicted to be around $11 billion. This is up from $8.2 billion in 2021, and it is expected to continue to grow in the coming years.

Conclusion

As these trends show, Affiliate Marketing will only continue to grow regardless of economic conditions.

Whether you are a marketer focused on B2B or B2C, there are huge opportunities.

It is recommended that you remain flexible. That you can adapt to new technologies, such as AI and Voice Search. You should also take into account stricter measures in the area of Third Party Cookies and Tracking.

So get to work!