Affiliate marketing is all the rage right now. It’s a commission-based system that allows you to work with content creators, influencers, review writers, and other types of partners who can promote your brand and help you reach a wider audience to boost your sales.
With the ever-expanding success of social media and different digital channels, affiliate marketing has advanced exponentially in recent years, and it’s projected to grow up to 15.2% within the next decade. When done correctly, an affiliate program can be a powerful strategy to promote your products or services.
Top 10 Affiliate Marketing Stats in 2021
Instituting an affiliate program is one of the most popular ways of monetizing your online presence. It’s an excellent tool for driving traffic to your site and increasing your company’s revenue. In case if you’re still on the fence about incorporating this effective element into your digital marketing strategy, here are some of the most compelling stats on affiliate marketing.
1. Affiliate Marketing is a Fast-Growing Industry
According to data gathered by Statista, this industry has triplicated in value in the past 10 years. In the U.S., affiliate marketing spending is expected to reach $8.2 billion by the last trimester of 2022.
2. Affiliate Marketing Is Vastly Popular Among Brands and Publishers Alike
An independent study by Forrester Consulting commissioned by Rakuten suggested this performance-based digital marketing element is widely favored by 80% of marketers — and with good reason. Affiliate marketing allows businesses to pay only for what they get and requires a very small initial investment. On the other side, publishers are incentivized by increased traffic and income, which is why 84% resort to this widespread tool.
3. Affiliate Marketing Accounts for a Significant Percentage of eCommerce Sales
Recent trends reveal that affiliate marketing is behind about 16% of all online sales. That number is huge when compared to what other digital advertising methods can bring to the table. Moreover, a properly implemented affiliate program could increase a brand’s revenue by up to 30%.
4. Online shoppers Heavily Rely on Affiliate Websites
According to a report by Business Insider Intelligence, roughly 74% of online shoppers in the U.S. check multiple affiliate websites before purchasing a specific product or service. This means that the vast majority of consumers value opinions and reviews, and rely on what trustworthy affiliates say to make their most important buying decisions.
5. The General Interest in Affiliate Marketing Keeps on Growing
Based on Google Trends data, the query “affiliate marketing” has grown in popularity by over 200% in the past six years. This means more people than ever are aware of these types of programs and as internet users (specifically content creators and influencers) search for alternative sources of income, the affiliate partner offer is on the rise.
6. Up To Half of all Affiliate Traffic Comes From Mobile Devices
According to an article by SaasScout, about 50% of all affiliate traffic comes from mobile devices, meaning most affiliate-referred traffic is generated on the go. As long as smartphone technology keeps on developing and the number of online buyers on mobile increases, this tendency is likely to remain popular.
7. Affiliate Marketing Is the Top Customer Acquisition Channel
The U.S. is home to more than two-thirds of affiliate partners worldwide. Recent surveys state that 40% of merchants across the country report affiliate programs are their leading customer acquisition channels.
8. Affiliate Marketing Provides Exposure Beyond Compare
According to the Internet Advertising Bureau, 4 billion clicks on affiliate links equal hundreds of millions of impressions and could potentially mean over 170 million transactions worldwide. This means that affiliate links have a strong conversion potential when properly implemented.
9. The Fashion Industry Dominates the Affiliate Marketing World
Results from an AM Navigator study suggest that the fashion industry has the most affiliate programs, accounting for up to 25% of partnerships worldwide. It’s closely followed by the sports and outdoors market which accounts for 18%, and health and beauty making up 14%. Other flourishing categories are travel, electronics, and garden.
10. Most Marketers Use Affiliate Programs to Engage Existing Customers
Besides being an excellent tool to create brand awareness, affiliate marketing is perfect for building and sustaining strong relationships with captive clients. According to Rakuten Advertising, 79% of marketers use affiliate marketing to engage existing customers.
Getting Started With Affiliate Marketing
Affiliate marketing is a highly relevant industry in this day and age, and it’s expected to thrive for years to come. If you need additional help kickstarting your affiliate program, take advantage of the affiliate program features LeadDyno can provide for you. Contact us and start your 30-day free trial today.
