With the end of this challenging year approaching, it’s time to talk about what’s in store for affiliate marketing in 2023. We’ve highlighted a few current trends that demonstrate why affiliate marketing is still a viable revenue source. Continue reading to learn which verticals will continue to generate revenue, what industry innovations to expect, and what to bet on in the future.
Affiliate marketing in the Metaverse
The birth of the metaverse is one recent trend that has taken off. The metaverse is transforming remote working trends, the gaming industry, and now marketing/advertising, bringing us one step closer to a “virtual” tomorrow.
Following Mark Zuckerberg’s 2021 Meta announcement, the gaming industry, in particular, has seen significant growth. As metaverse platforms like Horizon Worlds, Roblox, and Fortnite pave the way for in-game advertising, digital transactions, and immersive marketing, affiliate strategies in 2023 may center on the metaverse.
Affiliate marketers who position themselves within the metaverse will have numerous options moving forward. There are a variety of ways to pair with metaverse platforms and see spikes in user engagement, from promoting virtual products to becoming an avatar or even creating their own virtual world.
Take, for example, Balenciaga. In collaboration with Fortnite, the fashion brand continues to promote its clothing virtually, allowing customers to purchase digital versions of their products and providing affiliate links to their website within the game.
Voice search is on the rise
Voice search is currently being developed. However, it is gradually becoming a marketing force to be reckoned with. Have you ever used your phone’s voice recognition software to search for something? If so, you most likely used the voice search marketing strategy.
Several statistics show that mobile devices account for 50% of affiliate marketers’ traffic, and many of us now use voice search for almost everything. In a few months or years, voice-activated searches will be a big part of affiliate marketing for many people.
As you might expect, long-tail SEO is likely the best way to capitalize on this trend. Make sure you conduct adequate keyword research and other SEO-related tasks to determine what your leads and potential customers are looking for when they use their voice.
Increasing focus on video and podcast
Video is one of the most preferred forms of content for consumers and one of the most rapidly growing trends for affiliate marketers to jump on board with.
With YouTube introducing shorts in 2021 and more social media channels emphasizing video content over still images, working with video affiliates will become more popular.
There are several ways to incorporate video into your affiliate marketing strategy.
Locate and collaborate with video-savvy affiliates. This includes TikTokkers, Snapchatters, YouTubers, live streamers, Instagram Stories, and Facebook Live influencers, among others.
Bigger podcasters have already been advertising for years, but in 2023, more brands will want to grab a piece of the pie.
This means that smaller podcasters in specific niches will get advertising deals, and bigger podcasters with highly engaged audiences will face more competition for placements.
The idea is straightforward. The podcaster creates an advertisement to play at the start, middle, or end of their podcast. Typically, this promotion is combined with a coupon code and a text link in the show notes.
A future without cookies
Following Google’s announcement that third-party cookies will be phased out in 2021, affiliate marketers will need to adjust to what the future of audience targeting may look like in the coming years — namely, a future without cookies!
While third-party data was once responsible for frequency capping, demographic targeting, and the all-important analytics required to create a successful campaign, first-party data campaigning and contextual targeting will see a significant shift by 2023.
You can improve your marketing in the cookieless future without invading your users’ privacy by improving your analysis of referral sources and your analysis of your target audience.
Continuous explosion of working with influencers
The rise of social media influencers has altered the marketing landscape. In fact, according to a survey conducted earlier this year, 14% of older Gen Z’spurchased an item in the previous six months based on the recommendation of an influencer. Furthermore, a study discovered that influencer marketing generates 11 times the return on investment as a traditional banner ad campaign.
Influencers make excellent affiliates for a variety of reasons. One of the most important things is that they already have a following. These content creators don’t even have to be famous. Many ordinary people with engaging social media content can amass a sizable following.
Furthermore, micro-influencers have a more engaged following and thus, a greater influence over purchasing decisions. When an influencer’s total number of followers grows, so does the rate of engagement (likes and comments) with those followers. Higher engagement rates imply greater visibility, and a micro-post influencer’s is more likely to appear at the top of their followers’ feeds.
Get ahead of the competition
In practice, many of these affiliate marketing trends are just beginning to emerge. However, 2023 is expected to be a year of digital evolution for social platforms, search engines, and the brands that populate them.
We are excited to help you catch up with these trends with creative campaigns; check out what we can do in affiliate marketing.