Affiliate marketing is becoming more popular year by year. Companies around the world are more likely to benefit from affiliate marketing, according to Market Splash, 84% of companies use affiliate programs, with affiliate marketing spending in the US exceeding $8.2 billion in 2022. Check why your company should go the same way and take advantage of affiliate marketing. Affiliate opens up opportunities for you to expand your target audience, increase your earnings, precise tracking of results and cost optimization of marketing activities.

Affiliate marketing statistics

Affiliate marketing is growing year-by-year, as you can see above. In contrast, a report conducted by Proficient Market Insights, cited in the Blogging Wizard article, forecasts that the value of the affiliate marketing industry will grow to a dizzying $27 billion (it currently stands at $8 billion). In a contest of promotional and marketing activities online, a popular phrase was “you are not on social media, then you do not exist”.

Today the case is similar for affiliate marketing, so if your company is not taking advantage of affiliate campaigns, every day it loses the chance to gain new customers and, consequently, more profit.

Choosing a good affiliate network

Now that you know that it’s a mistake not to use affiliate marketing when promoting your products or services, it’s time to take the first step toward affiliate marketing, which is choosing the right affiliate network. On the market the competition between affiliate networks is huge, but there are networks, which stand out. What should offer you a perfect affiliate network?

• Perfect affiliate network provides you with individual support and capabilities of negotiating cooperation terms.
• Technical support during integration process with affiliate network,  assistance in setting the terms of the affiliate program. Consequently, the ideal affiliate network will also give you a hint of the most advantageous model or forbidden terms of cooperation worth considering.
• Affiliate networks should provide you with an anti-fraud system and capability of verification of delivered traffic by publishers.
• Affiliate network should provide you with wide range of verified publishers
• With a  professional affiliate network you don't need to spend time on verifications and any other problems because the affiliate managers are here to take care of it.

You are probably wondering if there is an affiliate platform that can meet all your expectations? Yes, MyLead affiliate network stands out for its unmatched support and readiness to help at every stage of the cooperation - from the beginning, through integration to the first payouts. 

Our team is based on experienced specialists, who are ready to give you support whenever you need it. MyLead, in contrast to different affiliate networks, can boast a large group of vetted publishers and a wide network of partners with whom your company can partner. If you want to partner with MyLead, fill out this form:

Reasons why your company should take advantage of affiliate marketing

The main advantage of affiliate marketing is that you can benefit from relatively cheap and effective advertising. You don’t need to spend valuable time on marketing activities, this is where publishers step into and promote your affiliate program in the way they choose. Affiliate marketing is based on commission, which motivates publishers to undertake effective advertising activities for new customer acquisition and increase sales of your affiliate program. So you are assured that the publisher is working at 100% of his capacity to promote the product or service. The effectiveness of his work determines how much he earns. Let’s look closer to affiliate marketing advantages:

You pay for effects, not promises

First of all, affiliate marketing is not related to high risk. You pay only for performance, not for clicks, which make affiliates a low risk marketing form. In traditional advertising models you often pay for ad exposure or clicks, with no guarantee of results. In affiliate marketing, costs are based on specific results, which means you only pay when the intended goals are achieved. You are also in charge of your affiliate program, which means that you can set the rules of promotion like forbidden activities, regulations and the way that you want to promote your product or service.

Variety of traffic sources

One of key reasons, which affiliate is worth considering is the unlimited variety of traffic sources. By having its own affiliate program, the company opens the door to a myriad of creative promotional strategies on the part of publishers. This not only guarantees efficiency in reaching a diverse audience, but also makes it possible to reach a much wider range of potential customers. With this flexibility, affiliate marketing becomes not only an effective promotional tool, but also a strategic partner in creating a variety of traffic acquisition channels.

Tracking results

Affiliate marketing offers precise campaigns effectiveness tracking. You can track which campaigns are the most effective, what activities affiliates take, and also track conversion paths. Precise tracking conversion rate allows you to understand how clients go through the purchase process. This is key information that gives you the opportunity to adjust content, offer and whole purchase experience in target of conversion effectiveness maximization. By analyzing data from the affiliate campaigns, you can also develop long-term marketing strategies.

Expanded coverage

Thanks to cooperation with different publishers, your company can reach new market segments and thus a wide new audience, which is a highly hard task with traditional marketing methods. Partnership with an affiliate network allows you to direct your advertising message to better-defined target groups. By operating in specific niches, you can reach audiences with specific interests, which is often difficult to achieve with traditional media.

Optimization of marketing activities

Thanks to analysis acquired from affiliate campaigns, you can optimize the marketing strategy of your company and client’s behavior. It allows you to optimize costs for different marketing campaigns in your company. Tracking the results of affiliate programs allows you to react quickly to changes in the market. Dynamically adapting the marketing strategy to current trends keeps the company competitive and increases its flexibility.

Increasing confidence

Recommendations on credible affiliate profiles can increase consumer confidence in your brand. People often trust opinions and recommendations, especially if they come from individuals or companies that observe and respect. Consumers care about other people's opinions. Affiliate publishers can deliver valuable reviews of your products and services, which has a positive impact on purchasing decisions. This is especially important when the recommendations come from trusted sources.

Case study - Evidence of effectiveness of affiliate marketing

Need more proof that your company should use affiliate marketing? Check out the case study of one of our partners - AleRabat. Discover how many conversions this program generated and how an effective strategy can revolutionize your business.

Conclusion

In conclusion, affiliate marketing is a rapidly growing branch of promotional activities, and the numbers leave no doubt about its effectiveness. Year after year, more and more companies are using affiliate programs, as Market Splash reports that spending on affiliate marketing in the US has reached an impressive 8.2 million dollars in 2022. So if you don’t want your business to fall behind the competition, you need to open the doors wide for affiliates in your business! 

Affiliate marketing accounts for more than 16% of all online orders in the US and Canada, 84% of companies use affiliate programs so that’s definitely telling us it is worth it to benefit from it too. The advantages of affiliate marketing are numerous. It is an effective and economical form of marketing where you pay only for results, which minimizes the risk of investment. In addition, affiliation is access to a variety of traffic sources, enables precise tracking of results, increases trust through recommendations, and broadens your company’s target audience of potential customers. 

Ultimately, not using affiliate marketing can lead to missed opportunities to gain new customers and increase revenue. Affiliate marketing is a win-win solution, in this arrangement, everyone benefits - you and the publishers who are promoting your affiliate program.