10 Affiliate Marketing Trends to Look out for in 2022
We have already seen that the affiliate marketing industry has had a bit of a boom over the past couple of years due to covid, and the need for businesses to innovate and get more eyes on their products or services. But what about the future? Looking forward, what trends will 2022 bring for affiliate marketing?
Here’s what we’ll cover:
- Brands will go more data-driven
- Increase in budgets for 2022
- Micro and nano influencers explode in popularity
- AI and automation will transform the industry
- Loyalty marketing will be part of the affiliate mix
- Live shopping will become more mainstream
- Innovation with affiliates
- Crypto will become more mainstream
- Comarketing between affiliates to benefit brands
- More competition than ever before for brands and affiliates
Brands will go more data-driven than ever before
Data will be the keyword of 2022. With more and more businesses looking for campaigns that deliver real results, companies will start to focus more on data in their campaigns than ever before, particularly in light of 3rd party cookies being phased out.
Brands will measure campaign results in terms of return on investment, and actual sales. Their focus will be on getting results and optimizing campaigns for success. They will become much more strategic as a result both with who they work with and the content that the partners produce, and we are not just talking about influencers.
With each affiliate campaign, trial and error will be a significant part of this strategy, until they find the right mix to get the return on investment and revenue they are looking for.
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Increase in affiliate marketing budgets
With more and more companies diving into affiliate marketing over the past year due to the pandemic, in 2022 we will see another big increase in budgets for affiliate marketing. Statista estimates that spend on affiliate marketing will reach $8.2 billion in 2022 in it’s highest jump since 2015. This is partly due to the increase in popularity of influencer marketing and influencers using the commission payment model, and partly because affiliate marketing is becoming more and more popular as a whole because of the global pandemic.
Image source: Statista
Over the past couple of months, Instagram has been responsible for bringing influencer affiliate marketing into the mainstream by trialing affiliate marketing for itself with a select number of brands and influencers who have been given access. This has paved the way for more brands to discover affiliate marketing and use the commission payment model to increase revenue for their business.
Explosion of micro and nano influencers
I know we keep harping on about influencers, but that’s because they are so popular. This popularity will reach new heights in 2022, and micro and nano influencers will dominate the affiliate marketing industry as a whole. Brands who are on a budget will seek out micro influencers and nano influencers to work with on an affiliate basis to maximize their return on investment. More budget will be put aside for influencer campaigns, and a large chunk of that will be for micro and nano influencers who are experts in their fields.
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AI and automation will transform affiliate marketing
Artificial intelligence will change affiliate marketing in 2022. It will save brands time, energy, and resources, and enable companies to increase their sales. It could be anything from helping you find an influencer or affiliate for your campaign, or having an AI affiliate that helps your brand increase your basket value. Either way, it looks set to change how brands work on affiliate marketing.
Loyalty marketing as part of the affiliate marketing mix
Loyalty marketing will become part of the affiliate marketing mix to encourage shoppers to keep coming back again and again. Incentives will be allocated to customers easily using the same tech as affiliate marketing software.
Incentives like cashback, charity donations or points will enable the advertisers to form closer relationships with their customers. They will be able to reward customers more than a cashback website because the customers will be shopping directly with the brand.
Live shopping will become more popular and mainstream on social
Already a booming industry in China, live shopping will increase in popularity in other markets. Livestream shopping will be something that influencers get into more and more - it’s already gaining some popularity on platforms such as twitch, where gamers will play a game, and then issue a coupon code to drive sales. In November, YouTube hosted a live shopping week for the first time, and it will become an increasingly popular channel as more and more influencers jump onto the bandwagon.
More diverse affiliates for advertisers than ever before
There are several different affiliate types that advertisers can work with, but every year innovation gives advertisers more options to diversify their revenue. 2022 will be no exception. Whether that’s innovations with AI affiliates, to new groundbreaking apps, or employees, it will offer advertisers more opportunities to grow their business and get in front of new audiences.
Crypto to become more mainstream
Cryptocurrencies have become more and more mainstream over the past couple of years. Since bitcoin launched in 2009, the industry as a whole has grown tenfold. More and more people are investing in altcoins, and last year, NFTs exploded onto the scene. This opens the door for more crypto advertisers and affiliates to partner up and maximize their revenue as it becomes more mainstream, and governments and banks start to accept and invest in the industry.
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Comarketing partnerships between affiliates to benefit everyone
In 2022, comarketing partnerships between affiliates will start to gain popularity, which will be a great opportunity for advertisers to earn more revenue and get a more diverse audience in front of their products or services.
For affiliates, the opportunities for comarketing are endless - content affiliates could collaborate with one another, or different affiliate types could work together to maximize their revenue.
In terms of comarketing and commissions, it could look like a revenue share agreement between the two, or each keeping the commissions their site referred, depending on the partnership, or passing on a percentage of their own commission to the other.
More competition for brands and affiliates - more people looking to stand out
2022 will see increased competition in the affiliate marketing world. Affiliates and advertisers will look to Quora to find new niches and offerings that will help them stand out, help people, and increase their revenue. Why? Because Quora is often a last resort where people go to find answers they can’t find on Google.
For brands looking to increase their revenue, finding those key product and service niches is essential - it means you can stock up on a product and start an affiliate campaign around it to generate more sales.
For affiliates, being able to provide an answer to those questions on your website, or in an answer can provide a valuable additional revenue stream.
So, watch out for these key trends in 2022 and stay ahead of your competition. We hope you enjoyed this article.