Affiliate marketing is a lucrative field, but it's also a highly competitive one. Stay ahead of your game by following these trends.
Affiliate marketing can help you stay on top of your overall marketing game. Whether you need more sales, attention, or satisfied customers, growing and optimizing your affiliate marketing program is critical to improving business performance.
From the popularity of micro-influencers to trendsetting eco-friendly products and services, affiliate marketing will face a major shift in 2023.
You'll notice that successful companies take advantage of this type of marketing by promoting their brand based on what the market or their particular niche is doing . This is a great opportunity to review your affiliate marketing budget and take the time to do your research!
If you're an affiliate marketer or know someone who does, remember that 2023 will bring new trends that will change the current landscape . Affiliate partnerships must provide customers with premium content and boost online sales.
So, what are the upcoming trends in affiliate marketing in 2023? Are there entirely new ventures, or should marketing pros emphasize existing practices?
Finally, as the new year begins, how can you capitalize on the latest buzz among affiliate marketers and capitalize on the new wave to attract more clients, earn more commissions, and make higher profits?
Table of contents
2. Strengthen link building and co-marketing
4. The turning point of the metaverse
5. Virtual and in-person shopping
6. Keep an eye on micro-influencers
7. Trending industries: environmental protection products and SaaS
8. Take advantage of cross-device tracking ️♀️
10. Social selling continues to rise
11. Did someone say crypto affiliate marketing?
1. Optimize voice search
The growing popularity of voice assistants such as Amazon Echo, Alexa, and Google Home is shaping our everyday habits—more than 42.1% of the U.S. population will own them by 2022 . They help with purchasing decisions, weather forecasts, and the overall user experience of new products.
Therefore, you have to take into account that your customers are using them on a daily basis and you have to cater to their needs accordingly. This is one of the biggest affiliate marketing trends of 2023 . Who wouldn't want to reach half the U.S. population and make them their customers?
You should adjust your marketing strategy to ensure that voice search functions on your affiliated products or services.
Give customers convenient and easy access by letting them put items into their carts with their voice .
Make sure to include long tail keywords in your content so people can find your business and place an order! Standard SEO practices are critical to improving your store's search rankings. Make sure you post original content and start publishing blog posts that are relevant to your niche!
You can even experiment with guest posts to get more organic traffic and help your affiliate marketing business take on new challenges. It's a great way to meet other content creators and develop long-term partnerships.
Affiliate marketing experts need to keep an eye on voice assistants , as they will become the norm in many homes and can be a great tool to attract more customers. A wider audience can translate into a larger customer base if you publish authentic content!
2. Strengthen link building and co-marketing
What should affiliate marketers be looking out for next? It enhances link building and joint marketing! If this sounds a bit complicated, let's break it down into two parts, since it's closely related to search marketing.
Link building is simply the process of getting links to your website from other websites to improve your ranking in search engines like Google. It can be the source of an affiliate link or a landing page.
It will help in the organic traffic of your website.
It's closely related to the practice of SEO, and as an affiliate marketer, you should already know the basics of it. However, you can always ask an expert or read more about it! It is one of the best affiliate marketing tools to gain a larger client base.
In 2022, there are major updates to search engines , Google, for example, has ten algorithm updates, and it will likely carry over into the next year as they become more evolved and "smart". Such disruptions should reflect your advertising strategy and necessary changes.
Co-marketing, on the other hand, is a collaboration with another brand through which you promote each other's businesses interchangeably. It involves creating syndicated content, hosting live sessions, organizing product update announcements, and more!
Affiliate marketers can benefit from joint marketing as they can reach new target audiences, gain attention and increase sales. This is a great way to connect with content creators and cement your reputation in the affiliate industry!
3. No cookies
Don't feel bad if you see the next trend being "no cookies"—we're not talking delicacies.
Cookies are small text files that are stored on your computer when you visit a website and are used to track your behavior and preferences.
You'll notice third-party cookie banners that pop up whenever you enter a new website. Normally, I would click accept and move on with my life, but that little banner has a lot of power. You are effectively authorizing the website to collect your data .
We know this is an important part of affiliate marketing, but we need to get more creative about understanding our customers . Privacy concerns are so strong that many browsers have begun restricting the use of cookies. The time for a "cookie-free future" has arrived.
If cookies are critical to your business as an affiliate marketer, you can use alternatives like browser footprinting or link-based tracking to see what your customers like and monitor affiliate traffic.
This is one of the biggest changes in e-commerce in the past few years.
Also, the affiliate marketing niche needs to comply with regulations regarding data usage, so read GDPR and CCPA ! It has changed over the past few years, so a refresher is essential to running a successful affiliate marketing campaign.
4. The turning point of the metaverse
Mark Zuckerberg (Mark Zuckerberg) may be a hot topic during the pandemic of his company Meta, but the term " metaverse " is getting attention again. If you run an affiliate marketing business, you can benefit from making an informed decision.
Affiliate marketing professionals can use the metaverse , a virtual world accessible through the Internet, to attract more customers by interacting with users and organizing events in the digital space.
It's great for contextual targeting and boosting affiliate marketing sales.
How do you incorporate such a virtual world exploration into your affiliate marketing strategy? You need to keep your creative juices flowing! It can help you attract new customers, close online sales, and develop an advertising strategy.
A virtual storefront or participation in events can increase your brand awareness. In the Metaverse, you can even run virtual influencer marketing campaigns! It's a real-world simulation with a global audience full of potential customers.
Affiliate marketers can stay on top of their game and get more clients by fighting the ever- advancing technology . The Metaverse is a great example of the changing affiliate marketing landscape, and 2023 is the time to experiment with your strategies.
5. Virtual and in-person shopping
Another trend that affiliate marketers should look forward to in 2023 is virtual and on-site shopping. Who hasn't shopped online in the past six months ? Virtual shopping can save a lot of people during the peak holiday season when shopping for gifts or during busy times in general.
Ecommerce stores are accessible and easy to navigate, so it's no surprise that people tend to prefer them to brick-and-mortar stores. Virtual shopping allows customers to shop online as they would in a regular store .
This is e-commerce with a human touch.
Also, the retail e-commerce niche is huge. Sales in 2021 will reach USD 4.9 trillion globally .
These numbers provide affiliate marketing experts with opportunities to work with brands and retailers in the online shopping category. Why? This is a great way to boost sales and be discovered by a wider audience.
But what is live shopping? Live shopping is shopping through live streaming . It's becoming increasingly popular because shoppers can ask questions about products as the live stream goes live. Engagement and interaction are all the rage.
Another advantage of affiliate marketing via livestreaming is that most livestreaming takes place via social media platforms such as YouTube or Instagram. So you're bringing your product to people and making it easier for them to buy.
Even high-end luxury brands like Prada have online stores that offer a wide range of cosmetic bags, clothes, and accessories. That's how you know affiliate marketers need to be aware of changes in customers' shopping habits.
6. Keep an eye on micro-influencers
To drive more sales in the affiliate marketing industry, consider hiring micro-influencers to promote your business .
While these influencers don’t have huge followings, they have the two most important things for an engaged audience — credibility and relevance.
Micro-influencers build trust with their audience by responding to their wants and needs with content . Since micro-influencers typically focus on everyday content, many find it relevant and easy to follow. It fosters trust between the influencer and the audience.
Affiliate marketers should not be deterred from working with micro-influencers if their follower count is low. Typically, their engagement rates are very high , and this metric can have a positive impact on the success of an affiliate marketing campaign.
Therefore, these influencers are more likely to successfully promote the product. Although their audience is relatively small, they are more engaged with premium content. That's why influencer marketing will be a big trend in 2023.
The influencer industry will continue to grow through 2023, and affiliate marketers could benefit from taking the less traveled route when hiring promoters. Working with micro-influencers is cost-effective and can yield great results due to authenticity!
7. Trending industries: environmental protection products and SaaS
Another trend that affiliate marketers should look forward to in 2023 is the growing demand for eco-friendly products and SaaS (software as a service). AI will also catch on, but that's a long story.
We've already seen the impact of climate change on media coverage and how it affects our ecosystems, our daily lives and our shopping habits. Due to sustainability and conscious decision to buy socially responsible brands, more and more people are opting for eco-friendly products.
Additionally, SaaS companies often offer sustainable solutions when promoting their services . It can include paperless initiatives, remote working and digital tool selection. And these solutions are just the tip of the SaaS iceberg.
Affiliate marketing campaigns can benefit from a subscription-based SaaS offering because of the longevity it offers. Many customers won’t unsubscribe even if they don’t like the product, and marketers can negotiate good deals with these companies to stay ahead.
8. Take advantage of cross-device tracking ️♀️
In the early 2000s, people were excited about mobile devices because they made communication easier. Then we have Wi-Fi and accessible Internet everywhere.
In 2023, smartphones, laptops, and smartwatches will shape the affiliate marketing industry.
As an affiliate marketer, consider that your customers use multiple smart devices throughout the day , and they can switch between them while browsing the web. You need cross-device tracking to understand their behavior and preferences!
As mobile users take over business, desktops have declined in popularity. This is why organic traffic from mobile devices is one of the trends for affiliate marketers. With the help of many analytics tools , such as Hotjar, affiliate marketers can easily track customer behavior.
Even with cookies disabled , cross-device tracking can work, making your marketing efforts more targeted and easier to reach your desired audience. Take advantage of this affiliate marketing trend, it could be the key to your affiliate marketing success!
9. More coupons and cashback
Did you know that Coca-Cola issued its first coupon in 1887? And in 2022, digital coupons redeemed will be worth approximately $91 billion!
Some people think coupons are "old school". However, they have worked wonders for companies to maintain relationships with loyal customers and increase conversion rates for new customers! Also, it benefits the customer experience.
Thanks to technological advancements, companies can use digital coupons to attract more customers. It is prevalent in apps, software programs, and other technology-based products or services.
Affiliate marketing specialists can look for referral programs that provide digital coupons to referred users and allow people to earn passive income. For example, the passive income app Honeygain offers a $5 coupon for referring users.
These referral programs benefit both current users and potential customers.
Hence, affiliate marketers can utilize these programs to increase their client base and earn higher profits . The digital coupon trend is likely to become even more popular in 2023.
Your affiliate strategy can vary and help you analyze ways to attract users to the buying stage. Cashback is an influential advertiser; you can take advantage of it on your eCommerce website .
Coupons and cash back programs are integral for retailers to encourage their current customers to make more purchases. Affiliate marketing can benefit from such programs too! Notably, coupons and cash back can turn your new customers into repeat customers.
Plus, coupons and cashback are great ways to stand out from other affiliate marketing programs. It's a crowded industry where everyone can benefit from cutting-edge solutions that deliver tangible benefits to customers!
10. Social selling continues to rise
In addition to the many changes in algorithms in recent years, social media platforms now offer a digital marketplace for your favorite brands. This is how social selling was born, emphasizing higher conversion rates and new advertising strategies.
Social platforms like Facebook, Instagram, or even LinkedIn can direct you to a company where you can buy a product .
People are using social media as a research tool to see if what they want to buy online matches their needs.
Also, social media platforms make it easy for people to place orders on digital stores. Companies can set up their social selling profiles to include instant purchases , integration with PayPal, and more convenient types of user retention.
By 2023, the affiliate marketing landscape should embrace social selling to reach new global audiences, build relationships with prospects, and even share user-generated content for credibility. Social selling is one of the biggest trends for affiliate marketers in 2023.
Social selling can be an interesting niche because it provides an engaging online shopping experience with diverse product placements, real-life reviews, and more! This aspect can be an excellent way to connect with customers.
11. Did someone say crypto affiliate marketing?
Yes, the status quo in the cryptocurrency market could be better. However, now might be the perfect time to start building a crypto affiliate marketing program to get ahead of the competition!
Influencer content creation and audience matching can help you develop your affiliate strategy.
Crypto and blockchain technology have boomed over the past few years, and many companies now offer crypto payments as an option for customers. Notably, crypto affiliate marketing programs allow marketers to earn a commission when promoting cryptocurrencies.
This is a diverse marketplace that offers different methods of affiliate marketing, including referral programs, bonuses for attracting more investors, and more.
Moreover, you can learn more about bear markets and tokens while learning about more exciting topics!
Also, you can promote exchanges, wallets, mining tools and anything crypto-related. There are still many cryptocurrency investors and enthusiasts looking for new cryptocurrency affiliate programs. Here's why it's still possible to start crypto affiliate marketing!
12. Emphasize Social Proof
As people become what the internet considers " always online ," many consumers refer to others when making purchase decisions and making informed decisions. You may need to employ contextual targeting to improve your customer journey.
This phenomenon is called social proof , and it allows people to evaluate the behavior of others and determine their behavior. It includes reviews and ratings to build trust and credibility with customers.
Affiliate marketers can benefit from social proof to help potential customers make a purchase .
If your product or service has a high rating, people will trust your company and buy from you.
What other people do is a powerful motivator for today's generation, and affiliate marketers should do everything in their power to use social proof to attract more customers, increase brand awareness , and build a solid reputation for their business.
Time to refine your strategy
As the world changes, affiliate marketing should keep up with digital marketing trends, data usage, and even virtual worlds like the Metaverse. Nonetheless, affiliate marketers can take advantage of the changes introduced to attract more clients !
For example, customer privacy regulations introduced cookie preferences, but there are other tracking methods, namely cross-device tracking, that allow better monitoring of consumer behavior. Cookieless advertising will affect affiliate networks, but it's not the end of the world.
Basic marketing techniques like coupons, which have been around since the 1880s, can also update your affiliate marketing strategy and help you stay on top! With creativity, you can launch digital coupons and get more sales.
With technology advancing rapidly, affiliate marketers can improve their SEO knowledge and learn more about the SaaS world. Many experts claim that high ROI is the future of e-commerce . Also, research influencer marketing as this is going to be a trend.
It’s worth noting that it helps if you navigate a wealth of information to successfully implement your new affiliate marketing strategy.
Trends come and go , but it's crucial to have a solid plan for what you want to achieve.
Introduce one or more angles to your affiliate marketing strategy and stay ahead of the competition in 2023!