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Affiliate Marketing Now Key Tool for Brands in 2024

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Anticipating a 4% growth in media spending this year, mirroring the trend from 2023, the market is set to be driven by online, TV, and out-of-home media. This predicted growth is attributed to political stability and economic stimulus initiatives introduced by the government.

The burgeoning e-commerce platform landscape has catapulted affiliate marketing into a key media tool for brands. This trend is particularly visible amid the rising competition between key players Lazada, Shopee, and TikTok, according to Pawat Ruangdejworachai, the President and Chief Executive of Media Intelligence Group (MI).

“Marketing technology and data-driven marketing will likely shrink advertising in traditional media to 20% in the next few years, while online is projected to comprise half of total spending by 2025.

Thailand’s media spending will continue to grow by 4% in 2024, close to the 2023 level, thanks to the rebounding economy, tourism and government assistance measure.”

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Potential hurdles in this path include high household debt, mounting living expenses, and the pressure on small and medium-sized enterprises.

MI forecasts that the overall media spending will reach 88 billion baht (US$2.4 billion) in 2024, marking a 4% growth from 84.5 billion baht (US$2.3 billion) in 2023. This follows a four-year consecutive increase after the dramatic drop in 2020.

Digital platforms continue to hold the majority share, accounting for 45% of total spending. Traditional media such as TV, newspapers, radio, and theatre account for 35%, with out-of-home and transit media making up the remaining 20%.

In comparison, in 2023, traditional media constituted 50% of the total, digital platforms claimed 35%, with out-of-home and transit media taking up the remaining 15%, reported Bangkok Post.

The sectors with the highest spending include personal care and beauty at 15 billion baht (US$419 million), followed by health and wellness (5.3 billion baht or US$148 million), automotive (3.6 billion or US$100.68 million), travel and leisure (2.7 billion baht or US$75 million), finance and credit cards (2 billion baht or US$55.9 million), and pet food and care (451 million baht or US$12.6 million).

“These expenditures reflected consumer behaviour leaning towards trends such as personal health and electric vehicles, with the increase of ‘buy now, pay later’ becoming more pronounced in advertising this year.”

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Over the past two to three years, TikTok has established itself as a formidable social and e-commerce platform, rivalling Shopee and Lazada. Collectively, they are referred to as the ‘Three Musketeers’ of online shopping.

The digital landscape is becoming increasingly diverse, with no single platform attracting all user groups. Consumer sentiment is prone to change, influenced by socioeconomic divisions, resulting in stark spending preferences for either premium or budget-friendly brands.

Furthermore, Pawat highlighted the potential of affiliate marketing driven by the synergy of popular social media and marketplaces. Affiliate marketing is a model where affiliates earn a commission for every visit, sign-up, or sale they generate for a merchant.

MI predicts that the worth of Thai marketing utilising key opinion leaders will be around 5 billion baht (US$139.8 million) this year.

In related news, Thailand’s e-commerce landscape thrived in the past year, with foreign operators leading. Live commerce and affiliate marketing surged, shaping the competitive market.

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Set Your Team up for Success and Let Them Browse the Internet Faster

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Set Your Team up for Success and Let Them Browse the Internet Faster

Disclosure: Our goal is to feature products and services that we think you’ll find interesting and useful. If you purchase them, Entrepreneur may get a small share of the revenue from the sale from our commerce partners.

According to TeamStage, 31 percent of employees waste about a half hour each day, and the top 10 percent of them can waste as much as three hours in a day. Part of that might be attitude, but the other part might be hangups caused by internet speed and advertisements. To nip that lost time in the bud, consider equipping yourself or your team with a tool to help stay on task.

From April 15 through 21, this five-year subscription to Control D Some Control Plan is on sale for just $34.97 (reg. $120). This is the best price for this deal online. This tool is designed to help users browse and use the internet faster while also blocking ads.

Control D is described as a “one-touch solution” for taking control over the productivity of your computer and internet usage. The deal supports use for up to ten devices, and it empowers each user to block advertisements, enjoy faster browsing, and set internet safety rules and restrictions for kids.

Control D’s bandwidth is substantial. It can accommodate up to 10,000 custom rules, block more than 300 servers, support multiple profiles, and unlimited usage. This robust and well-designed tool is a reliable option for any business leader who wants to liberate themselves or team members from distractions online.

Control D is rated a perfect 5/5 stars on Product Hunt.

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Remember that from April 15 through 21, this 5-year subscription to Control D Some Control Plan is on sale for just $34.97 (reg. $120)—the best price on the web.

StackSocial prices subject to change.

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Grab Microsoft Project Professional 2021 for $20 During This Flash Sale

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Grab Microsoft Project Professional 2021 for $20 During This Flash Sale

Disclosure: Our goal is to feature products and services that we think you’ll find interesting and useful. If you purchase them, Entrepreneur may get a small share of the revenue from the sale from our commerce partners.

If you’re in charge of a business and you don’t have a clear understanding of how to approach projects in an organized and effective manner, that’s a problem. Like many leaders before you, consider leaning on software that’s designed to streamline the project workflow for companies representing a wide range of industries.

A rate that will only be available from April 19 through 22, you can get Microsoft Professional 2021 for just $19.97 (reg. $249).

This well-reviewed software comes with a range of pre-built templates that you can use to set your project off on the right foot. It supports a number of helpful functions like building complex schedules with varying timelines, auto-populating those schedules in instances where it can, and submitting timesheets that can be distinguished by project work and non-project work.

Some additional features of Microsoft Project Professional that can help entrepreneurs and their teams include what-if scenario generation capabilities. Microsoft Project Professional also allows you to sync projects on your local server with those online, which is massively helpful for remote teams.

Its comprehensive and well-curated offerings are part of why Project Professional is rated an average of 4.7/5 stars on the Entrepreneur Store.

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Don’t miss this limited-time opportunity to make a worthwhile investment in your business for the price of a beer at the ball game.

A price that will only last from April 19 through 22, you can get Microsoft Professional 2021 for just $19.97 (reg. $249).

StackSocial prices subject to change.

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AI Will Transform the Workplace. Here’s How HR Can Prepare for It.

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AI Will Transform the Workplace. Here's How HR Can Prepare for It.

Opinions expressed by Entrepreneur contributors are their own.

Our workplaces are about to undergo an unprecedented level of transformation, and HR will take center stage. Artificial intelligence will dramatically reshape HR in a way that goes beyond recruiting, hiring and talent management. Leadership teams at all levels need to embrace this change to transform and lead their organizations forward.

It’s the people, and not the technology, that makes AI initiatives a success. Intrapreneurs, in particular, are the driving force behind it. As I shared in Fearless Innovation, I noticed this when I was working on the innovation agenda for the Great Places to Work study — the most innovative companies were those that had a leadership team that was embracing intrapreneurship and were open to change.

HR is the beating heart of any organization, and as such, it needs to take center stage in both adopting and leading ethical and innovative AI transformation across the organization.

Related: How Artificial Intelligence Is Reinventing Human Resources

4 tectonic shifts AI will drive in HR

1. A new wave of massive reskilling

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As AI becomes more prominent across business functions, the need for new skills will only grow. Forty percent of enterprise leaders believe that their workforce would need to reskill as a result of AI and machine learning. In fact, research shows almost a third of all hours worked in the U.S. could be automated by 2030.

All of us need to reskill to some extent to be relevant in the AI era. Not only would people need to re-train, but generative AI is introducing a whole host of professions that have been non-existent until recently, from AI ethicists to human-AI interaction designers. Some of these roles might sound futuristic, yet they are becoming increasingly relevant as technology advances.

2. The great restructure

As automation takes center stage across more business functions, there will be the inevitable need for organizations to restructure and rethink how they work. This transition will not only involve the integration of new technologies but also introduce a shift in the workforce dynamics. Intrapreneurs will need to identify gaps both in skills and operational processes and forge brand-new roles for themselves and those they manage. HR must play a key role in enabling a smooth and easy transition in this regard. The transition will not be smooth or easy, and it’s only HR that has the capability to make it impactful.

3. Arrival of “digital humans”

“Digital human” may sound like an oxymoron, but that’s the term that’s starting to appear in business and operational plans. More roles, regardless of industry, are becoming digitally enhanced where some form of AI assistance is embedded in their everyday work. A real-life example is the introduction of the digital nurse — AI-powered healthcare agents which have already been proven to outperform human nurses in certain tasks.

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Imagine the impact these digital roles will have on the workforce the more sophisticated and prevalent they become. Eventually, HR will need to create policies and systems in place that account for this new type of “staff augmentation.”

4. Regulating the robot

The threat of AI bias and misuse is serious. Not only can the technology put many jobs at peril, but potential improper implementation can expose organizations to serious liability and negatively affect the workforce. From avoiding bias to inclusivity, HR teams play a critical role in the ethical deployment and management of AI technologies.

HR professionals will be tasked with navigating the delicate balance between leveraging AI for efficiency and ensuring that its application upholds fairness, privacy and non-discrimination.

Related: How to Successfully Implement AI into Your Business — Overcoming Challenges and Building a Future-Ready Team

What HR intrapreneurs must do to embrace AI the right way

The future of work is being shaped by AI adoption, and its success hinges on the right approach from the outset. My experience shows that for successful organizations, one universal trait stands out: the presence of change agents. Every organization, regardless of size, benefits from intrapreneurs who are open to change and committed to spearheading transformation efforts. These intrapreneurs are pivotal in driving the future of work, as they help orchestrate the integration of new technologies into their business models.

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HR and talent leaders should harness this dynamic, encouraging a symbiotic relationship with intrapreneurs to develop customized solutions for AI adoption, ensuring that they are not just keeping pace with technological advances but are actively shaping their trajectory.

Securing a seat at the table:

HR should take a proactive stance in the adoption of AI, even if it is still in its early stages within your organization. By securing a position at the forefront of the AI initiative, HR can and should facilitate and guide the entire organization in embracing this significant change.

As AI has the potential to impact every facet of the organization, it is imperative for HR to not only understand and advocate for this technology but also lead its integration across all departments. HR should encourage and support intrapreneurs and all employees to leverage AI in their daily tasks, demonstrating its value not just for operational efficiency but for personal and professional growth as well.

Master the technology:

To effectively navigate and regulate AI, HR must first understand it thoroughly. Grasping the full potential of this technology is crucial for reaping its extensive benefits. HR plays a vital role in identifying the necessary tools and skills that employees must acquire and then integrating these learnings into daily work practices.

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Before implementing AI more broadly, HR should initiate comprehensive training programs that not only educate but also reassure employees about AI’s role in the future of the business. By leading these educational initiatives, HR can shape the structure and effectiveness of these programs, ensuring they meet the needs of the organization and its workforce.

Related: 3 Ways to Prepare Your Business For an AI Future

Looking ahead

Generative AI has the transformative potential to redefine the business landscape, but realizing this vast potential hinges on more than just the adoption of technology. It critically depends on the talent within the workforce, driven by HR and bold intrapreneurs. These visionary leaders don’t just implement new tools; they exemplify their use, demonstrating the profound impact of AI across every level of the organization.

HR plays a pivotal role in fostering this environment, enabling intrapreneurs to guide and inspire every individual they touch. Together, they turn each employee into a catalyst for change, igniting a widespread passion for innovation that deeply resonates and sustains long-term success.

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