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Affiliate marketing: Top 7 must-know trends for 2024

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Affiliate marketing: Top 7 must-know trends for 2024

In 2024, affiliate marketing will see brand-creator alliances rise, TikTok vs. Amazon competition, programmatic opportunities, and more, says Awin’s global head of content, Rob Davinson.

Affiliate marketing mirrors the broader digital landscape, with trends at the macro level resonating in our microcosm. In 2024, we’ll see emergent trends (artificial intelligence (AI), social commerce and retail media to name just a few) that will impact affiliate marketers.

Here we breakdown the key changes (and challenges) that affiliate marketing is likely to encounter this year, and what they mean for the industry.

1. Brand-creator affiliation will rise amidst social media slowdown

With global digital ad spend growth slowing (Dentsu predicts only 6.5% growth in 2024, after a historically low-growth year in 2023), and social media facing a similar slowdown as new user growth plateaus, brands can combat this by directly partnering with creators, as influencer marketing proves more resilient than paid social.

Major brands like The Body Shop and Walmart are two examples that launched large-scale creator affiliate programs in the last year, tying social awareness to controlled marketing outcomes. We see this trend further developing in 2024, as it not only counters platform-dependent risks, but benefits influencers seeking stable incomes,

Awin’s platform witnessed a surge of registering influencers in 2023 (over 10,000), foreshadowing continued growth in 2024.

2. TikTok vs. Amazon: Affiliate model’s value amid new competition

As major tech giants mature, Amazon transitions from a shopping marketplace to an ad space, while TikTok evolves from entertainment to a product purchasing platform. This encroachment on each other’s territory is likely to intensify competition, with TikTok employing an affiliate-type model, mirroring Amazon’s commerce flywheel.

Both platforms embracing affiliate strategies validates its efficacy. Brands may channel more ad budgets into these tech giants, necessitating a choice between entering new marketplaces or driving traffic to their e-commerce sites.

Opting for the latter requires enhancing the shopper experience, supported by affiliate tech partners, as exemplified by Nike’s livestream shopping collaboration with Contester, enhancing the Cyber period with engaging content on their site.

3. Programmatic challenges will propel affiliate ad spend growth

In 2023, the programmatic ad industry faced serious challenges, as reported in the ANA’s Programmatic Media Supply Chain Transparency Study. Among its findings was the fact that there is $22bn of wastage from the $88bn programmatic supply chain.

Advertisers often grapple with misaligned incentives, prioritizing cost over value, resulting in diminished ad quality. In contrast, affiliate marketing’s performance model, linking ad spend to tangible outcomes like sales, proves more valuable.

It says a lot that global spend in affiliate marketing last year is estimated to be around $14bn, a third less than was wasted in programmatic. As senior marketers consider their budgets this year, the data suggests affiliate marketing should garner greater consideration for its effectiveness.

4. News and media publishers will leverage affiliate commerce content

In 2024, with a record number of global elections, including the US presidential election and 40 national elections, political interest will drive traffic to news media sites.

Despite heightened ad spend forecasts, news publishers may not see increased income due to past challenges with programmatic display ads. Affiliate channels offer a solution for publishers facing declining ad monetization and brand blocklisting.

Additionally, major sporting events like the European Football Championships and the Olympic Games in Paris promise increased traffic, creating opportunities for affiliate efforts to offset ad revenue challenges and enhance the value of journalism amid growing demand.

5. AI revolution in search will pose a threat to affiliate longtail

When it comes to online, the significance of high Google search rankings has been paramount. As the old adage (meme caption) goes: “The best place to hide a dead body is page 2 of Google’s search results.”

Google’s search console, shaping our online information-seeking behavior for two decades, faces challenges from Google’s monetization motives and emerging AI-powered search consoles, like ChatGPT. These AI consoles provide instant answers, diminishing the reliance on external links and altering the traditional internet ecosystem.

Google’s Search Generative Experience (SGE) introduces AI-generated responses, potentially reducing organic traffic to publisher websites. Publishers face limited options – allow crawling for SGE or risk exclusion from Google search. SEO adherence to E-E-A-T values becomes crucial for publishers navigating this transformative shift, emphasizing the affiliate industry’s need to adapt and maintain audience-centric effectiveness.

6. Travel resurgence will inspire pop culture-inspired trips and affiliate growth

While some predicted its near-extinction after the 2019 lockdown, the travel industry is booming as we begin 2024.

IATA predicts that this year will exceed 2019’s travel record, with 4.7 billion people expected to board airlines in 2024. Awin observes a surge in affiliate-driven travel bookings, a trend set to continue as consumer confidence rises, airline capacity grows, and major events drive demand.

Expedia and Amadeus foresee a significant year for experience-based tourism (think set-jetting and music festivals). Affiliates play a crucial role in the complex shopper journey, offering inspiration, comparisons, and personalized options.

Brand partnerships, where one advertiser promotes another complementary one as part of the customer’ booking experience, thrived in 2023. Travel brands are well set to capitalise on this growth with lots of potential match-ups from other brands keen to tap into consumers’ resurgent appetite for travel.

7. As cheap fashion challenges sustainability efforts, green affiliates will emerge

Despite Cop28’s pivotal agreement to shift from fossil fuels, inertia persists around climate change. In 2024, the rise of ultra-fast fashion platforms like Shein and Temu, fueled by the TikTok trend of buying cheap dupes, contributes to growing landfill fashion.

Even impacting Amazon, Teemu users spend nearly double the time compared to Amazon, prompting the e-commerce giant to lower fees for clothes under $20. However, some affiliates continue to promote mindful consumer choices innovatively. Examples include Refoorest, planting trees for site visits, and Axon Mobile incentivizing eco-friendly commuting. And another new promising solution for 2024 is spearheaded by Birl, who are introducing the circular economy to e-commerce through their smart resale system.

Visit Awin to discover more market insights and trends.

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AFFILIATE MARKETING

Carnival Cruise Line Installs Starlink Internet on Every Ship

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Carnival Cruise Line Installs Starlink Internet on Every Ship

It’s another massive milestone for SpaceX CEO Elon Musk.

On Tuesday, Carnival Cruises announced that 100% of its ships have officially installed high-speed internet from Musk’s Starlink.

The installation took place on 90-plus ships in Carnival’s global fleet and allows for more reliable Wi-Fi when onboard (especially during remote parts of the route) for passengers and helps the ship’s staff with improving “operational and communications capabilities,” per a release from Carnival.

Related: New Jersey Man Accused of Trafficking 675 Starlink Terminals

“Starlink has been a game-changer for the onboard connectivity experience our cruise lines deliver to their guests, and we’ve already seen a surge in guest satisfaction and positive feedback from the super-fast and reliable Wi-Fi service we provide onboard,” said Josh Weinstein, CEO of Carnival Corporation in a release. “We see this technology as a win-win-win – it provides our guests with more flexibility to stay as connected as they’d like on vacation, it allows our crew to stay in touch with friends and loved ones, and it enhances our onboard operational systems.”

The installment of Starlink on Carnival ships began in December 2022 and has now expanded to all of Carnival’s smaller companies, including Princess Cruises and Holland America Line.

Musk reposted the news with one word to share his sentiments: “Cool.”

Royal Caribbean started installing Starlink on its ships in 2022 and as of February 2024, said that it was “currently in the process of upgrading more vessels” from VOOM internet to Starlink.

Carnival is coming off a strong Q1 2024, setting the record for first-quarter revenue at $5.4 billion, while bookings hit a record high — despite higher prices.

“This has been a fantastic start to the year. We delivered another strong quarter that outperformed guidance on every measure, while concluding a monumental wave season that achieved all-time high booking volumes at considerably higher prices,” Weinstein said at the time. “These results are a continuation of the strong demand we have been generating across our brands and all core deployments, leading to an upward revision of full year expectations by more than a point of incremental yield improvement and setting us up nicely to deliver a nearly double-digit improvement in net yields.”

Carnival was up nearly 41% year over year as of Tuesday afternoon.



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12 Proven Methods to Make Money Blogging in 2024

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Make money blogging

 

Make money bloggingThis is a contributed article.

The world of blogging continues to thrive in 2024, offering a compelling avenue for creative minds to share their knowledge, build an audience, and even turn their passion into profit. Whether you’re a seasoned blogger or just starting, there are numerous effective strategies to monetize your blog and achieve financial success. Here, we delve into 12 proven methods to make money blogging in 2024:

1. Embrace Niche Expertise:

Standing out in the vast blogosphere requires focus. Carving a niche allows you to cater to a specific audience with targeted content. This not only builds a loyal following but also positions you as an authority in your chosen field. Whether it’s gardening techniques, travel hacking tips, or the intricacies of cryptocurrency, delve deep into a subject you’re passionate and knowledgeable about. Targeted audiences are more receptive to monetization efforts, making them ideal for success.

2. Content is King (and Queen):

High-quality content remains the cornerstone of any successful blog. In 2024, readers crave informative, engaging, and well-written content that solves their problems, answers their questions, or entertains them. Invest time in crafting valuable blog posts, articles, or videos that resonate with your target audience.

  • Focus on evergreen content: Create content that remains relevant for a long time, attracting consistent traffic and boosting your earning potential.
  • Incorporate multimedia: Spice up your content with captivating images, infographics, or even videos to enhance reader engagement and improve SEO.
  • Maintain consistency: Develop a regular publishing schedule to build anticipation and keep your audience coming back for more.

3. The Power of SEO:

Search Engine Optimization (SEO) ensures your blog ranks high in search engine results for relevant keywords. This increases organic traffic, the lifeblood of any monetization strategy.

  • Keyword research: Use keyword research tools to identify terms your target audience searches for. Strategically incorporate these keywords into your content naturally.
  • Technical SEO: Optimize your blog’s loading speed, mobile responsiveness, and overall technical aspects to improve search engine ranking.
  • Backlink building: Encourage other websites to link back to your content, boosting your blog’s authority in the eyes of search engines.

4. Monetization Magic: Affiliate Marketing

Affiliate marketing allows you to earn commissions by promoting other companies’ products or services. When a reader clicks on your affiliate link and makes a purchase, you get a commission.

  • Choose relevant affiliates: Promote products or services that align with your niche and resonate with your audience.
  • Transparency is key: Disclose your affiliate relationships clearly to your readers and build trust.
  • Integrate strategically: Don’t just bombard readers with links. Weave affiliate promotions naturally into your content, highlighting the value proposition.

5. Display Advertising: A Classic Approach

Display advertising involves placing banner ads, text ads, or other visual elements on your blog. When a reader clicks on an ad, you earn revenue.

  • Choose reputable ad networks: Partner with established ad networks that offer competitive rates and relevant ads for your audience.
  • Strategic ad placement: Place ads thoughtfully, avoiding an overwhelming experience for readers.
  • Track your performance: Monitor ad clicks and conversions to measure the effectiveness of your ad placements and optimize for better results.

6. Offer Premium Content:

Providing exclusive, in-depth content behind a paywall can generate additional income. This could be premium blog posts, ebooks, online courses, or webinars.

  • Deliver exceptional value: Ensure your premium content offers significant value that justifies the price tag.
  • Multiple pricing options: Consider offering tiered subscription plans to cater to different audience needs and budgets.
  • Promote effectively: Highlight the benefits of your premium content and encourage readers to subscribe.

7. Coaching and Consulting:

Leverage your expertise by offering coaching or consulting services related to your niche. Readers who find your content valuable may be interested in personalized guidance.

  • Position yourself as an expert: Showcase your qualifications, experience, and client testimonials to build trust and establish your credibility.
  • Offer free consultations: Provide a limited free consultation to potential clients, allowing them to experience your expertise firsthand.
  • Develop clear packages: Outline different coaching or consulting packages with varying time commitments and pricing structures.

8. The Power of Community: Online Events and Webinars

Host online events or webinars related to your niche. These events offer valuable content while also providing an opportunity to promote other monetization avenues.

  • Interactive and engaging: Structure your online events to be interactive with polls, Q&A sessions, or live chats. Click here to learn more about image marketing with Q&A sessions and live chats.

9. Embrace the Power of Email Marketing:

Building an email list allows you to foster stronger relationships with your audience and promote your content and offerings directly.

  • Offer valuable incentives: Encourage readers to subscribe by offering exclusive content, discounts, or early access to new products.
  • Segmentation is key: Segment your email list based on reader interests to send targeted campaigns that resonate more effectively.
  • Regular communication: Maintain consistent communication with your subscribers through engaging newsletters or updates.

10. Sell Your Own Products:

Take your expertise to the next level by creating and selling your own products. This could be physical merchandise, digital downloads, or even printables related to your niche.

  • Identify audience needs: Develop products that address the specific needs and desires of your target audience.
  • High-quality offerings: Invest in creating high-quality products that offer exceptional value and user experience.
  • Utilize multiple platforms: Sell your products through your blog, online marketplaces, or even social media platforms.

11. Sponsorships and Brand Collaborations:

Partner with brands or businesses relevant to your niche for sponsored content or collaborations. This can be a lucrative way to leverage your audience and generate income.

  • Maintain editorial control: While working with sponsors, ensure you retain editorial control to maintain your blog’s authenticity and audience trust.
  • Disclosures are essential: Clearly disclose sponsored content to readers, upholding transparency and ethical practices.
  • Align with your niche: Partner with brands that complement your content and resonate with your audience.

12. Freelancing and Paid Writing Opportunities:

Your blog can serve as a springboard for freelance writing opportunities. Showcase your writing skills and expertise through your blog content, attracting potential clients.

  • Target relevant publications: Identify online publications, websites, or magazines related to your niche and pitch your writing services.
  • High-quality samples: Include high-quality blog posts from your site as writing samples when pitching to potential clients.
  • Develop strong writing skills: Continuously hone your writing skills and stay updated on current trends in your niche to deliver exceptional work.

Conclusion:

Building a successful blog that generates income requires dedication, strategic planning, and high-quality content. In today’s digital age, there are numerous opportunities to make money online through blogging. By utilizing a combination of methods such as affiliate marketing, sponsored content, and selling digital products or services, you can leverage your blog’s potential and achieve financial success.

Remember, consistency in posting, engaging with your audience, and staying adaptable to trends are key to thriving in the ever-evolving blogosphere. Embrace new strategies, refine your approaches, and always keep your readers at the forefront of your content creation journey. With dedication and the right approach, your blog has the potential to become a valuable source of income and a platform for sharing your knowledge and passion with the world, making money online while doing what you love.

Image Credit: DepositPhotos



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AFFILIATE MARKETING

This Toxic Money Habit Could Derail Your Financial Planning

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This Toxic Money Habit Could Derail Your Financial Planning

Many Americans believe social media offers an inaccurate picture of wealth and success; 57% of social media users say that people post to appear more successful, and 51% of users say that social media depicts “unrealistic lifestyles,” according to a 2023 Bankrate survey.

Even so, many of them can’t help but get caught up in the cycle of comparison. Between 2022 and 2023, U.S. adults spent $71 billion on “impulse buys” they were influenced to make by social media, per Bankrate’s data — a fact that backs up an increase in “money dysmorphia.”

Related: These 5 Money Secrets Can Turn Healthy Relationships Toxic, Financial Therapist Warns

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