Ecommerce trends, the burgeoning creator economy, and marketing tech are invigorating affiliate promotion, boosting the effectiveness of an already powerful digital marketing channel.
Affiliate marketing is not new. It has been around since the earliest days of the commercial internet, as venerable as search engine optimization, digital advertising, and email marketing.
This does not, however, mean that affiliate marketing has stayed the same. It has changed and is changing greatly.
In the United States alone, spending on affiliate marketing has grown by 10% per year for about a decade. According to Statista, affiliate marketing will reach $8.2 billion in 2022, a 20% increase from 2020.
Many factors are driving that growth.
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Social Commerce
The term “social commerce” is vague in 2021.
For our purposes, social commerce is a subset of ecommerce. It involves the sharing and promotion of products on various platforms. This sharing employs text, images, and video, including live streams.
Sometimes it is communication between a business and a shopper, QVC or Amazon style. But more often, it is an influencer recommending a product in a post, a recording, or a live video.
Chinese ecommerce companies lead the world in social commerce. Integrating online sales, content, and sharing is now the norm in China. And the trend is breaking out globally.
“WeChat alone drove $250 billion in ecommerce in 2020. It is massive. And for social commerce, many people expect the market to grow at a...
Read Full Story: https://www.practicalecommerce.com/is-affiliate-marketing-the-next-big-thing
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