Affiliate marketing is often misconceived as a realm of discounts and lower-tier brands, a perception that fails to do justice to its immense global scale and versatility. Consider the case of Japan, where well-entrenched sub-affiliate networks are set to propel the market value of affiliate marketing to an estimated $5bn by 2023.
China, boasting the world’s largest internet user base, lays claim to over 40% of the global affiliate marketing industry. Meanwhile, Australia is emerging as a cradle for ground-breaking publisher innovations, rivalling the likes of the UK and the US.
Debunking Misperceptions
A fundamental misconception is the belief that affiliate marketing is merely a tactic focused on conversion. Conversion is undeniably important, and many advertisers engage in affiliate marketing primarily for this reason. Yet, this approach overlooks immense untapped potential.
We at Affiliate Choice recognise that affiliate marketing has evolved from being a mere tactic to an overarching strategy. In traditional advertising, while the tactic could be running a print advertisement, the strategy involves a multifaceted approach that influences the audience through various channels.
Similarly, a robust affiliate marketing strategy blends multiple models—ranging from content, comparison, cashback, to coupons—to attain commercial objectives throughout the sales funnel. Modern affiliate marketing can aid in acquiring new customers, introducing new products, and strategically positioning brands.
Full-Funnel Vision
The consumer journey is a multi-step process, and modern affiliate marketing can have a role in every stage. Affiliate marketing that’s aligned to last-click conversion simplifies attribution and commission payment but overlooks the intricacies of the sales funnel. Advances in attribution and in-app tracking have facilitated multi-touch commissioning and added layers of sophistication to affiliate marketing.
Leveraging Data
The Asia-Pacific region presents a diverse and lucrative landscape for advertisers. With over half of the world’s internet users and a recent surge in online shopping, it’s imperative for companies to thoroughly understand this complex market. Data-driven decision-making is critical; it guides strategy, informs development and measures performance.
Changing Perceptions Internally
Aligning affiliate marketing strategy and KPIs with broader business goals can transform internal perceptions about its value. This change isn’t just beneficial for the organisation; it can also help career growth for those in the affiliate marketing field.
While the APAC region has been slower in adopting affiliate marketing compared to the US and Europe, the tide is turning. Affiliate marketing’s inherent ability to transform unknown consumers into loyal customers makes it a force to reckon with.
The Future is Here
For those involved in affiliate marketing, there is a vested interest in bringing our broader marketing counterparts up to speed with the sector’s dynamic capabilities.
It’s time to shed the outdated perceptions and embrace affiliate marketing for what it truly is—a strategic tool capable of delivering unparalleled results.
