2024 is here; as usual, there are some changes every year, which will be the same; in the affiliate marketing area, I predict a few changes, and here are my affiliate marketing predictions for 2024.
Affiliate Marketing Predictions For 2024
Changes are inevitable; as a marketer, you need to adapt. If not, you will perish; here are my affiliate marketing predictions for 2024 so that you can prepare yourself.
Increasing affiliate marketing spending
According to one study, affiliate marketing spending is expected to reach $15.7 billion globally in 2024. This is huge, and there is a big pie for you and me to make a living online.
The problem is that most people who start an affiliate marketing business in 2024 will only quit if they make a single dollar, but those who keep doing the right things will keep making bank in 2024.
AI is evolving
Artificial Intelligence (AI) is here to stay. My prediction for 2024 is that it will be even more brilliant than 2023. ChatGPT is getting better at creating more accurate information.
Many tools will be so powerful that it will be difficult to distinguish if humans or AI made the content when they create images or videos.
In particular, AI-powered tools will better understand complex search queries and target relevant ads. At the same time, brands will use machine learning to train their GPTs.
I recommend adapting and learning how to use these AI tools to create better affiliate promotional materials.
Micro and nano influencers will shine.
Some economists predict a recession in 2024, forcing big brands to reduce costs, including advertising budgets.
Brands on a budget will seek out micro–influencers and nano–influencers to work with on an affiliate basis to maximize their return on investment.
If you have a small social media page, it is time to double down on it, keep posting content, and grow your page, and brands will start looking for you for collaboration.
More video content
They say a picture is worth 1000 words, and a video is worth 1000 pictures, but people still consume video content, especially in short form.
This is the reason that every social media platform accepts videos. Creating short videos and posting them on platforms like X, TikTok, Instagram, Facebook, etc, will increase interactions and hence increase your conversion.
My recommendation is to combine short content and long content videos, use short videos that go straight to the point to get exposure to as many people as possible, and from short videos, send people to affiliate products or long-term videos or written content.
Optimizing for voice search
People want to multitask, and they want to listen to something and do their normal chores like cooking, cleaning, or working out.
This is why Voice search is becoming popular, as people are more comfortable using it. You need to create an audio version of your content to increase the exposure of your pages and sites.
A move toward virtual shopping.
Virtual shopping is a digital service where customers can browse and shop for products online as they would in a brick-and-mortar retail store.
The result is a true omnichannel experience that seamlessly merges online and brick-and-mortar.
As the industry faces unprecedented changes, certain technologies have emerged as powerful tools to help brands deliver the in-store experience online.
Comarketing between affiliates and brands.
I have seen these trends in my email box. Many brands are contacting me, offering me chances to work directly with them as their ambassador. ( on my other sites in different niches).
Comarketing partnerships between affiliates and brands will start to gain popularity as the brands find it a cheap way to market their products, and affiliate marketers will make more money and get free stuff.
Influencer marketing will keep going up.
Many content creators are becoming influencers. Every day, there is another affiliate influencer.
It does not matter how you promote affiliate products ( using a blog, YouTube, social media, etc.); you must pick one or two social media and grow them until people recognize you on the streets when shopping.
More brands will have affiliate programs.
Another trend I noticed in 2024 is that many brands are starting affiliate programs.
Now, there is an affiliate program for almost every brand and product. Just Google the Brand+affiliate program, and you will find it.
Those are my affiliate marketing predictions for 2024. If you already have an affiliate business, keep it up. If you do not have an affiliate business, you must start one. Let’s make 2024 our best year yet.