As we step into 2024, the affiliate marketing industry is witnessing dynamic shifts and emerging trends that demand the attention of marketers and advertisers. In a recent chat with our Head of Affiliates, Rick Haasnoot, we gained some honest insights into the trajectory of the affiliate marketing landscape for the coming year. From innovative strategies to unexpected developments and challenges, let’s delve into the key takeaways that could shape the industry in 2024.
AI Integration is Key
In 2023, ‘AI’ was named the word of the year by Collins, and it’s not surprising that its influence extends into our insights and trends for 2024. Regardless of the specific year, industry vertical, or traffic source, staying ahead of the competition in media buying, crafting compelling copy, and conducting split tests on various verticals, offers, and flows remains fundamental for successful affiliates.
Rick believes the affiliates who will see the most significant success in 2024 are those who effectively leverage AI to enhance and optimize their processes related to these tasks. Rick suggests that maximising EPC remains the key, and AI can play a pivotal role in achieving this goal. Don’t get left behind by not exploring the many AI tools made for affiliates, check out our blog for the 7 AI best tools for affiliates.
A Shift in Traffic Sources
Historically, banners have been a major traffic source for Dating. However, in the last two to three years, there has been a significant increase in traffic from Google, including both Ads and SEO.
In the past year or so, there’s been a noticeable shift, with people now using Meta (previously reserved for high CPA verticals like Casino) to promote dating. This suggests that traditional banner traffic sources are becoming more saturated and competitive. Rick anticipates this trend of diversifying traffic sources to continue growing throughout 2024.
Meta’s Bounce Back
So, what are the advantages of using Meta for Dating promotions? High conversion rates (ads are easy to optimise), huge amount of targeting options (e.g., 45+ males) and high payout rates. A few interesting examples Rick gave of strategies affiliates use for advertising Dating on Meta and in those cases, Ads Manager and an optimisation Pixel can be used. Feel free to reach out directly to him if you want to find out a little more about it.
These unconventional approaches highlights the industry’s adaptability to leverage new platforms and GEOs for marketing, even in sectors like Dating.
Growth Areas & Challenges
Rick openly discussed some areas that may challenge affiliates in the coming year including the changing landscape of email and SMS marketing. Historically, both email marketing and SMS have been a cornerstone in the affiliate marketing arsenal. However, the landscape is evolving, and email marketers are facing hurdles as filters and routes become more stringent. Inbox deliverability is posing challenges, as Google’s Gmail doubles down on its spam filters making it harder to achieve the same level of reach and engagement as before.
Adapting Payout Terms for Quality Leads
Rick anticipates a shift in the approach of advertisers, moving from a focus on quantity to prioritizing quality. This change is driven by two main factors:
1. The rising costs of traffic make it likely that affiliates will seek to cut costs, potentially compromising on quality to improve their return on investment (ROI).
2. The increasing expenses and challenges associated with maintaining a specific infrastructure for advertisers mean that leads must yield meaningful results.
As a result, advertisers are expected to become more selective in their choices. In saying that these adjusted payout terms based on specific criteria will lead to higher rewards for affiliates who deliver high-quality leads that meet the standards. This strategy aims to ensure that affiliates focusing on quality leads are appropriately compensated for their efforts.
What Can You Expect From Advidi
Advidi is also gearing up for internal innovations in both team structure, BI and Pricing strategies. By trialing this new approach we should be able to help affiliates build towards higher volume and payouts than ever before by giving them deep insights into the behavior and value of their current traffic and sources.
Advidi’s 2024 strategy focuses on growth, which can be seen through some exciting changes in the organizations teams to be centered around specific verticals. This move isn’t just for show; it’s about boosting efficiency, improving communication, and empowering our teams to reach their full potential. It’s a strategic move to drive growth and make waves in the industry. Oh, and rest assured we won’t be letting the AI movement pass us by. More updates on that soon.
Let’s go 2024
As we step into 2024, the affiliate marketing industry is poised for innovation and adaptation. Advertisers and affiliates must stay ahead of emerging trends, leverage AI technologies, and refine strategies to meet the evolving demands of the market. We hope these extra insights offer a glimpse into the landscape that awaits in the coming year. Embracing change, staying informed, and leveraging cutting-edge technologies will be key to thriving in the industry in 2024.