Marketing is an ever-evolving sector. It is a field that welcomes new ways and means of promotion and growth with open arms. Every business requires impeccable marketing tactics to be successful and maintain a steady flow of revenues. No wonder affiliate marketing got such an immense boost as soon as it’s onset. The profound triumph of this approach that created a win-win situation for both business owners and marketers has raised questions in the mind of many. Thus, to quench their queries, we are going to throw light on the idea of affiliate marketing, the journey through its development in India, and what the upcoming year holds for the same. But before straightaway diving into the details, let us understand what affiliate marketing is all about.
Understanding What Affiliate Marketing Is
When a retailer gains traffic, clicks or conversions with the help of a third party that earns a commission, this arrangement is known as affiliate marketing. By paying a fraction of the revenue to the marketer, businesses can skyrocket their sales. Plus, the marketer earns some amount in exchange for the deals made.
Development of Affiliate Marketing In India
Even though the concept of affiliate marketing faced tremendous development in the Nation in recent years, the growth of the witty marketing strategy is spectacular. If we take a look at the statistics, we can easily conclude that a majority of sales on a plethora of online retail stores takes place with the help of affiliate marketing.
One of the crucial reasons why it is emerging as a promising profession is the clear payment policy with no hidden costs whatsoever. For the marketer, it does not require any investment.
Some of the favourite e-commerce stores such as Flipkart, Snapdeal, and some coupon websites have flourished due to affiliate programs. If we scrutinise at a global level, Amazon is the leading platform with affiliate programs in various countries it has spread its dominance.
Over the course of time, most businesses have availed the benefits of in-house programs of affiliate marketing and reached unimaginable heights. Since there were no expenses involved in investments in the implementation of this strategy, it caught the entire country by storm as soon as it began. In fact, due to the enormous success rate, platforms like Zepo and Bewakoof have started their affiliate programs. They hire affiliate managers to track the revenue generated and sales made through the strategy and use third-party software for affiliate tracking.
Affiliate Marketing About Betting In India
If we shift our focus from e-commerce stores and expand our horizon, we can witness that affiliate marketing has broadly captured other areas as well. For instance, betting in India is a field that utilises affiliate marketing to its fullest. Affiliate programs involving lotteries, casino, sports betting, etc. has become a primary source of livelihood for most marketers at both a national and a global level. Moreover, the profits earned are significantly high such that they don’t have to fret over a probable lean period. The incentives are promising indeed.
The Scope of Affiliate Marketing In India
Despite the concept still being in the nascent stages in the country, the development potential is vast and has no bounds. As we have already taken a gaze at the versatility of the field, it won’t be an overstatement to conclude that the scope of affiliate marketing in India is unshackled. Due to the high benefit nature of the program for both affiliates and merchants, much growth is yet to spur.
As we all are aware, the upcoming era is going to immerse us into the digital world further which means a massive increment in internet marketing is yet to be seen. In the present scenario and the time to come, as the service providers increase, so will the craze and revenues from affiliate marketing.
Major Predictions For 2019
According to a forecast, the affiliate marketing industry is estimated to reach a whopping $6.8 billion till 2020. To present themselves directly to a target audience, more and more businesses are predicted to adopt the approach in the upcoming year. Technological advancement is on its way, and so is the rise in affiliate programs. As users add more devices to their day to day lives the marketing strategies of businesses undergo a modification. Here are some areas and ways in which affiliate marketing is predicted to rise in 2019.
1. Enhanced Customer Acquisition and Value
Due to its ability to increase clientele, affiliate marketing deserves a valuable as well as a strategic channel within the market matrix. According to the evaluation conducted by senior marketers, a paradigm shift of budget towards the affiliate sector is a likely prognosis.
2. Increment In Personalization
Personalisation and affiliate marketing both are on the rise. The clever combination of these two powerful approaches is sure to result in the development of a ‘holy grail’ method of marketing. All businesses and marketers need to do is to provide goods and services tailor-made to the requirements of the customers at an individual level.
3. Boost For Bloggers
As the affiliate trend spreads is paws to bloggers and website reviewers, the additional benefits will encourage more individuals from this field to join their hands with companies offering such programs.
4. Content Marketing and Influencers Upliftment
Content marketing has been and will always be an important method of promotion and increasing brand recognition. Affiliate marketing is predicted to increase opportunities for content developers and broaden the nature of their services. Same goes for Instagram, Twitter and Facebook influencers.
Wrapping It Up
Affiliate marketing is a concept that took a while to arrive in India but once it did, it matured at a swift rate. Established businesses, e-commerce startups, and online betting platforms are some sectors that witnessed a colossal magnification in their revenues. Individuals who rely on the internet for their income or for businesses seeking out stupendous reach of the internet to acquire more customers can rest assured.