Since the concept of affiliate marketing emerged, it continues to be a productive source of income for online content creators. It’s a fact that it’s harder to make money these days than in the early days of affiliate marketing. However, the numbers show that this market continues to grow, still allowing to make big dollars with the right strategies.
Affiliate Marketing Market Grows 10% Per Year on Average
In the USA alone, the amount spent on affiliate marketing at the end of 2020 has exceeded 7 billion dollars. This growth rate refutes the arguments of those claiming that affiliate marketing has reached saturation point.
85% of Consumers Do a Google Search Before Purchasing Any Product or Service
The biggest force driving the continuation of the growth trend of affiliate marketing is the very attempt of consumers to reach detailed and objective information before purchasing a product or service. This is where content producers come into play. Content that is not produced by the brand itself is much more believable to consumers.
Affiliate Marketing Conversion Rates Between 0.5% and 1%
Conversion rates are critical numbers for the digital marketing world. The conversion rate of almost every digital marketing instrument decreases over time. Conversion rates provided by advertising are now referred to as one-thousandths. At this point, affiliate marketing has a much higher conversion rate compared to other digital marketing techniques. This ratio makes affiliate marketing an attractive tool for advertisers.
9-Year-Old Ryan Kaji Earned $29.5 Million From His YouTube Channel in 2020
9-year-old Ryan Kaji, one of the most significant sensations of the internet in recent times, earned $29.5 million in 2020 from his YouTube channel, where he produces content for children. A large part of this income was achieved through agreements with brands.
Retail Industry Makes 43% of Affiliate Marketing
The retail sector witnessing the highest sales figures on a unit basis is the biggest player in the affiliate world. The information need of consumers while shopping in this sector is what primarily leads to this large share.
Affiliate Marketing, the Biggest Source of Income For Websites with Low Number of Visitors
Studies have shown that websites with an average of less than 5,000 unique visitors per month have difficulties generating revenue from advertising models. In return, they can generate income from affiliate marketing. Affiliate marketing is an essential source of income, especially for micro-influencers producing content in a limited area, thus appealing to a limited target audience.
18.70% of Affiliate Revenues Come from Fashion Products
Fashion products have a significant share in the online retail industry, also echoing in affiliate marketing statistics. Fashion products are followed by sports and outdoor products with 14.8% and health and wellness products with 11.30%.
This content was originally published here.