What’s New for People Working with Affiliate Programs in 2024
The first official internet marketing affiliate program launched in 1994. And in the last 30 years, the industry has changed significantly. Not only has affiliate marketing boomed – there are now more than 11,400 affiliate programs in the USA alone. But the process, tools, and opportunities have advanced to a completely new level. We’re now able to do things and reach wider audiences than the early adopters could ever have dreamed of. That’s why working with affiliate networks has become the most popular way for individuals to monetize a blog or website. But to make a success of your affiliate program work, you have to stay abreast of the latest industry developments. So, what’s on the cards for 2024?
Five Trends for Members of Affiliate Programs to Watch in 2024
AI has been creeping in everywhere over the last few years. But now it’s time for AI to help affiliates. In 2024, we’re going to see AI being used to support a range of affiliate processes, from enabling the better identification of targets and keywords to the provision of personalized support.
A move towards the metaverse
Virtual reality (VR) has been the subject of sci-fi for decades. But new technology means that a functional metaverse is far closer than many of us would think. And for affiliate programs and their members, it could hold a huge amount of opportunity. With the potential to open the door to new, wide-reaching marketing channels, the metaverse is a very exciting prospect. And we could see the first affiliate players making their move into meta later this year.
An opening to enterprise
Affiliate programs have rarely focused on enterprise. Enterprise-level business has typically been self-contained, leaving no room for affiliate services. In 2024, this is going to change. And for affiliates, this means opportunity. For anyone willing to put in the effort and focus on content creation, the enterprise market holds the potential to be extremely lucrative.
More brand to brand partnerships
Brand to brand (B2B) partnerships have long been used to help extend the reach of businesses. But it’s only recently that we’ve started to see more B2B relationships within the affiliate industry. This year, we’re going to see a lot more collaboration between affiliate program members. And this should lead to improved results for all parties.
A focus on fraud
Affiliate programs can provide a great source of income for anyone willing to put in the work. Unfortunately, some people have found it easier to make money through affiliate fraud than through more honest means. New technology means that affiliate programs now have more power to address this problem. So, this year, we’re going to see more of the top affiliate programs taking action to prevent fraudulent activity. And to improve the ethical standards of their affiliate partnership program members. Of course, this is only a concern for those who participate in unethical practices.
Thirty years is a long time in technology. Affiliate programs have stood that test of time because they and their members are extremely good at adapting. They change with the available technology. They are often the first adopters of internet trends and tech. And they manage this partly through their adaptability and willingness to stay up to date. Keeping an eye on the emerging trends can be a great way to keep your affiliate earnings moving upwards.