Affiliate marketing is an extremely useful tool to get ahead in the business world. The concept works by linking businesses with other like-minded businesses in a way to boost one another through respective audiences, especially, as a Three Ladders Marketing study revealed, in traffic generation – with 79% driven by SEO and 60% by social media.
But with affiliate marketing revealing that only 0.6% have been affiliates since the boom in 2013, how can being an affiliate pay?
The answer: innovation. By finding innovative industries to conduct affiliate partnerships in, the system can be made to work for you. Here are 3 key industry examples.
Online gaming industry
The online gaming industry is a robust enough one to make an affiliate program work. Figures indicate that, in 2015, 33% of all gambling revenue came from the online sector. Online gaming affiliate marketing works as in a referral scheme, where players receive financial incentives to sign friends up. The network spreads with each affiliate gaining if they help widen the circle. For example, Gambling Deals offers cashback to those who sign up, with lucrative free money, free spins, and actual cash deals as options to choose from – and promises money back should a friend being referred sign up to play with you.
Dating sites are also a large enough niche with a dedicated enough audience to benefit from affiliate marketing. The online dating market generates around $2billion in revenue each year, seeing a 5% yearly rise from 2010-2015. The segment is never going to lose its clientele, yet it could become saturated. One good example of affiliate marketing here is the Dating Advice site, which sorts out dating advice sites and dating sites and eliminates any that would be unsuitable. By referring to itself as the word on online dating, the affiliate system appears to be working, especially in an industry reliant on reliability. Affiliate marketing works well for dating sites due to the credibility offered by the trusted master site.
The novelty gift market has an estimated market value of $19billion and is large enough as a market to attract some interesting affiliate partnerships. When people search for novelty gifts, they usually do so blind, choosing anything they find that catches their eye. So by amalgamating an affiliate program, all of the best choices can be in one place. For example, This Is Why I’m Broke offers an affiliate program that targets the various different niches that splinter off from novelty gifts (i.e. typical ones for men and women; pop culture gifts; technological gifts etc.). With all of the key affiliates in one place, and with the correct SEO work done to maximise the impressions with the audience, it can be quite lucrative.
Affiliate marketing can be made to work for you – but only if you’re smart about it. Some industries and markets are absolutely not the right fit for affiliate programs but, for those that are, they can work extremely well.