6 stats every affiliate marketer needs to know

With countless digital marketing options to choose from nowadays, it can be difficult for marketers to keep track and take full advantage of everything. One of those options that may be overlooked in the e-commerce space is affiliate marketing. In fact, nearly 30% of US marketing executives are unaware of how affiliate marketing is effecting their revenue.   

Affiliate marketing is a powerful strategy that involves partnering with publishers who promote products or services for brands in exchange for a commission on sales they generate. It’s a cost-effective way for businesses to expand their reach and tap into new and established audiences while only paying for measurable results.  

6 stats every affiliate marketer needs to know 

In this blog post, we’re listing six affiliate marketing statistics that every advertiser and affiliate marketer should know. 

1. Affiliate marketing drives 16% of eCommerce sales in the US and Canada.  

This makes affiliate marketing one of the four largest sources of eCommerce orders. Affiliate marketing has proven to be just as effective, if not more so, than other mainstream marketing techniques such as email marketing, paid search, and social media marketing.  

 Source: Influencer Marketing Hub 

2. 80% of brands say affiliate marketing is an important source of revenue. 

Digiday and AWIN published a joint report on The State of Affiliate and Partner Marketing, surveying 100 brands and agencies. 34% of respondents said affiliate marketing will become significantly more important as a revenue source while 46% said “it will become more important.” 

Source: Digiday x AWIN 

3. Global affiliate marketing spending is projected to reach $14.3 billion by the end of 2023, with an expected increase to $15.7 billion by 2024.  

While it’s nothing new, affiliate marketing continues to trend upward as more and more brands lean into the tried-and-true approach. The quick expansion of affiliate marketing is a testament to how brands worldwide increasingly rely on this channel to connect with customers in the ever-evolving eCommerce world.  

 Source: Influencer Marketing Hub 

4. Affiliate marketing is the most successful acquisition channel for 20% of brand marketers.  

Marketers are always being asked to do more with less. One of the biggest advantages of affiliate is that it can be a cost-effective way to promote your brand, products, and services. Rather than investing in expensive advertising campaigns, brands can leverage the existing audiences of their partners to reach potential customers in a more organic and authentic way. 

Source: PepperJam  

5. 17% of brands spend 80 – 100% of their marketing budgets on affiliate marketing. 

Affiliate marketing budgets are growing. This is an 8% increase from the previous year’s survey. However, the majority of brands said their affiliate marketing spend falls between 21 and 40% of their marketing budgets. 

 Source: Digiday x AWIN 

6. Recent projections indicate that the affiliate marketing industry is anticipated to have a compound annual growth rate of 7.7% from 2023 to 2030.  

This means that the industry is set to continue growing over the next decade, providing more opportunities for publishers and advertisers alike. As the industry evolves, we can expect to see more innovative strategies and technologies being developed to further optimize the affiliate marketing process.  

Source: Research and Markets 

Affiliate marketing is a crucial piece of the digital marketing puzzle 

In 2024, marketers will continue to grapple with shifting consumer trends and emerging technologies. Marketers’ investment in their affiliate program can be the key to securing a competitive advantage. The digital landscape is more saturated than ever, making it critical to tap into your affiliate partners for increased brand exposure and customer acquisition. Beyond driving immediate sales, affiliate marketing also aids in building lasting customer relationships through incentives, rewards, and personalized shopping experiences. Doubling-down on your investment in affiliate can be a strategic move that positions your brand for success in today’s highly competitive digital landscape. 

Grow your affiliate program with Rakuten 

As the industry continues to grow and evolve, brands that invest in affiliate marketing will see significant returns. Now is the ideal time to start perfecting your approach. By working with trusted partners like Rakuten and implementing a solid strategy, brands can reach new audiences, build loyalty, and drive revenue growth. 

Reach out to get started!