DIGITAL MARKETING: Can affiliate marketing catch-on in B2B?
Affiliate marketing has been one of the fastest growing forms of digital marketing. To date, almost all of this growth has been in consumer markets, and there are many who doubt whether affiliate marketing has a place in B2B marketing. However, as affiliate marketing matures, it is clear this is not the case.
There are already opportunities for some B2B brands and, with a shift in mindset, many more could benefit from affiliate marketing. Consumer brands are rapidly recognising that affiliates are one of the most cost-effective and accountable marketing techniques and are pouring ever greater budgets into this channel. It is now time for B2B marketers to start taking it more seriously.
The affiliate revolution
According to the Merchants Survey Report 2007 of 239 UK companies in August and September, companies are now spending an average of ten per cent of their overall marketing budget on affiliate marketing. It delivers an average of 16 per cent of their online sales. The majority say they generate at least £1 million of revenue from online sales per year and 42 per cent generate at least £10 million online.