NovaXyon Affiliate Marketing 5 Guidelines For Good fortune In 2024

5 Guidelines For Good fortune In 2024





Founder and President of The Evoke Agency, a 4x Inc 500 and 5000 firm focusing on social media, content creation and public relations.

Any brand looking to compete in the marketplace likely understands the benefits of influencer marketing. In 2023, the global influencer marketing industry was estimated to be worth $21.1 billion, while U.S. influencer marketing spending growth was expected to outpace ad revenue growth on almost every major platform.

Ever-changing, the influencer marketing industry is perpetually inundated with new platforms, new stars and new potential streams of revenue for brands and creators alike. So, how can brands and marketers succeed with influencer marketing in 2024? Here are some tips.

Rethink Your Always-On Strategies

As I see it, there are two key points to be aware of while planning your always-on strategies (strategies that are activated consistently throughout the year). First, as I predicted for 2023, micro-influencers have become powerful for influencer marketing strategies. Creators with 100,000 to 200,000 followers drive 5.6 times the sales of macro-influencers with 200,000 to 500,000 followers. They also have the strongest performance in terms of views and engagement rates. Micro-influencers are often the best way to authentically connect with audiences and target groups as they have niche expertise and a trusting audience network. Don’t get too caught up on follower count—look at engagement rates instead.

Second, consider and “test and learn” where your influencers are driving consumers, and how. Interestingly, 82% of Gen Z and 66% of millennial consumers, as well as 57% of the general population, purchase influencer-recommended products in-store—not just online. That means if your product isn’t available via e-commerce, that’s okay. Encourage influencers to push consumers to shop in stores to assist in conversions beyond the screen, and see how your sales shift.

Consider Partnering With College Athlete Influencers

New to the influencer marketing landscape is the integration of college athletes, who are now able to benefit from their name, image and likeness (NIL). This opportunity began in 2021, but in 2023, we really saw influencer partnerships with college athletes pick up speed. I think such partnerships will continue to accelerate through 2024.

Data has shown that professional athletes have double the engagement rate of “average” influencers, or those who have built their careers solely around their influence and content capabilities. While student-athletes are not professionals, nor are they inherently social media influencers, they have the potential to massively impact their fans, especially in specific regional activations. Sometimes college athletes need more guidance on content creation, but NIL deals are an impactful and efficient strategy because of the fandom they inspire.

Think Beyond Organic Content

Brands frequently use influencer-created content as their own organic content, but don’t ignore the opportunity to brief influencers on content creation for paid advertising. Consider including paid usage rights within their contracts—these can often be a benefit to influencers. Your advertising budget helps extend their reach and awareness, and sharing this information with them is a great negotiation tool.

On TikTok specifically, Spark Ads leverage organic TikTok posts as advertisements. This offers an opportunity to turn your high-performing influencer content into an ad for your brand. And although it’s tempting to edit their creative with lots of branded elements, don’t. Platform-native content performs well as ads and may lead to longer watch times and more opportunities for conversion.

Jump On The Affiliate Influencer Bandwagon

As social media platforms become increasingly integrated with e-commerce capabilities, influencer marketing is converging with affiliate marketing and moving beyond the objective of awareness and consideration to trackable conversions. More and more influencers are posting reviews or demonstrations in exchange for a commission per sale from their affiliate links.

So, does it work? Put simply, yes. Affiliate marketing is expected to grow significantly through 2031. It currently drives 15% to 30% of e-commerce sales, and most executive-level marketers who oversee affiliate marketing rank it as one of their top three acquisition channels. Over half of Gen Zers and millennials say they’ve clicked on shopping links from a creator’s social page, driving an average order cost of $100 to $150 from affiliate influencers.

Strong affiliates are marketing-savvy and close with their audiences. To ensure success with this strategy, vet your influencers based on past affiliate programs they’ve done.

Stay Up To Date On Trends

It’s safe to say influencer marketing is on a trajectory of dynamic growth. In this ever-changing landscape, make sure you stay in tune with trends to enable your brand to not only compete but also thrive in the realm of influencer marketing.


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