Affiliate marketing refers to a situation wherein one earns a commission for conducting extended business transactions on behalf of a firm or business house.
Affiliate marketing widens the scope of the business dealings of a firm, as well as of offering employment and bringing within its fold multiple intermediaries.
Because of these reasons, it’s safe to assume that the affiliate marketing industry is actually expanding. Of course, mere assumptions are never enough, so we must break it down further. The affiliate definition suggests that the term means “officially connected to an organised system”.
Now, what exactly is this ‘system’? In the case of affiliate marketing, ‘organised system’ refers to any firm or business house that an affiliate marketer chooses to represent through delegation.
Within India alone, there are thousands of enlisted affiliate marketing companies. Obviously, some out of these are more efficient in securing desired transactions than the rest, but the fact remains that even internationally, the affiliate marketing industry is quite enormous.
Affiliate marketing companies are just equally numerous in the international picture, too. This goes on to illustrate that the affiliate marketing industry is profitable, irrespective of the geographical area and demographic that it caters to. Affiliate marketing definition suggests, combined with the profitability of the same, that the industry faces all-out expansion in intranational and well as international fora.
It is foolhardy to depend on subjective factors like the aforementioned ones to determine the extent of the affiliate marketing industry, so resorting to empirical statistical data would be a better option. According to trusted sources, at a net worth of $12 billion, the Affiliated marketing industry is deemed to be one of the fastest-growing industries currently. Affiliate marketing companies are flourishing around the globe, in fact, considering that it is a subsidiary industry, it is downright surprising that the revenue accrued from all digital platforms is heavily contributed to by the Affiliated marketing sector. Not just that, it is estimated that 81% of brands and labels around the globe are reliant on Affiliated marketing agencies for their business transactions.
What are the factors responsible for this phenomenal rise in the Affiliated marketing industry?
- It is well suited for all age groups. Any non-minor belonging to any age group can work as an affiliate marketer.
- The global fashion industry is a primary dependent of Affiliated marketing, and that itself propels the Affiliated marketing industry.
- A huge percentage of online Affiliate marketers use more than one network to access and promote. Hence, the Affiliate marketing industry grows.
- With recent developments in Mobile technology, webmasters design marketing interfaces apropos of cell phones, and since a large part of the general populace considers smartphones to be the most convenient instrument for accessing the internet (and, by extension, carrying on transactions through the internet), it is obvious that the affiliate marketing industry is showing a trend of growth.
As the number of webmasters is ever increasing, the Affiliate marketing industry is constantly appropriating the functionality of more and more major industries. And yet, the curve for scope in the Affiliate marketing business doesn’t seem to tend to flatten anytime in the near future. The affiliate marketing industry is already quite huge, and it would be safe to assume that it will continue to grow for quite some more time.