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Press release: for immediate release
Feb 7, 2024
Awin, global marketing technology platform, announced a new survey Affiliate Marketing Opportunity Snapshot Study, conducted by Forrester Consulting. The survey details top digital marketing priorities for 2024, marketing challenges and opportunities, and the importance of managing diverse relationships and leveraging innovative partnerships to capitalize on the true potential of affiliate marketing.
Marketers today have distinct objectives that require a blend of forward-looking and reflective strategies. Of those surveyed, 46% invest in emerging technologies, driven by the desire to stay ahead in a tech-centric landscape marked by AI advancements. Equally, 46% of marketers are focused on enhancing measurement capabilities, with 45% shifting to first-party data strategies for customer retention due to changing privacy regulations.
According to the survey, 78% of senior marketers plan to expand their affiliate marketing activities in 2024. However, despite its effectiveness, affiliate and partner marketing currently sees only 7% of budget allocation, clearly contrasting its perceived value. Due to the adaptability and diverse touchpoints of the channel, respondents indicated that advanced tracking and reporting tools, better affiliate partnerships and more tailored guidance could drive more affiliate marketing investment.
The survey findings also show how affiliate marketing can help achieve business objectives, diversify ad spend, and develop a more balanced, ROI-driven marketing program. Additional survey data includes:
“Marketers must get the most out of ad spend while continuing to drive growth and empower the customer journey. This becomes increasingly challenging to achieve especially in the rapidly evolving digital landscape. Affiliate marketing offers brands adaptability and multifaceted advantages to demonstrate strong ROI across their channels,” said Awin CEO Adam Ross.
The Opportunity Snapshot by Forrester Consulting was commissioned by Awin and conducted in December 2023. The survey captured the perspectives of 650 director-level and above marketers responsible for managing marketing budgets, affiliate marketing and tech platforms.
For the full data and analysis from the Affiliate Marketing Opportunity Snapshot Study, please click this link.