Performance Marketing for Merchants in 2024
The affiliate marketing industry will change not just for affiliate marketers, but merchants too. Liane Dietrich, Chief Operating Officer of Rakuten Marketing provided Website Magazine with some valuable insights into how the performance landscape will look for merchants in 2024.
The reason, suggests Liane Dietrich, Chief Operating Officer of Rakuten Marketing, is that “A lot of the growth will come through global channels because the pay-for–performance model is ideally suited for companies that want to expand their reach into new markets,” continuing, “Affiliate marketing enables them to test the waters in a new geography without incurring significant overhead by hiring additional fulltime staff and renting office space until the market has been proven.”
There are still other reasons that affiliate marketing will stand the test of time. Even with a more sophisticated affiliate base and immense potential remaining, merchants will also benefit from integrations with other, complementary marketing channels such as search, display, retargeting and product listing feeds.
“By bringing these elements together, advertisers will be able to better understand campaign performance across their various channels, said Dietrich, suggesting that affiliate marketing will likely become part of an integrated digital marketing services offering. “This will result in more effective online marketing strategies, better allocation of budgets, and more cohesive teams.”