Affiliate Marketing: Myths, Mistakes, and Marketing Magic Webinar

Affiliate marketing continues to evolve, offering untapped potential for brands to explore. In our recent webinar, David Lloyd, Chief Customer Officer at Awin, and Immy Hussain, Head of Affiliates at Summit, shared valuable insights on the myths, mistakes, and strategies driving affiliate marketing performance. 

Affiliate marketing’s growing impact – David Lloyd

Explosive growth of affiliate marketing

• Affiliate marketing is growing rapidly, especially in the UK, where it generated £21 billion in sales last year. Despite its growth, many senior marketers still undervalue it in their strategies.
• The number of affiliate partners has increased fivefold over the past 10 years, opening new opportunities for brands to collaborate. 

A shift beyond discounts

• Affiliate marketing is no longer just about cashback and vouchers. It’s now more diverse, involving content creators, influencers, and tech partners, enabling brands to craft more dynamic strategies. 

Debunking myths

• Many marketers still see affiliate marketing as niche. However, studies show that 92% of senior marketers find it effective, yet only 7% prioritise it in their budgets, indicating a gap between recognition and investment.
• Affiliate marketing plays a role at every stage of the customer journey – awareness, decision making, and post-purchase loyalty. 

Debunking myths and effective strategies – Immy Hussain

Affiliate marketing’s resilience

• Despite earlier predictions, affiliate marketing continues to thrive, growing in size with a cost effective CPA (cost per acquisition) model that helps brands generate incremental sales. 

Common myths debunked

• “Affiliates is only about vouchers and discounts”
Modern affiliate marketing includes a wide range of partnerships, from influencers to content creators.
• “Affiliates can manage themselves”
Brands must actively manage affiliates to align with brand values and ensure performance.
• “Affiliate marketing hurts luxury brands”
If executed correctly, affiliate marketing can help luxury brands grow without relying on discounts.
• “Affiliates “steal” sales”
With proper monitoring, brands can ensure affiliates add value without cannibalising other marketing channels. 

Mistakes to avoid

• Over reliance on too few affiliate partners: Diversification is key to prevent over dependence on a single partner.
• Auto-approving affiliates: Failing to vet affiliates can lead to troublesome partnerships. Always ensure high standards.
• Neglecting testing: Constantly testing and refining affiliate strategies ensures long term success. 

Maximising affiliate potential

• Understand the different types of affiliates such as cashback sites, influencers, and post purchase partners and strategically deploy them at various stages of the customer journey to maximise results. 

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Both David and Immy’s sessions highlighted one key takeaway: affiliate marketing remains a high growth and underutilised channel. With the right approach, effective management, diversified partnerships, and ongoing optimisation, brands can unlock significant opportunities for growth and stay competitive in today’s digital landscape. 

If you’re not yet maximising affiliate marketing, now is the time to rethink your strategy. Whether you’re just getting started or looking to optimise your existing efforts, embracing the evolving affiliate marketing ecosystem can drive real results. Get in touch with us at hello@summitmedia.com.

 

Watch the full webinar here: