Internet opens up many avenues for business and revenue generation. Affiliate marketing is one such business avenue. It can be understood as a business partnership in which an agent called an affiliate through its website/blog attract a customer, who in turn, either directly purchase the products, or registers to the sellers newsletter, or just browses the site as per the terms decided. Affiliate marketing has been introduced in India by many online companies. India being a big and diverse market place with growing online business has a potential for innovative and effective business models. According to estimates, the Affiliate marketing industry would grow at a CAGR of 27% to reach USD 835 million by 2025 from the current USD 96 million, a staggering 8 times growth.
Affiliate marketing today is primarily being leveraged by product categories brought or consumed online. Offline categories have found it difficult to effectively leverage the potential of affiliate marketing. However, increasing use of affiliate marketing for influencing decisions, and integration of online/offline are driving such companies to invest more in affiliate marketing programs. Hence, traditional industries like BFSI, Automobiles & Real Estate are allocating more money to affiliate marketing programs.
The flexibility of affiliate marketing is enabling brands to engage with a network of global influencers who are looking to promote their products worldwide. Given the unit metrics of Affiliate Marketing, this marketing channel will continue to grow. It will continues to adopt new technologies and ways of working to meet the needs of brands in coming days.
The interest in the industry was clearly evident as the Internet & Mobile Association of India (IAMAI), organized the 3rdedition of its two-day India Affiliate Summit, which is being attended by over 3500 delegates, from various brands.
The event boasts of over 70 exhibitors, 50+ industry speakers, 350+ companies, and 12+ hrs of content. Besides, there is the ‘Affiliate Street’ – a section completely dedicated to Affiliate marketers to exhibit their services.
Some of the brands participated are: Flipkart, Google, Vivo, Tata, Pepsico, Abbott, DHFL, ICICI, PVR, Sun Pharma, HSBC, Reebok, Bajaj Capital, Best Seller, Zomato, Vodafone, Axis, Bata, Jabong, Micromax, Nestle, Shoppers Stop, Danone, The Body Shop, Honda, Kotak Mahindra, Big Basket, Piramal, Hero, JLL, Zivame, Croma, Barclays, Gitanjali, Novartis, Samsung, Dabur & Reliance, amongst others.