Affiliate marketing is huge. With billions spent every year, it’s a ROI beast that marketers pour dollars into. Since the early days of online shopping, brands have been tapping into affiliate partners to drive traffic and e-commerce sales.
Last year alone, U.S. shoppers spent $334 billion shopping online and 16% of those sales came from Affiliates. In 2017, U.S. retailers spent $5.3 billion on affiliate marketing, and that figure is expected to balloon to 6.8 billion by 2020.
Amazing as that sounds, those figures only account for online sales – with a much bigger pie left out there for retailers: in-store sales. Shoppers spent $2.9 trillion in stores last year – without any affiliate marketing.
So why aren’t marketers applying their affiliate strategies to drive in-store sales?
This is symptomatic of a larger issue that plagues many brands: a refusal to look at their issues holistically. Too many retailers still silo e-commerce and brick-and-mortar efforts – dictated by separate P&L ownership. Why should one party spend their marketing budget to fund the top line of the other, even though they work for the same company? Crazy, right?
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Jonathan Treiber is the CEO & Co-founder of RevTrax
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