Brand’s Talk: Spending less on affiliate marketing? Why should you spend more on it?
IAMAI hosted its 7th edition of India affiliate summit on 25th August, 2021. The event edged forward with the intention of imparting knowledge and bringing forth some facts which are often subdued due to unknown reasons.
The event was full of insights and this particular session grabbed the most attention talking about the need of spending more on affiliate marketing. Coming to the experts, let us catch a glimpse of what the speakers had to say:
Neha Kulwal, Country Manager | Admitad Affiliate India was seen interacting with prominent speakers from brands like Udemy, Wakefit and Affiliate Insider. She moderated in one of the sessions on “ Spending less on affiliate marketing? Why should you spend more on it.” Speaking on the session she quoted, “Affiliate marketing has evolved to become a one stop solution for all the brands to gain an audience and sell their products through the right performance based model. It has always helped brands drive online sales and almost generates 15-20% of the total revenue for the brands. It is a very low cost and effective model to start affiliate programs across borders”.
Punit Chahar, Asia Head – Performance marketing | OLX Autos said “Affiliate Marketing needs to be looked at from a long term partnership perspective. Finding the right operating model and right partners, which are suitable to your brand, is the key to create a win-win situation for all the parties involved, the brand, the network and the publishers. Also like any other marketing channel, affiliate marketing too requires patience and experimentation to find the right fit and create value for your brand. When I look at any affiliate channels, I keep three things in priority: Efficiency, scale and efforts”.
Sunanda Sethi, Head- Partnership and Affiliates marketing | Udemy said “Affiliates play an important role and are instrumental in every brand’s success. In a continually evolving modern and digital marketplace, affiliate marketing offers sellers an opportunity to market with extreme precision and efficiency, thereby saving businesses time and money. Before allocating budgets, every brand should look at their sales funnel which makes it a lot easier to decide on everything. By maximizing this form of business promotion and budget wisely, we will see the results in the bottom line”.
Parasar Sarma, VP- Growth | Wakefit put his point as “ The Affiliate Marketing sector is poised to witness mainstream adoption, as the D2C sector sees exponential growth. As a research and innovation driven organization, we strongly believe that technology and design thinking can enhance tracking mechanisms, measurement and reporting in the affiliate marketing industry, which will consequently help the sector mature in the next few years”.
Lee Ann Johnstone, Founder | Affiliate Insider quoted “ Affiliate Marketing is growing at a rapid pace, it has not shown signs of stopping for the two decades I’ve been in it. However there are many myths that still need to be cleared up about how quickly it delivers results. It takes time to test, build trust and reap the long term gains an affiliate program affords. The best part of investing in affiliate program marketing – is that it works on a pay – for – performance model which also helps brands maximize smaller budgets and effectively reach niche audiences they wouldn’t normally get in front of directly.”
With every passing year, brands are understanding the need of different channels and thus most of the brands and online marketplace are partnering with the affiliates as they increase their bandwidth in the business of gaining more customers.