Affiliate marketing is growing quite quickly in the UK, and being used for driving sales in more and more industries. According to a recent report from the Internet Advertising Bureau, the total spend in 2017 for affiliate marketing went up from £482 million to £554 million, which works out to 15.1% growth.
This is quite a significant jump for one year, and many are seeing continued upticks throughout 2018 so far. When looking at how well this type of marketing works, it becomes clear why companies are turning to affiliate marketing in such numbers.
Over the past year, the affiliate marketing strategies generated £8.9 billion in sales, which is up 9.2% from the previous year. This works out to a return of £16 for each £1 spent on this type of marketing. With success like this, we can really expect its growth to continue.
Helen Southgate, IAB UK’s Performance Marketing Advisory Group’s Chair, said, “As the market matures, we are seeing more innovation, transparency, broader reach and brands increasing their spend in the sector whilst maintaining ROI.” She went on, “Affiliate marketing is still the one true performance model and I expect this to growth to continue into 2018 and beyond.”
The positive results are helping to build even more growth. As many industries that previously didn’t engage in affiliate marketing are seeing its success, they often begin working to learn more about it, and eventually implement it into their overall marketing strategy.