SYYCO’s 2024 Affiliate Marketing Predictions

Jan 24, 2024

SYYCO’s 2024 Affiliate Marketing Predictions

Affiliate Marketing 2024 Trends

Looking Beyond Last Click

It’s no secret that the affiliate marketing industry has been talking about the need to look beyond last click for quite some time. The need to understand the role that affiliate marketing plays in a consumer journey is certainly nothing new. A shift in the affiliate marketing landscape this year is expected with the emergence of GA4 last year, combined with Google’s planned 3rd party cookie phase-out and this has intensified the need for change. Brands who understand affiliate contribution and reward their partners accordingly will have a clear advantage as we head into 2024.

Navigating the Surge of AI

Amidst the surge in AI adoption across the marketing spectrum, the heightened sophistication of technology is reshaping not just affiliate marketing, but the entire marketing landscape. Jas Ryatt, our Head of Partnerships notes that ” the key stakeholders in the industry that will stay ahead will be the ones that genuinely understand the technology and tools that can enhance their businesses. Productive AI applications will help with speed, 

affiliate marketing predictions for 2024 retail and travel industries

accuracy and more importantly with enhanced personalisation and targeting – offering scope in the industry for new and unique partnership opportunities.

In this era of advanced technology, brands face a critical time to up their game, particularly when it comes to fraud prevention in 2024. Sarah Webb, Senior Partnership Manager at SYYCO,  highlights the need for a united front against affiliate fraud, expanding the conversation beyond rogue publishers. “There should be a collective responsibility, whereby agencies, networks, publishers and brands engage in more open and frequent communication. The evolving landscape demands a proactive stance, and prevention is more important than a cure.

The call is clear: with the rising tide of AI, the affiliate industry must unite to establish robust preventative measures and ensure a more secure marketing ecosystem for all stakeholders.

Economic Landscape

Coming out of a challenging 2023 which was marked by interest rate fluctuations and political turmoil 2024 continues to look uncertain with a General Election on the horizon. Based on the consumer trends we’ve observed, we expect companies leveraging effective routes to market, especially through affiliates, to thrive in 2024. With a shift towards more informed purchasing decisions and a decrease in impulsive buying, ensuring that your business is offering a competitive proposition is ever more important. As Clare Grist, our Head of Client Services, notes, “Coming into 2024 we are advising clients to ensure that they are keeping a keen eye on competitor offerings and are adapting and adjusting with the changing retail landscape. Customers are spending an increasing amount of time researching before purchase and need to feel that they are well-informed and are getting the best deal possible to get the sales conversion over the line.

In the travel sector, we have seen more consistency with sales and we anticipate that it will continue to maintain its robust performance. The outlook for the retail sector appears more uncertain, with consumers expected to tighten their spending. The relevance of influencer and content-driven strategies will continue to be paramount in 2024 across both retail and travel sectors.

Our team understands the necessity for all businesses, regardless of sector, to move away from a perpetual “on-sale” approach. Through 2024 we need to be protecting our clients’ margin. 

Overall Affiliate Marketing

Our Managing Director, Jon Weatherall, believes that despite economic unrest and markets being largely unpredictable in 2024, affiliate marketing will continue to be a crucial route to market. Affiliates running on a CPA basis is more cost-effective than other marketing channels. 

Affiliate agencies continue to demonstrate cost-effectiveness at a time when business expenses are reaching unprecedented highs and increasingly are a popular solution over in-house management.

Jon highlights this shift, stating, “In the current economic landscape, businesses recognise the financial benefits of outsourcing affiliates to agencies. The cost-effectiveness, combined with the ability to streamline affiliate programmes and retain top partners through meticulous management, positions agencies as strategic allies in optimising efficiency.

The SYYCO team continues to see that strong publisher relationships are the key to a successful affiliate programme. Affiliate partnerships continue to deliver large amounts of brand exposure at a relatively low cost making it very budget-friendly. 

To read more on why you should work with an affiliate marketing agency, click here. If you are already considering working with an affiliate agency and want to know how to make the right choice, click here