Why Small companies should work on their Affiliate Marketing strategy?

We all have heard this word, "Affiliate Marketing". Affiliate Marketing is still not new to many, but hardly anyone has understood its potential. It is a huge market waiting to be tapped when talked about in Indian Context. Indian Businessmen and Enterprises are waking up to this new marketing model which is not yet explored by many.

So I feel the year 2023-2025, will only make Affiliate marketing penetrate in India more and more. These can be observed by the fact that the new age edtech companies rising in various sector have the option of affiliate marketing as a built in option but what they lack is a proper system in place , a department which teaches and allows their affiliates, so as to drive more and more sales. Also the market has huge untapped potential which needs to be unlocked only through by proper mentorship and regular brainstorming various ideas.

Now let's discuss some facts:

1) The size of Indian Affiliate Marketing industry is about 300$ million which is set for double digit growth almost two times to 835$ million industry by the year 2025.

2) The Online re-selling industry has witnessed a huge growth and is all set to rise with rising dual income families. These too would try to tape in the growing trend with affiliate marketing.

3) The growing Edtech companies be it education space or in E Commerce are resorting to newer ways to tap in this market with affiliate marketing.

4) India has a huge population close to 45% -55%, that can be employed in part time, freelancing or in contractual roles that has not yet been tapped. India substantially lacks infrastructure, opportunities and resources to tap these housewives, college going students and retired persons looking to work a couple of hours a day. Affiliate marketing best suits them and some affiliate networks have already started tapping in these. But still the market size is huge enough that a share for everyone will still be big enough for each company.

6) People are nowadays becoming aware to the growing needs of having multiple sources of income so are trying to move to more internet based businesses or careers. This will give rise and has given rise to affiliate marketers in India.

7) People of India have now understood the power of Digital Marketing, Social Media Marketing etc. and are opting to live life as a Digital Nomad as opposed to working in a 9-5 corporate job. These changing preferences will make them scout for online career opportunities and affiliate marketing best fits in.

8) A rise in content creator economy is also one of the reasons why affilaite marketing is all set to boom. Many creators are forming partnerships with Brands to promote and give discounts to their network. This in turn will open up more brand collaborations which in turn will form more affiliate collaborations by businesses with marketers.

9) More and more exposure of Indian students/teenagers to Western economy instills faith in them that Internet Business can be build around with Flexibility of hours. This demands them to tap in more opportunities to work as an Affiliate marketer for Indian as well as global Companies.

10) The retired and fit population does not have any source of income or livelihood on which they can depend on. Affiliate marketing best suits them as it helps them work a couple of hours, with flexibility and remote working option to earn a decent livelihood.

12) Housewives who are not willing to step out of their houses to take care of family and kids, do have a couple of hours to work as an affiliate marketer from the convenience of their home. They are also looking to create stable careers through Internet led businesses. This also can be fulfilled by Affiliate Marketing.

So now that you have understood the power of affiliate marketing, small businesses can consider leveraging these untapped opportunities available within the Indian eco system.