Some things in life go hand in hand naturally: bread and butter, knife and fork, salt and pepper. However, few things make a more natural partnership than a sunny day and a Sydney Harbor cruise.
While you'll often find knives and forks side by side in the cutlery aisle, Partnerize managed to avoid the worst of La Niña and have a great day at the port for their annual Partnership Day.
Before you start thinking this is nothing more than an excuse to sunbathe and avoid the B&T rides, there was some work to be done. Industry leaders gathered to discuss the current economic climate and its impact on the affiliate market, as well as how marketers can harness the unique power of affiliates to succeed at every stage of the sales funnel.
“Partnerize acts as a market leader between publishers and advertisers. In digital marketing, it is very important to bring these two forces of nature together, literally in the same room, to communicate and provide training and advice on some of the opportunities and challenges they present,” Adam Braunstein, director and senior vice president of Steel Partners told us President of Japan and the Asia-Pacific region.
The event also provided an opportunity for industry stakeholders to discuss how to "navigate what is currently a fairly busy market," Brownstein said.
While most marketers are rightfully worried about the economic problems that await them in the next 12 months, Brownstein seems to be calm.
“If I told you or a business person. "Hey, I can give you a solution for what you're already using that's more scalable, less expensive, and more scalable." You will probably say. - Tell me more. And that's exactly what affiliate marketing does, especially for online marketers who want to get the most out of their marketing efforts.
In a panel discussion, Henry Hooper, Managing Director of Klook, Christopher Cheng, Director of E-Commerce at PetCulture, Troy Mulder, Head of Partnerships at THE ICONIC, and Leah Ang, Head of Marketing at Eva, explained why. In existence for over 20 years, affiliate marketing has always played a secondary role in search, social, and programmatic advertising.
“Affiliate marketing usually takes 5% of the people in the channel, sometimes 10 or 15%, but rarely more than 20%,” Braunstein explained.
“But it's cheaper, more dynamic, and more scalable than platforms like Google and Meta. Part of our mission and how we think about marketing is to educate effective senior marketers, whether CFO or CMO, in cheaper and more measurable solutions.
Of course, the media landscape is changing rapidly. The relationship between brands and consumers on social media, especially Twitter, is changing as users seek greater authenticity. Online publishers have to compete with streaming platforms for things like affiliate deals and user attention.
But again, Brownstein said, this is an opportunity for affiliate marketers.
“We are all consumers, wherever we turn our attention, who can be monetized. It could be content at the top of the funnel, whether it’s a blogger or an influencer, it could be content in the middle of the funnel, whatever,” he said.
“We talked a lot today about the entire marketing funnel, the entire journey of a customer from awareness to closure, whether you buy CULT equipment or a Koala mattress.
“One of the biggest challenges for digital marketing departments is funnel attribution for each conversion. How does affiliate marketing solve this problem?
“At the same time, there are a few issues, including making sure everything is aligned and how you can display the map. In other words, how do I prove to you that what started with influence ended with cashback and coupons? This is what will help our brands perform better in 2023.”
