Top 10 Affiliate Marketing Stats of 2023
Gear up for 2024 with these game-changing affiliate marketing stats! Largely taken from Captiv8’s 2023 Affiliate Influencer Marketing Benchmark Report, these insights into affiliate trends are key for marketers as we enter the new year. Discover the power of video content, the impact of follower count on sales, and the dominance of smaller influencers in engagement rates.
1. Videos are the most common content type used by affiliate creators, accounting for nearly 50% of all affiliate posts (Captiv8, The 2023 Affiliate Influencer Marketing Benchmark Report, 2023).
To help benchmark affiliate influencer marketing performance, Captiv8 released the 2023 Affiliate Influencer Marketing Benchmark Report. Videos reign as the primary content type utilized by affiliate creators, constituting nearly 50% of all affiliate posts. This statistic underscores the power of visual storytelling, highlighting the power of video content in driving affiliate marketing success.
2. Affiliate creators are driving an average order size of $100-$150 (Captiv8, The 2023 Affiliate Influencer Marketing Benchmark Report, 2023).
The effectiveness of affiliate creators in driving high average order sizes emphasizes their significant impact on consumer behavior. Creators’ capacity to influence purchasing decisions extends beyond engagement metrics, solidifying their role as key drivers of revenue generation. This underscores the growing recognition of creators’ role in not engaging audiences and fostering substantial transactions and conversions.
3. Affiliate creators are driving an average cart size of 2.5 items per purchase (Captiv8, The 2023 Affiliate Influencer Marketing Benchmark Report, 2023).
This stat highlights the impressive impact of affiliate creators, who achieve an average cart size of 2.5 items per purchase. This showcases creators’ influence in encouraging consumers to buy multiple items, emphasizing their strong presence and effectiveness.
4. Affiliate marketing is driving 15-30% of eCommerce sales (Influencer Marketing Hub, Top Affiliate Marketing Statistics for 2023, 2023).
Affiliate marketing plays a substantial role in the eCommerce landscape, contributing to driving between 15% to 30% of total sales. This statistic underscores the impact of affiliate strategies in generating revenue and facilitating consumer purchases within the online retail space.
5. Creators with 100-200K followers are driving 5.6x the sales of creators with 200-500K followers (Captiv8, The 2023 Affiliate Influencer Marketing Benchmark Report, 2023).
Creators with 100-200K followers drove 5.6 times more sales than those with 200-500K followers. This group also achieved the highest monthly average sales, orders, and clicks. This suggests that a substantial but not overly large follower count can strike the right balance between reach and engagement. As a result, employing affiliates of this size can lead to more effective sales conversions in affiliate marketing.
6. Creators with 50-100K followers dominate performance on Instagram, with a reach percentage that is 42% higher than creators with an audience of 500K+ (Captiv8, The 2023 Affiliate Influencer Marketing Benchmark Report, 2023).
Influencers in this category had a reach percentage that was over 42% higher than creators with an audience of 500K+. With their unique style and authentic approach, influencers in this follower range can create compelling content that resonates with their dedicated audience. Their engaging storytelling and expertise in their niche captivate viewers, keeping them hooked and interested in the content they share.
7. Creators with less than 50K followers dominate performance on TikTok, with an engagement rate over 8x higher than that of creators with an audience of 500K+ (Captiv8, The 2023 Affiliate Influencer Marketing Benchmark Report, 2023).
On TikTok, creators with less than 50K followers achieve an engagement rate over 8x higher than those with 500K+ followers. This highlights the remarkable impact of smaller creators, driving significantly higher engagement on the platform.
8. 26.5% of affiliate marketing posts are Instagram Stories, making it the second most-used content type by affiliate creators (Captiv8, The 2023 Affiliate Influencer Marketing Benchmark Report, 2023).
Instagram Stories comprise a noteworthy 26.5% of affiliate marketing posts. Stories offer creators a way to generate immediate engagement and are frequently employed to directly guide followers to specific links. Furthermore, their dual function in both captivating audiences and driving actionable results makes Stories an effective piece of affiliate marketing strategies.
9. 11% of affiliate marketing posts are carousels, making it the third most-used content type by affiliate creators (Captiv8, The 2023 Affiliate Influencer Marketing Benchmark Report, 2023).
Carousels account for 11% of affiliate marketing posts, securing the third position among content types favored by affiliate creators. This versatile format demonstrates high effectiveness, providing ample opportunities to showcase a wide array of products or services. Carousels facilitate engaging and informative content, enabling creators to craft compelling narratives that resonate effectively with their audiences.
10. Affiliates with follower counts between 50K and 100K had the highest conversion rate of clicks to orders at 0.90% (Captiv8, The 2023 Affiliate Influencer Marketing Benchmark Report, 2023).
This suggests that creators within this follower range have successfully managed to engage their audience and encourage a larger proportion of their followers to take desired actions.
2024 Affiliate Influencer Marketing Checklist
Define Clear Objectives: Outline specific goals – whether it’s increasing sales, expanding reach, or boosting brand awareness – to steer your affiliate marketing strategy effectively.
Identify Ideal Affiliates: Research and select affiliates whose audience aligns with your brand. Look for influencers or content creators whose values and niche resonate with your products or services. Captiv8’s Creator Affiliate Suite streamlines brand efforts in identifying influencers, simplifying the selection process.
Craft Compelling Offers: Design attractive commission structures and incentives for affiliates. Consider exclusive discounts, commission rates, or bonuses to entice affiliates and their audience.
Implement Tracking and Analytics: Set up robust tracking systems to monitor affiliate performance and ROI. Utilize affiliate tracking software to accurately measure conversions and assess the success of each affiliate’s efforts. Utilize Captiv8’s proprietary tracking pixel to comprehend ROI effectively and empower data-driven decisions in influencer marketing.
Regular Communication and Support: Establish open communication channels with affiliates. Offer support, guidance, and regular updates to maintain strong relationships and ensure they have the resources needed for success.
Optimize for Mobile and User Experience: Ensure that your assets and links are mobile-friendly and offer a seamless user experience. 50% of affiliate-driven traffic comes from mobile devices.
Compliance and Transparency: Stay compliant with FTC guidelines and ensure your affiliates disclose their partnerships. Transparency builds trust with consumers and helps maintain a positive brand image.
Evaluate and Scale: Finally, regularly review the performance of your affiliate program against predefined KPIs. Identify successful tactics and scale them while reevaluating or refining underperforming aspects for continuous improvement.
These affiliate marketing stats underscore the influence of video content, the impact of creator followership on sales, and the dominance of microinfluencers. Brands can use Captiv8’s Creator Affiliate Suite to select affiliates, track, and foster transparent communication, ensuring a strong foothold in the ever-evolving world of affiliate marketing. Whether you are looking to kickstart your affiliate program or enhance an existing one, contact us for guidance on optimizing your affiliate marketing approach.
