Whether you’re a retailer or publisher within the fashion industry, if you’re not familiar with affiliate marketing as of yet, you should be! Online fashion is booming, and you could be missing out on serious opportunities to generate income. When it comes to affiliate marketing, we know a thing or two. Luckily for you, we’re happy to share our wealth of knowledge.
The stats you need to know
In 2017, affiliate network AWIN; a platform working with over 1,600 clients, tracked over 448 million clicks within the fashion sector. The influence of just one of the UK’s affiliate channels led to a 15% increase in spend within the sector, a 22% increase in traffic and a 16% rise in sales and revenue.
In Q1 & Q2 of 2018, AWIN reported that the average fashion brand saw a growth of 10% with typical baskets totalling around £66, and it’s only going to get better. With high street presence declining, global retail events such as Black Friday thriving and influencer marketing reshaping the industry, there’s no better time to get involved.
For retailers, the space is seriously competitive. After all, it’s never been easier to start a business, but it’s never been harder to build a brand. With huge brands dominating the UK market, you need to be doing everything you can to be seen. Affiliate marketing offers that, and so much more.
Breaking new markets
In recent years, we’ve seen an increased global appetite for British brands. Thanks to the internet being virtually borderless and international delivery becoming more affordable. Consumers all over the world are buying from the UK. If there’s a particular market you’d like to tap into outside of the UK, affiliate channels can be a cost-effective method of building brand awareness. In 2017, leading fashion retailer Missguided utilised affiliate marketing to cultivate both sales and brand awareness within the US and Canada. Through a combination of acquisition and awareness, the brand achieved treble digit traffic, sales growth and revenue in just 12 months. That’s the power of affiliate marketing.
In a nutshell, beyond generating income, nailing your affiliate marketing strategy can help you to build your brand presence through a boost in reputation, broadened audience and increased reach. But the best bit? Affiliate marketing is a cost-effective method to achieve your goals and encourage growth year on year.
How we can help
Now that we’ve showcased the industry as a whole, it’s about time we shared some of our own successes here at Converzion Digital:
- Lavish Alice commission to take over management of their affiliate program in July 2018 from another agency. We achieved a 539% increase in revenue with a continued MoM & YoY growth.
- We successfully launched an affiliate channel in the US for Missy Empire, with a 250%+ growth MoM within the first three months of launching through a tailored publisher strategy to drive brand awareness and traffic.
- Developed and deployed a Facebook Ad’s strategy for Jaded London. The campaign achievied a 700% ROI, whilst lowering the Cost of Sale every month since going live.
Granted, affiliate marketing is often over complicated. However, to best utilise this type of marketing to increase revenue, build brand awareness and break new territories: you need to understand each, and every tool used in the process. It can be overwhelming, not to mention, time-consuming. So, let us do it for you. Get in touch to see how we can rocket your sales and build your brand! If you enjoyed this post, you can read up on influencer marketing here.