Affiliate Marketing: The new frontier for B2B Growth

THE POTENTIAL OF AFFILIATE MARKETING FOR B2B BUSINESSES

Affiliate marketing has grown into a booming $20 billion industry as of 2024, showing a remarkable rise from $13 billion back in 2016. This growth trend indicates a strong future for affiliate marketing, with industry experts projecting that it could reach an impressive $40 billion by 2030.  

As brands increasingly recognize the value of affiliate partnerships, the affiliate marketing landscape continues to evolve, opening new opportunities for marketers, influencers, and entrepreneurs alike. If you're considering diving into affiliate marketing, now may be the perfect time to get started in this expanding field.

HOW DOES B2B AFFILIATE MARKETING DIFFER FROM B2C AFFILIATE MARKETING?

In general, B2B (business-to-business) and B2C (business-to-consumer) affiliate marketing cater to different target audiences, leading to distinct sales processes and product types. In B2B affiliate marketing, businesses are the primary customers, resulting in longer and more complex sales cycles compared to the typically quicker transactions in B2C.

Additionally, B2B affiliate marketing relies on targeted content, webinars, and networking events to engage other businesses, while B2C affiliate marketing focuses on engaging content, product reviews, and promotional offers to drive consumer sales directly.

For example:

IS AFFILIATE MARKETING SUITABLE FOR B2B COMPANIES?

Although it is seen that affiliate marketing has been booming in growth recently, its revenue is mostly generated from the B2C industry. The question is: “Is it suitable for B2B Businesses?”

Affiliate marketing thrives on products with low to medium friction in accessibility and understanding. Items that appeal to a broad audience and are easy to communicate typically perform best in affiliate programs.  

Affiliates often favor trendy products, particularly those powered by AI, over just commission structures. Nonetheless, there’s a suitable match for every product in the diverse landscape of affiliate marketing, emphasizing the importance of knowing your audience and effectively conveying product value.

Moreover, statistics do not lie and the insights from Referral Rock has stressed the importance of B2B affiliate marketing:

• 15% of digital marketing revenue can be attributed to affiliate marketing.

• In the U.S., affiliate marketing spend experiences a 10% growth each year.

• By 2027, the global market size for affiliate marketing is predicted to be almost $28 billion.

Overall, some key advantages of utilizing Affiliate Marketing in B2B businesses include:  

1. Extended Reach & Cost-Effectiveness: Leverages affiliates’ credibility to introduce your products to new audiences and pay based on performance, optimizing budget use.

2. Enhanced Credibility & Trust: Boosts brand reputation through trusted affiliates’ recommendations, building industry trust.

3. Lead Generation & Scalability: Drives high-quality leads through affiliates' networks and adapts to new markets or conditions with ease.

4. Measurable ROI & Continuous Optimization: Offers trackable metrics for better decision-making and ongoing strategy improvements.

DISCOVER HOW SHOPIFY AND HUBSPOT LEVERAGE AFFILIATE MARKETING PROGRAM TO EARN MORE REVENUE

HubSpot  

HubSpot’s affiliate program lets you earn by referring new customers, offering a 30% recurring commission for up to a year. It features tiered payments that grow as your referrals increase and a 180-day cookie window to capture conversions.

HubSpot offers price plans from $50 to over $3,000 per month and has an average payout of $276, making it one of the top-paying B2B affiliate programs.

Shopify

Shopify’s affiliate program offers commissions ranging from $150 to $500, depending on the service sold. Its 30-day EPC is $12.36, the highest in Impact’s B2B category.

There are an estimated 12 to 24 million ecommerce stores worldwide, with numbers growing daily. By 2026, these stores are expected to generate $8.1 trillion in revenue. With such a vast market, online retailers need a robust ecommerce platform, and about one in four have chosen Shopify, making it the second-most popular solution.

HOW TO IMPLEMENT AN AFFILIATE PROGRAM OF B2B BUSINESSES?

1. Identify Your Audience: Understand the needs of businesses or professionals who could benefit from your products to design a focused marketing campaign.

2. Select the Right Affiliates: Choose affiliates with strong reputations and a following that matches your brand, increasing the chance of driving sales.

3. Provide Support Materials: Equip affiliates with ads, referral links, and other promotional tools for effective engagement.

4. Offer Competitive Commissions: Set attractive commissions to keep affiliates motivated.

5. Optimize Regularly: Track and adjust strategies based on performance to maximize sales and revenue.

QUICK CONCLUSION

• B2B affiliate marketing differs from B2C in that it targets businesses, leading to longer and more complex sales cycles, and relies on targeted content, webinars, and networking events

• Affiliate referrals offer scalable, high-ROI growth for B2B SaaS. By carefully selecting affiliates and planning your program, you can significantly expand your reach and revenue. Stay tuned for more insights as we explore integrated growth strategies.

‍