AWE18 The four big challenges for Affiliate Marketing

So my name’s Dominic Balizewski I’m head of new Ventures at Decision Tech So I’d Say the first big trend is GDPR It’s something which is on everybody’s radar as it has been for a little while now, but
is here we are in GDPR land and I guess the biggest challenges are still a
lot of unknowns. There I was speaking to other affiliates and businesses
monetizing using all sorts of channels I guess everyone was kind of aware of
what work, was aware of what the regulations would be when they came into
force but in terms of how they implemented it, they were waiting to see
what everybody else did, and we’re still in this kind of, we’re still in a bit of
a no-man’s land because what will inevitably happen is there’ll be a first
big fine and that will be the line in the sand of this implementation is wrong
and suddenly ever more have their yardstick to which to compare which to
compare to wish to compare themselves and it will it will begin to crystallize
how people should behave around GDPR but there’s a lot of uncertainty at the
moment and there’s also a lot of stuff which was acceptable
it was ways of making money which you just can’t do anymore so email
especially in the UK has it was going and dying for sort of a number of years
but that’s very much a channel which is I don’t even know where the where
that’s being used really from a mass market perspective yes absolutely still
use from direct but gone are the days of shotgun mail shots for example and the
same is true in terms of collecting user data so it’s selling data on to other
people used to be quite easy to do that not so much now so we’re still even
though we are in GDPR land we’re still in a little bit of a world of
slight unknowns until we see a first few fines I think. I think another big trend
at the moment is influences so I’m chairing a panel at Affiliate Summit East
next week actually about influences because it’s my view is it’s kind of the
the newest old trend in in the affiliate industry because what is it what is an
influencer there’s an argument that a blogger or even a comparison site or a
review site or anyone who is changing someone’s or influencing someone’s
opinion of something is an influencer yet we as an industry are suddenly
obsessed primarily by people with heavy sort of social media clout and so I
think we’re still getting our and as an industry what is an influencer
how should we as affiliate or we as merchants engage with them and crucially
how should we track and remunerate them so that’s a really interesting trend at the
moment I think. A third trend if I kind of go for the hat trick is I think
we’re seeing a big entrance of what we would call media publishers so new sites
or review sites increasingly aware of the opportunities within the affiliate
space because these guys are used to monetizing their sites using display
inventory and with a combination and selling data and the combination of GDPR our programmatic and that nexus of those two it’s becoming increasingly
difficult to make the same amount of money from those channels so these guys
have large traffic volumes and aren’t doing very much in affiliates or
haven’t been until very recently we now we work with several of those guys and
they’ve gone from it being something on the radar to we’re going to do this now
and the speed at which those guys are growing is, is very impressive very
impressive. Another big trend I think is open banking and fin tech so we are
seeing a really big change in how people can access their financial data, it used
to be you’d go to your bank and your bank would tell you how much money
you’ve got and your bank would show your transactions and that’s how it worked. We
are now in a world where anyone can access their data using any service they
want and so there are loads of account they’re called account aggregation
services but basically apps where you can bring all of your accounts into one
place and those apps will analyze your spending on your money for you which is
really useful for consumers but what it means is those apps can then start
understanding how you like to spend and serving new useful insights as to how
you can save money and a big part of that I think is going to be your which
insurance is due for renewal or your spending this amount of money on travel
or on your holidays here is an offer which is specifically relevant to you
which will be great for consumers but those deals will be monetized through
affiliate links and we are right on the cusp of this but I think over the next
five years the way that people engage with financial services
and the way that they engage with other sort of marketing, shopping and
utility purchases for example will all merge and suddenly we’ll become used to
our bank or a financial service app or a FinTech app, there’s loads of them out
there, being the place we are looking for our financial data and then telling us
or giving us recommendations as to where we should we should be shopping which is
genuinely useful for us and so we’ll respond to that and then buy and that
means our relationship with with that financial service is changing we’re no
longer just paying them for financial products they’re also becoming a curator
of deals and offers for us which used to be an entirely separate sort of industry
so I think it’s a really interesting one to watch

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