Affiliate marketing has, like any other form of marketing, developed over time. Now, affiliate marketing partnerships offer a unique way for brands to drive valuable results and gain control over marketing spend – something that’s particularly important during times of financial insecurity.
Gen Zers are impacted by the rising cost of living like everyone else, and the brands offering great deals and discounts will be the ones they remain loyal to long into the future. Likewise, brands are looking for the most cost-effective ways to gain new customers and lock in spending to help them reach commercial goals.
Affiliate marketing is a fantastic solution to this problem, and in this blog post, we’ll be exploring how you can use this revenue-generating channel to grow your business, discover new opportunities, and strengthen your brand.
So why is this relevant to you?
Times are tough, and the cost-of-living is hitting us all. And with students being savvier about their spending (more on this below), it’s understandable that youth marketers and brands are concerned about revenue growth and hitting targets.
But don’t panic, there is a solution! Taking the time to understand how young people are feeling and working reactively will help affiliate marketers to reach commercial objectives whilst remaining empathetic to audiences’ concerns – something that’s crucial for those wanting to build a strong brand-consumer relationship.
How is Gen Z feeling about economic uncertainty?
Gen Zers are struggling to pay for basic necessities, and as a result have less cash to spend on luxuries – in fact, the Student Beans insights agency Voxburner revealed that 80% are looking to cut down on non-essential spending and 69% are looking for cheaper alternatives. And with 90% saying they’d consider shopping with a new brand if they offered a student discount (we know, exciting!), those affiliate partnerships and discounts should be looking more appealing than ever before.
How can an affiliate marketing strategy generate revenue and strengthen your brand?
Affiliate marketing is a resilient revenue driver, and helps advertisers to meet their commercial goals across all sectors in an authentic, real way that helps to foster real trust amongst consumers. This is particularly important right now given the rising cost of living – young people are looking to brands for support (financial and otherwise), and will only commit to a purchase if they know the product and brand inside and out.
Exploring affiliate marketing and featuring your brand with popular publishers, like Student Beans, enables Gen Z to know and understand your brand on an intimate level, and once you’ve gained their trust, they’ll be with you for life. Choosing the right products to promote and understanding the environment that young spenders are living in forms the basis of all strong affiliate marketing strategies, and that’s where we come in…
Working with Student Beans to connect with Gen Z
Ultimately, Gen Z wants brands that align with their cultural values and understand what’s impacting them, and first party data gathered by publishers like Student Beans can help provide these insights. Don’t believe us? Check out the stats:
- On average, our brand partners have been able to increase student conversions by 3.5 times and repeat purchases of 21%, with 17% AOV gains
- Position yourself where it matters most, whether that’s carousels, social extensions, or push notifications
- We aren’t the average publisher – we offer end-to-end solutions and have award-winning tech to keep our finger on the pulse
Brand spotlight: Lime Crime
US makeup brand Lime Crime wanted to raise awareness of the and drive sales, and teamed up with Student Beans to create a killer marketing campaign. By working together to launch a 20% student discount and subsequent media campaign, Lime Crime saw conversions increase by 60% and an AOV increase of 19%. Make sure you check out our Supercharge Your Affiliate Marketing guide for case studies and information on how your brand can get involved.
Put simply, just because Gen Z are currently living through a time of uncertainty, it doesn’t mean they want to stop spending. Therefore, it’s more important than ever to step up and lock in Gen Z loyalty: trust us, you’ll see that revenue soar as a result.
Download our Supercharge Your Affiliate Marketing guide to learn more about how you can drive your affiliate marketing strategy, better connect with young people, and learn more about the key trends impacting the lives of Gen Z right now.
