Even the Duchess of Sussex isn’t above a link in bio. Earlier this month, Meghan joined affiliate marketing platform ShopMy and shared commissionable links for everything ranging from a Reformation button-down to a Uniqlo trench coat. Meghan is certainly not the first public figure looking to make a buck off a product recommendation, and this isn’t her first rodeo, having used affiliate platform LTK prior to becoming a royal. But her decision to join ShopMy as one of the world’s most influential and recognizable people marked a high-profile moment for affiliate marketing and led some online to wonder whether everyone will soon have a monetizable lookbook as part of their online presence. Based on the booming business of affiliate marketing, it doesn’t feel entirely far-fetched. LTK, which was founded in 2011, was valued at $2 billion in 2021 and says it now drives $5 billion in annual sales. Earlier this year, ShopMy, which was founded in 2020, was valued by investors at $410 million, a fivefold increase from the year prior. Each month, more than $50 million worth of products are sold through creators’ ShopMy links, Tiffany Lopinsky, ShopMy co-founder and president, told Marketing Brew. Lopinsky said the affiliate marketing space is seeing growth as creators and celebrities look for additional ways to generate revenue and brands seek organic-seeming ways to connect with consumers. As of January, more than 550 brands had ShopMy subscriptions, and a majority of them don’t create more traditional sponsored content with influencers, she said. “People are starting to see affiliate as [almost an] alternative to sponsored posts,” Lopinsky told us. We spoke with Lopinsky about the changing nature of affiliate marketing and where ShopMy goes from here. Continue reading here.—KH |