The figures are in a new report from E-consultancy which says the growth rate for UK affiliates far outstrips the growth rates for both online advertising and search engine optimisation, which the publisher of best practice internet marketing reports expects to grow by 32% and 70% respectively.
Affiliate marketing is thought to have been started by Amazon.com founder Jeff Bezos, who created the Amazon Associates programme to help boost sales. Merchants like Amazon.com only pay fees when referred visitors become customers, making affiliate marketing very low-risk.
The concept has spread to several sectors, with the heaviest growth rates in financial services, gambling, telecoms, entertainment, travel and consumer electronics.
Average commissions for affiliates range from 5% to 8%. E-consultancy says many affiliates are skilled at search engine optimisation, particularly using paid-search networks such as Google AdWords. This helps attract targeted traffic for merchants, improving conversion rates.
E-consultancy CEO Ashley Friedlein said: "Affiliate marketing is becoming a real no-brainer for many businesses looking to drive online sales while avoiding the usual risks associated with online and offline marketing."Affiliate Marketing Networks A Buyers Guide