We’re currently in the midst of a global pandemic, otherwise known as coronavirus or COVID-19. While we’re all scared about the health of our loved ones and ourselves, the pandemic has essentially brought the global economy to a standstill. While businesses that can be operated online have been able to continue, all the businesses that rely on foot traffic and contact with other people are struggling.
Many have even seen their businesses go under. In the past few days, we’ve seen the unemployment rate around the world skyrocket, and in America 3.3 million people filed for unemployment in the last week alone as they lose their jobs or are let go by the companies who decided to ensure their people could collect unemployment, rather than risk being unable to pay them.
Clearly, people are tightening their purse strings to weather the storm, and figures are estimating that the pandemic will cost the global economy $2.7 trillion, but how has the coronavirus affected affiliate marketing?
How is the Coronavirus Affecting Affiliate Marketing?
While everything still feels new, and most people are scrambling to cope with the situation over gathering data about the situation, marketing trends are showing that revenue has been lost across nearly every industry, and will continue to be lost for another 6 – 24 months before we can see a true recovery.
But what does this mean for affiliate marketers? Well, it depends on what you’re promoting. Let’s take a closer look at the different industries and the affiliate marketing trends that have developed thanks to COVID-19.
Industries with Traffic Growth Despite COVID-19
Affiliate marketing is a great tool to have in your arsenal in the time of a crisis like this, thanks to the fact that more people are at home and you don’t have to have any physical contact with your customers.
The affiliate marketing trends we’ve seen are:
- Home Schooling – as schools all over the world close, parents are expected to do their best to continue their child’s schoolwork. Of course, this is easier said than done, so many parents are heading online for advice, tutoring, lessons they can buy and print out, and for educational activities and supplies. Among Aragon Advertising’s featured offers in home schooling is this tutoring service.
- Craft and DIY – craft niches are always popular, but with the increase of people at home and looking for productive and relaxing hobbies to dedicate their time to, craft is increasing. DIY tools and home maintenance niches are also doing well as people put their time at home to good use.
- Online Business – an evergreen niche, work from home and online business sites have seen a surge in traffic as those who are at home or have lost their jobs search for ways to supplement their income or support their families.
- At Home Fitness – with the world at home and all gyms closed, many people are turning to online fitness guides and equipment to stay active and stick to their fitness routines, especially as anxiety and fear is high.
- Business and Personal Finance – as people struggle, they turn online for solutions.
- Remote Working – businesses all over the world are forced to try remote working and are on the search for solutions.
- Recipe Sites – many recipe sites, especially those that focus on cheap meals, have seen an increase in traffic. Similarly, grocery-related offers are also seeing positive results.
- Medical Goods – All medical goods sites have seen an increase as people prepare for the worst. Aragon’s highlighted health offers reflect this need.
- Survivalist and Homesteading – people are turning to self-reliance and need the guidance and supplies to do so.
Industries with a Decline in Traffic Due to COVID-19
Traffic is down across most industries, though businesses and affiliate sites least affected by the virus should start to see a steady rise back up to normal over the coming months as the world’s population settle into life in quarantine. Here are some of the hardest-hit affiliate marketing trends we’ve seen:
- Travel – of course, all traffic to travel sites are down as people rule out the possibility of travel for pleasure for at least the next six months. The virus is expected to lose the global travel industry $820 billion. This sector is expected to experience a serious downturn for the foreseeable future – unfortunately, likely until this time next year, as coronaviruses often experience a resurgence in the fall before dying out completely.
- Insurance – people are looking to the short term, not to the future.
- Non-Essential Products – things for outdoor hobbies that have been put on hold have seen a decline in traffic, as well as any other product that is not usable within the home.
As an affiliate marketer, you have the ability to pivot quickly to reflect the new trends, so if you are able to do so, it’s worth keeping in mind, especially if the majority of your eggs were in a now-empty basket. You are also at home – so use that time to research likely trends that are here to stay once COVID-19 is over. On a bigger scale, it will take some months and the recovery of the economy to see which industries – affiliate marketing or otherwise – were hardest hit by the virus, and which were able to thrive.