Affiliate marketing firms have experienced a lot of growth in recent years. For instance, Impact raises $150 million after it signed several partnerships. In addition, it created a partnership management platform that allows brands to engage people for affiliate or influencer marketing.
Affiliate marketing started as a side gig for bloggers. However, the growing popularity of influencers changed the way affiliate marketing as we know it today. People can now use their online presence to make money and increase brand, service, or product sales. That’s why many influencers join an affiliate program.
Impact got $150 million in funding after a valuation of $1.5 billion. Qatar Investment Authority led the financing round. Also, Impact will use the money to expand its network. In addition, it would create tools for agencies, publishers, and brands.
Impact Raises $150 Million
Impact runs a partnership cloud. The company targets those who use influencer or affiliate marketing to promote their products. Also, the marketing cloud is for platforms that contain the content for affiliate marketing.
Impact developed the platform for a private marketplace environment. Also, the company was the first to have such product in the affiliate sector. They called it partnerships, but they didn’t create the term. It was their customers that gave their services the label.
The company saw a boom due to the increasing demand for influencer marketing. In 2020, Impact earned $100 million. Also, some of its customers include Lenovo, Uber, Microsoft, eBay, Capital One, Walmart, Disney, Target, and Amex, to name a few.
Affiliate marketing has had an upward trend in recent years. As a result, brands opted to spend some of their online marketing budgets on affiliate campaigns instead of other online advertising strategies. Also, people spent more time online during the pandemic. As a result, brands wanted to engage with their target audience through social media than in the physical world. For instance, they use affiliate marketing when they open a sportsbook pay per head.