Thinking of becoming a beauty affiliate? Your timing couldn’t be more perfect. With the beauty and cosmetics industry continuing to exceed growth expectations year after year, this could be a highly lucrative move for you.
So your love for makeup and skincare won’t be the only thing that’s keeping you there. And for brands in the industry, working with beauty affiliates could be one of the smartest marketing moves right now.
Here are some of the reasons why now is the perfect time to become a beauty affiliate (or partner with one).
Contrary to popular belief, skincare and beauty products are no longer just for women. Men’s personal care products have also become increasingly popular in the beauty and skincare industry.
In fact, Technavio predicts that the men’s skincare products market will potentially reach USD 1 billion during 2020-2024. It estimates the year-over-year growth rate for 2020 at 2.55%.
On top of this, gender-neutral products have taken the industry by storm, owing largely to the changing perception of consumers. Men are no longer looking for products specifically for their gender. The percentage of men looking for gender-specific skincare products decreased from 16% in 2016 to 10% in 2019.
This means you have more people to target — whether you’re a brand or a beauty affiliate. But consider doing market research to get an even better sense of your target market.
Luxury beauty products have by far the best commission rate for Amazon Affiliates, which is saying something. You can earn a fixed commission rate of 10% for this category, while the next highest commission rate is 5% for digital music and video and physical music.
Other beauty-related affiliate programs typically offer commission rates ranging between 5% and 15%. So you get the idea — the beauty category is very profitable for affiliate marketing.
With social media at your disposal, it’s become a lot easier for affiliates to promote products. Social media not only influences how beauty consumers discover new products but also their purchase decisions.
A Facebook-commissioned study found that 40% of makeup buyers and 37% of skincare buyers discover new products through the Facebook family of apps. Plus, 44% of makeup consumers would make a purchase based on a social media post.
And as a beauty affiliate, you could use your social media posts to inspire beauty and skincare purchases. For a bigger impact, try applying some social media marketing best practices to market your content and build a name in the industry.
For beauty and skincare brands, this might be the perfect time to partner with influential beauty affiliates and launch a powerful influencer marketing campaign.
Note that social media isn’t the only way to promote affiliate products. You can also connect with your audience through blog posts and YouTube videos depending on which platforms and formats you’re most comfortable using.
A McKinsey analysis found that makeup sales in the United States have shown a slight decline. But this isn’t necessarily a bad thing because being a beauty influencer isn’t just about promoting makeup products. Skincare and haircare products are also fair game, and these segments seem to be thriving.
The same McKinsey analysis saw that sales for bath-and-body products jumped 65%, while hair coloring products had an impressive 172% increase in sales. Nail-care products also experienced a 218% increase in sales.
As a beauty influencer, you could always expand to these thriving niche segments within the same industry. Note that some affiliates will even cross the boundary between different industries. So you might have influential personal stylists who also promote beauty products or fitness influencers promoting clothes.
With consumers becoming more eco-conscious by the day, there’s also a growing preference for products that are gentle on the environment. This means that the natural cosmetics and organic skincare market is going to be huge.
In fact, Statista predicts that the global market for natural cosmetics and personal care products will reach USD 54.5 billion by 2027.
So for the environmentally-conscious affiliate, you have the perfect opportunity to promote beauty and skincare products that align with your values.
If you’re passionate about beauty and skincare and you want to monetize that passion, becoming a beauty affiliate is the perfect choice considering the current landscape. So get ready to start building your personal brand and make money from promoting affiliate products.
And for brands that want to promote beauty and personal care products, working with affiliates can be an excellent marketing decision. Consider working with a Fiverr freelancer to develop a successful affiliate marketing program that benefits both you and the affiliates you work with.