A strong return on marketing investment keeps many people awake at night. How does the PR company’s money translate into sales dollars for your business? How will a massive advertising campaign that cost millions of dollars affect your brand?
The process of determining ROI for most marketing initiatives is an unpredictable wait game without a guaranteed outcome.
One marketing model is different. You are paying for performance after achievements of results. Affiliate marketing is no more a risky endeavour. Today, with the advanced technology, transparency among partners, and compensation tied to specific, quantifiable results.
However, the right partners and experience are essential to running a successful affiliate program. If you are running affiliate programs in the gaming, beauty, health, insurance, software, finance niche, It would be best to have a solid team to help you start or grow an affiliate program. These are the five tips you need to drive the affiliate ROI that you desire.
If your company does not have the resources or the time to hire a team with affiliate marketing experience and knowledge, an agency may be the best choice. Agency marketers have the expertise to handle the many complexities involved in building and growing high-performing programs.
You should be able to see the agency’s structure and ensure it is working on results. Robert Glazer, CEO of Acceleration Partners (a global affiliate marketing company), gave a speech. His book, “Performance Partnerships,” focused on aligning affiliate programs with performance.
It is easy to fall into the trap of working for a company promising sales. But make sure that it puts its money where it mouths. It might not meet its long-term goals if it fails to deliver in the short term.
Scalable Networks or Platforms
Regardless of whether they are SaaS or affiliate networks, all affiliate marketing programs require a technology platform. If you have a global brand, your platform must be able to support your growth plans. It should also offer the right features and geographic coverage.
Awin is one example of such a platform. This firm offers technology to address industry problems such as third-party tracking, data light monitoring, attribution, and advanced commissioning.
These data types were not available in years past, but technological advances have made it possible to identify what works and when and why. This data is valuable for your affiliate program and for learning what works and how to apply it to other sales channels.
Partnering with other players focused on building loyal customers is a great way to scale your program quickly. Ebates is a significant player in the loyalty industry, and it operates on a performance-based basis. Ebates is expanding its market and broadening its categories beyond retail.
It now offers cash-back rewards for travel, dining, and ride-sharing. It is essential to decide if these partners are going to create loyalty or attract the wrong customers. It’s possible to build a loyal customer base crucial for long-term brand survival if you choose the right loyalty partner.
Customers spend more time on mobile apps and mobile devices, which is why it’s essential to have affiliates who are leaders in the mobile ecosystem.
Ibotta, a U.S. app that connects consumers with lifestyle, grocery and retail brands, rewards them with cash when they buy things they need. The app was straightforward to use when I was waiting in line for customer service after a purchase.
The app took a photo of my receipt and applied the cash to my account. It’s essential to find partners that have created a mobile experience that is easy and accessible for customers, as there has been a lot of growth in mobile users.
The affiliate market has expanded beyond deal and coupon partners. Partnering with publishers experts in e-commerce technology such as deep website integration or artificial intelligence can help you drive incremental revenue.
RevLifter is an example. The company helps brands convert more customers, make incremental sales, and increase conversions by personalizing deals across all marketing channels.
It is available worldwide under a pay-performance model and uses AI to interpret real-time signals from users on-site to deliver the correct value at the right moment to the right person.
These boxes can help you build a strong affiliate program, whether you are new to the field or an experienced marketer. It can be not easy to track ROI when there are so many marketing programs. But the right team will help you get the results you desire.
click here for more interesting articles