Recruiting the right partners is only the first step in opening a successful affiliate program. Once you have strong relationships with your affiliates, you need to monitor and track their performance. Visibility into the effectiveness of your affiliates and your strategy will make or break your affiliate program. Key metrics to track include total affiliate sales, sales per affiliate, total payout, gross margin, number of new affiliates, and number of affiliates who have left the program. (Pro Tip: go after them with special offers to try to get them back). You should also compare average sales statistics between your affiliate program and your sales team because this will give you a better understanding of how effective your affiliate marketing strategy is.
Ask yourself these five questions:
Who is my top affiliate?
Why is this affiliate so successful? How is the approach different from others?
How did I find this affiliate?
Can I find more affiliates with similar backgrounds or niche content?
How can I help my other affiliates improve and replicate his/her/its success?
Remember to be in regular contact with the affiliates Philippines Photo Editor in your program. Communication often happens via email and serves to provide them with everything they need to be successful. Your emails should include any new rules or regulations, insight into your brand, and usable content such as relevant hashtags, marketing campaigns, pre-made social media posts, infographics, blogs, and more.
Affiliate Marketing Channels: What do Affiliates Actually Do?
Affiliate marketers aim to engage their audience enough in order to drive sales to your business. However, not all affiliates use the same advertising techniques. The methodology changes depending on the affiliate’s following and the product he or she is promoting.
What do Affiliates Actually Do
There are five main channels that affiliate marketers use:
Influencers: This type of affiliate marketing is known as influencer marketing. It is when a person who is relevant to your product and has a large audience (typically on social media or a blog) promotes your brand. Influencer affiliate marketing has many sub-categories including macro-influencers, micro-influencers, sponsored ads, organic posts, and more which we will cover in a future blog.
Bloggers: Individuals who have a large following can also be a great source of traffic to your site. They usually have sites with strong SEO and can improve your product’s ranking on search engines (by adding links to your website, which signals crawl engines that your content is relevant to their followers). This method usually works well if you provide them with a sample of your product so they can write comprehensive reviews containing links to your website.
Paid search-focused microsites: Microsites are distinct mini-sites that branch off a larger organization. They typically have very focused content, catering to a specific audience that allows them to use straightforward calls-to-action (CTAs), ensuring higher conversion rates.
Email lists: Email lists are a classic affiliate marketing strategy that still works. This method is fairly simple – your affiliate uses their email list to promote your brand and send links to your target audience in a personalized way.
Large media websites: Last, but not least, is large media websites. These sites are a bit of a numbers play. They reach millions of people daily, promoting brands on banners and with relevant links. This strategy guarantees lots of exposure to your target audience and usually results in a high conversion volume.