How Brands Can Use Affiliate Marketing to Increase Their Marketing ROI (Part I)
Getting a good return on marketing investment: It keeps plenty of people up at night. How will the money spent on that marketing firm convert into sales dollars? How will that big advertising campaign that cost a million impact my brand? For most marketing initiatives, deciding ROI is an unpredictable waiting game with no decisive outcome.
There’s one marketing model that plays by another set of rules. Though, rules based on paying for performance after results have been driven. Affiliate marketing once thought as a shot in the dark, is driven today by intelligent technology, transparency between partners, and compensation tied to measurable and specific results.
That said, a thriving affiliate program necessitates the right experience and partners. Regardless if you’re looking to begin an affiliate program or take a current program to the next level, you must have a strong team working with you. Here are the things you need to make sure you’re driving the affiliate ROI you want:
Unless your business has the resources to create a team of numerous people with extensive affiliate marketing experience and skills, hiring an agency is the best choice. Agency marketing pros are knowledgeable at managing the multifaceted complexities that come with growing and building a high-performing program.
Be sure you’re clearly looking at the agency’s setup, making sure it’s based on performance. Make sure it puts its money where its mouth is. If it doesn’t come with it in the short term, chances are high it may not be able to meet long-term expectations.
The affiliate space has expanded well beyond coupons and deal partners. To drive incremental revenue on a performance basis in your program, consider working with publishers who are advanced in e-commerce technology, including artificial intelligence and website integration.
Regardless if you’re new to affiliate marketing or just need to step up your game, checking off these boxes will help you create a strong affiliate marketing program.