Using Affiliate Program Analytics to Optimize Its Performance (Part I)
Do you think that once you begin your affiliate program, recruit affiliates into it, and begin seeing them activate, you can rest easy and let sales fly?
Though affiliate program success is not that simple to achieve, and part of moving it involves observing and analyzing your affiliate program analytics. Affiliate program success has five foundational pillars:
We’ve already talked about the first four pillars on other occasions. So, in this article, we will focus on optimization. It includes analyzing, measuring, and taking measures to enhance program performance.
There are many metrics and chief performance indicators that you can and should watch to assess program performance and management effectiveness. Below are some of the most important ones to focus on.
Key Performance Indicators to Monitor and Analyze
As mentioned above, recruiting new affiliates is chief to program performance. But not all affiliates are the same. Some of them operate quality websites and have a marketing approach alike or related to yours. These are the ones you want to concentrate on. To recognize them and discover which recruitment strategies work best, you have to look at:
- The number of newly recruited affiliates over a specific period (weekly, monthly, quarterly, yearly, etc.)
- The particulars of the websites your newly recruited affiliates run (traffic rank, niche, demographics, etc.)
- Affiliate type (content, video, coupon, cashback, paid search affiliates, etc.)
These metrics will let you assess and enhance the success of your affiliate recruitment campaigns. For instance, they will let you gage which recruitment technique brings about the biggest number of suitable affiliates. This way, over time, you can concentrate on those processes and avoid using resources in other recruitment procedures that bring you little or bad-quality affiliates.