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Waiting to have a good return on an affiliate marketing investment can keep you up at night. When is the money spent on the PR agency going to turn into dollars in sales? Why did the big advertising campaign cost the company a million dollars? Determining the marketing ROI for most marketing campaigns is an unpredictable guessing game with no predetermined result.
There is one advertising model that operates by a specific set of rules, but— rules that are based on paying for success until results are guided. Nowadays, affiliate marketing is driven by advanced technology, relationship accountability, and rewards tied to real, observable outcomes.
That said, the proper expertise and partners need an effective affiliate program. You need a solid team behind you, whether you are trying to launch an affiliate program or bringing an established program to the next level. These are the 5 key takeaways to help you get a boost in your Affiliate Marketing ROI.
Improving Marketing ROI for Tech-Driven Publishers
The space for the affiliate has expanded well beyond coupons and deal partners. Consider working with publishers who are advanced in e-commerce technologies like deep website integration and artificial intelligence to drive incremental revenue on a performance basis within your system.
RevLifter is one example: The company helps brands generate more clicks, incremental sales, and consumers. They do this by customizing offers through marketing platforms for marketers. Accessible worldwide on a pay-performance model, it uses AI to understand real-time signals from on-site actions of the users. Then it offers the right deal at the right time to the right customer. This is how most tech driven publishers improve their marketing ROI.
Affiliate Marketing Using A Scalable Network or Server
All affiliate marketing services require a technology infrastructure to operate on, whether it’s an affiliate network or SaaS server. Your platform should be able to support your growth plans and provide you with the proper features and geographic coverage. Especially, if yours is a global brand.
An example of this kind of platform is Awin. The organization offers technology that helps solve the problems facing the industry. They solve problems such as third party monitoring, data light monitoring, attribution, and advanced commissioning. Those types of data were not available years ago so you can recognize what works as well as where and why with modern software advances, boosting the marketing ROI. Not only is it useful for the partner program but it is also useful for understanding what works so that you can extend your information to various distribution channels.
Consumers are constantly spending time on mobile devices and apps so it’s important to have partners who control the mobile environment within your affiliate network.
Ibotta is one such example of one of these U.S. applications, linking customers to products such as food, retail, and lifestyle, and rewarding them with cash for purchasing stuff they need. When I was in line with customer service after a purchase I used the app fairly quickly. I just took a snapshot of the receipt, and the invoice placed the cashback on my account. It’s interesting to look at partners with a lot of mobile user growth who have established a mobile user interface that makes it simple and open to the consumer.
You will need to partner with players who are focused on building loyal customers and improving their marketing ROI. This can be a good option if you want to scale the system up quickly. Ebates is one of the bigger players in the results based reward market. The brand is aggressively expanding its markets and segments beyond retail to include, for cash-back incentives, travel, dining and ride-sharing.
Whether these types of partners can actually build loyalty or attract the wrong types of customers is crucial to decide. If you choose the right form of loyalty partner, it can lead to a solid, loyal customer base that is crucial to the long-term survival of the brands.
If your company lacks the capacity to develop a multi-person team, then that’s okay. Hiring an agency could be the next best choice. Agency marketers have experience managing the multifaceted challenges that come with developing a high-performance system and growing it.
Be sure that you are specifically looking at the structure of the business to ensure it is performance-based. Robert Glazer, the CEO of Acceleration Partners, a multinational affiliate marketing organization, once talked to me. He wrote a book called “Performance Partnerships,” which focussed on aligning results with any affiliate system.
If you’re new to the affiliate marketing niche, then a good place to start your affiliate marketing journey could be taking the online business builder challenge [Check it out HERE].
Marketing ROI is difficult to handle when you run a herd of marketing campaigns, but the right team will help you take the reins— and get the result that you want.
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