In part one of this article, 3 Best Practices For Affiliate Marketing Success, we covered the first three of six affiliate marketing best practices (Recruitment, Activation and Compliance Monitoring) along with the need for day-to-day management to ensure revenue and acquisition targets are being met.
In this follow up, we will continue to follow the framework of the previously established 4P’s (Plan, Prepare, Promote, Protect) with a focus on the following final three best practices to ensure performance marketing success:
- Program Optimization
- Order Management
Communication with Partners
One of the biggest pain points for affiliate partners is lack of communication from their merchants. From new product offerings to upcoming sales, communicating a calendar of events to affiliates is highly beneficial as it, more often than not, results in improved on-site placement and promotion.
Examples of information to be communicated on a regular basis are:
- 3 – 6 month sale/promotional calendar
- New and seasonal product offerings
- Customer data (demographic, geographic, etc.)
Affiliate Program Optimization
There are a number of on- and off-site ways to optimize your affiliate program including the following:
Landing Page Optimization
Ensure that landing pages are relevant and consistent with link/ad content and optimized to convert according to the desired goal.
Creative Inventory Management
Update/expire ads (and be sure to notify partners when new creative is uploaded) on a timely basis and also make sure that global UTM parameters are implemented at the network level for accurate tracking and attribution. Examples of types of creative include:
- Text links
- Banner ads
- Data feed
Research competitor programs for commission payout details, promotional content, ad creative, potential partners to target, support initiatives, etc.
The affiliate channel is an excellent way to increase revenue, but with the potential for significant increases in order count also comes the need for increased monitoring and management. To ensure unearned commissions aren’t being paid out, it’s important to be diligent in monitoring the following:
Review all orders for anything out of the ordinary that may indicate fraud (e.g. excessive $$ value, duplicate orders, etc.).
In addition to fraud monitoring, it’s critical to reconcile your Canceled Orders report with your affiliate transactions to ensure you reverse any pending commission payouts tied to orders that have been canceled. Each network has a set window of time in which reversals are allowed so it’s important to develop a review schedule that adheres to each.
Grow Your Online Sales Web; Increase eCommerce Revenue
No longer limited to a single online storefront, today’s most successful eCommerce retailers enable users to research/shop/purchase their products across a number of touch points. In this fiercely competitive environment, today’s online shoppers are savvier than ever before and, more importantly, only a click away from finding your competitors first. Whether your business is large, small, B2B or B2C, affiliate marketing is a highly cost-effective way to expand your brand’s digital footprint and get in front of prospects first with minimal risk and significant ROI potential.
Check out our website to learn more about how NordicClick can help optimize your affiliate network.