Affiliate marketing has evolved the eCommerce industry for good. It has changed the way brands used to attract consumers to their business. But what is more important is how you run your affiliate campaign. Affiliate Campaign Management defines your relations with your affiliates and how you can improve your productivity by engaging with them.
Who are Affiliates?
Affiliates can be anyone who believes in your brand, enough to sell your products. They promote your product via their affiliate network, online marketing skills, and partnerships with various associations. They can be affiliate marketers, social media influencers, blog writers, or even your friends or family.
What is an Affiliate Program?
An Affiliate Program is an initiative by a brand to involve and engage with various affiliates and establish a relationship with them. It involves assigning links to your website’s landing page to your affiliates, coupon code for your affiliate’s audience, commission per conversion, etc.
The whole process of running an affiliate program is called an Affiliate Campaign.
According to Mediakix, more than 80% of brands use affiliate marketing programs.
Why do you need an Affiliate Campaign for your online business?
Affiliate Marketers will enable you to promote your business on various platforms to generate traffic to your website.
Affiliates will charge you a commission every time they assist you in making a sale.
If your company has high customer retention, paying affiliates per conversion is more beneficial for your business.
Instead of investing more in customer acquisition, you can save by offering higher commission payouts and engaging with high-quality affiliates by expanding your affiliate program.
What is Affiliate Campaign Management?
Affiliate marketing focuses primarily on the affiliates, but Affiliate Campaign management focuses on the whole Brand’s affiliate network.
The primary goal of affiliate management is to make the affiliate programs run smoothly and track the growth of the business. It is a Digital Marketing process that allows you to build a network of affiliates who can advocate for your brand by driving traffic and sales to your brand.
The difficulty of Affiliate Campaign Management depends on the size of the affiliate network. The end goal is to create and establish a solid relationship with your affiliate that creates autonomy within the business as it allows you to focus on brand growth over meeting metrics.
Each affiliate channel/network requires an affiliate manager to track customer acquisition, sales, online marketing, recruiting new affiliates, and various other metrics, ensuring all performance marketing metrics are met.
An affiliate program manager must have deep knowledge of the multiple affiliate management tools and software used to track performance for your brand. Essentially, they should understand how to grow your business by managing affiliate networks.
How to Run an Affiliate Campaign or Affiliate Marketing Program?
To run a successful Affiliate Marketing Program, you need to think holistically on four fronts:
Planning your Affiliate Strategy
Partner With the Right People
Create a trustworthy relationship with well-connected and experienced affiliates.
Set and Track Goals
Allocate a fixed time for cooperating with your affiliates.
Assign tasks to your affiliates that are relevant to your business
Create a commission structure you can offer to your affiliates.
Additionally, set the profit margins your brand should achieve in the short and long term.
Plan what you and your affiliates need to do to achieve your desired goals.
Analyze your competitors
It is highly advised you run a SWOT analysis of your competitors’ affiliate programs. It will help you to understand all parameters in which they are good at and their weaknesses, which you can avoid.
Marketing and Training your Affiliates
Create a Website
Statistics show that conversions are higher when the advertisement comes from an Affiliate’s website.
How Your Partners Can Bring Value
Work with partners to add value and enhance authenticity to create a trusting and loyal audience.
Invest in Paid Ads
Paid ads guarantee a considerable increase in reach, which is directly proportional to conversions. Paid Ads will increase the clicks on your affiliate links, improve conversions, and bump sales and profits.
Ask your affiliates to use multiple channels to communicate with consumers, such as social media, forums, etc., to attract potential customers.
Keep in mind that the content your affiliates use for promotion must be of high quality. Visual appeal is essential in marketing
Investment and Finance
There are two questions you need to answer when managing the finance of your affiliate program:
How much commission to offer your Affiliates?
How to keep generating revenue while paying your affiliates?
You need to know about your campaigns, and for that, you need to track based on financial results, track different campaigns simultaneously, and assign commissions.
Tracking your campaign is the final piece of the puzzle. Now, you only need to analyze the results of all the efforts you and your affiliates have put into promoting your product.
So, how do you manage an affiliate program? There can be multiple answers to it.
With Trackier’s revolutionary Performance Marketing Tool, you can monitor each affiliate campaign in real-time and track your ROI.
You can also measure the individual performance of your affiliates and track their performance. Additionally, you can generate reports instantly, all in a single intuitive dashboard and in Real-Time! You can check our services out by clicking here.
The Bottom Line
Now that you have understood the mantra of running a successful Affiliate Campaign, you are capable of starting your own Affiliate program and boosting your business to newer heights.
Trackier offers an industry-leading Affiliate Management Platform which allows you to manage, measure and optimize performance marketing in real-time.
We offer specific features relevant to your business to maximize your ROI by optimizing the performance of your digital campaigns with our multichannel marketing measurement and attribution solution. Check out our innovative Performance Marketing Tool here.
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