Many retailers are trying to figure out, “how can we increase sales right now?”
The answer may be waiting for you within your affiliate program.
An electronics manufacturer, that JEBCommerce manages, increased their YoY net revenue by 263% by optimizing the affiliate channel– read the growth study here to see exactly how they did it.
Or, keep reading to learn four things to start doing now that will help increase sales within your affiliate program:
Affiliate Communication
Right now, successful affiliate programs are over-communicating. Because everything is changing so quickly, you have to be in constant communication with your affiliates.
This means regular newsletters, phone calls, social media and emails. Communicate the products that are selling well and any consumer behavior insights through all mediums possible.
Affiliates are performing well for the advertisers that are communicating with them.
Identify High Converting Affiliates
Find out who the top converting affiliates are and optimize them. Look through your list of affiliates filtered by the highest conversion rate.
You may find some tier 2, 3 or 4 affiliates in the list that are not optimized yet. Identify those affiliates, pick up the phone and ask, “How can I help you be more successful within the affiliate program?”
This one simple question will change the success of your program.
Review Fundamentals
Confirm that your tracking is working, your look-back window is set correctly, and make sure all the basic things within the program are correct.
When was the last time creative or text links were updated? Do they need some seasonality? Are landing pages optimized?
Read the JEBCommerce blog on specific COVID-19 affiliate strategy and response.
Recruit New Affiliates
A great way to recruit new affiliates, that many advertisers don’t utilize, is within their affiliate network!
Most networks have the ability to do a gap analysis and share with you affiliates that are missing from your program. They also highlight different affiliates in their monthly newsletters, blogs and social media. You should be following them within these channels.
Read JEBCommerce’s article on how to find new affiliates here.
You came to this article looking for ways to scale revenue and are hopefully encouraged that increasing revenue from the affiliate channel is possible – if you focus on communicating often with affiliates, optimizing high converting affiliates, reviewing fundamentals and recruiting new affiliates.
If you don’t have the bandwidth or need help with any of these 4 tips, please schedule a call or send Jamie Birch an email.
Video: Scale Your Affiliate Program Now
Transcript of “Scale your affiliate program now” video:
Hi this is Jamie Birch with JEBCommerce. Today, I want to talk about scale. First, a few things to note – you can still get any help you need by going to calendly.com to set up a time to meet with me or e-mail get help at JEBCommerce.com.
Many prospects and advertisers are asking us, “can you really scale your affiliate program revenue right now?” Yes you can! One of our clients recently increased their YoY growth by 263% – check out the case study so you can see exactly how they did it.
Here are the four things you can be doing to help scale revenue within your affiliate program:
1) Affiliate communication. When we look at the successful affiliate programs and clients during this time, they are over-communicating. Everything changes so quickly, and you have to be in constant communication with your partners. Think of them as partners. How do you build a good partnership? Communication! This means regular newsletters, phone calls and e-mails. Even communicating on social media is important as well. Communicate the products that are selling well and any consumer behavior insight while utilizing all the mediums you have to communicate. Affiliates are performing well for the advertisers that are communicating with them.
2) Identify your high converting affiliates and optimize them. Look through your list of top performing affiliates with the highest conversion rates. You may find some your top producers also have high conversion rates, but you will see some tier 2, 3 or 4 affiliates in the list that you haven’t optimized with yet. Identify those affiliates, set up calls with each and ask, “How can I help you be more successful within the affiliate program?” This one question may change the nature of your program and the success of your program.
3) Review your fundamentals. Confirm your tracking is working, your look-back window is set correctly, and make sure all the basic things within the program are correct. Your creative and text links – when have those been updated? Do they need some seasonality? Are your landing pages correct? You can visit our blog on the JEBCommerce website where we have a section for COVID-19 strategy and response. In that, we talk about all of these things, including the fundamentals. If you have been coached in any sport, what did they always say to get back to? The fundamentals!
4) Recruit new affiliates into the program. One great way to do this that many advertisers don’t know about is within the network! Most networks you’re on have the ability to do a gap analysis to share with you any affiliates missing from your program. They also highlight different affiliates in their monthly newsletters, blogs and social media. Go follow them! You can also look at your competitors. Who is promoting your competitors? Go to Google and test some terms – your competitor + coupon, competitor + promo code, etc. You will find affiliates that you may not be working with.
To sum it up, to help scale your program – communicate often with your affiliates, optimize your high converting affiliates, review your fundaments and recruit new affiliates. If you need any help with scaling your program or any of these four tips, please set up a time with me on calendly.com or send an email.
I hope this video finds you healthy and well. I would love to help you meet and overcome every challenge you have within your affiliate marketing program. Thank you!
