In affiliate marketing I expect to see growth especially in my program for 2017. I can’t hope for it or propose growth — I must expect it. E-commerce is here to stay, Forrester sees the growth potential in the affiliate industry estimated to grow $10 billion by 2019.
Growth is a hard metric, one everyone in the company can easily see at a company meeting and the hardest to accomplish in some cases. So my strategy regarding how I grow the program I’m responsible for will vary from others. The driving forces behind growth in the affiliate industry I feel will be the following key items below.
Meet, Greet & Build
Grow stronger partnerships with emerging publishers that make the most sense for your brand. This sounds like a “DuH” statement but it’s one we forget. Never stop recruiting. Quantity Vs. Quality is the game changer here, having 100 Quality partners is more efficient than having 39,000 partners that aren’t driving sales. So choose your partners wisely. Set a recruitment strategy in place and challenge yourself to find the next big revenue driver!
Are you social?
In today’s world people communicate online through wall posts, Like buttons and Comments. Its easier to tell your friend about the new great book you read by sharing it on Facebook especially if you get something in return (this is where the affiliate world comes in). Companies are selling more products online and sharing features about their products through social media, according to the 2012 AffStat report, 60 percent of affiliates use social media to drive traffic, second only to search engine optimization. Affiliate Marketers and Social Media should combine forces and work together for the greater good. Since sharing and engagement are the foundation it only makes sense that affiliate programs test a social initiative. See the facts on how an average order breaks down in each platform.
High Five your Other Channel Managers
Ever heard, Team work makes the Dream work — a good friend of mine used to always says this back in the days when I was a bartender at the Cheesecake factory. Same motto applies on a marketing team. Cross marketing channels makes the pot of gold grow larger. Affiliate promotions drive traffic, email captures new customers, Paid search drives more traffic, and it continues. A tighter integration of email, PPC, merchandising and affiliate channels only expands the weather of knowledge and presents a more consistent campaign.
Is your company up to speed on emerging technology trends and best practices when it comes to online shopping? Consumers are buying on their phones, tablets and hand held devices. Are you ready to handle the traffic and give the shopper a great experience no matter what device they are viewing? Retail is projected to the fastest growing category in mobile according to Forrester. Mobile is where we are headed and online shoppers are leading the way. I know my company is seeing this change and making big plans to be ready for whatever is in store.
There are a ton of best practices or strategies that work to leverage affiliate marketing to make it work for your program. Expect to see tactics change but make sure you are keeping up with the times.