It’s no secret that the key to a successful marketing strategy is gathering essential information and taking them into account while planning the next steps. How to do it in affiliate marketing? That’s what we’re here to tell you all about.
What is affiliate marketing?
Affiliate marketing is an effective, yet still underappreciated way to make money online. It’s based on promoting popular brands on the Internet and making money when someone uses your recommendation, and the best part is that anyone can do it from the safety and comfort of their own house. More and more global companies create their own affiliate offers, which makes it even more consider-worthy when it comes to looking for an online job. The affiliate marketing market is estimated to grow by 10% every upcoming year, so it’s a great time to get on board if you haven’t done it yet.
Here’s how to do affiliate marketing step by step:
Step 1. Register at the best affiliate network for your needs.
Step 2. Choose a global brand you want to promote.
Step 3. Generate a unique affiliate link to ensure that all the money will go straight to your account.
Step 4. Create exciting content, grow your audience, and promote your affiliate links online. You can use social media (Twitter, Facebook, Instagram), your websites, or apps.
Step 5. Get paid once someone uses your link to buy a product, download an app, etc.
3 successful ways to analyze affiliate marketing campaigns
1. Use affiliate network reports
Affiliate networks usually give you access to some reports on your leads. This should be the primary source of all affiliate marketing data. Why? It’s free, available in the user’s panel, and it comes straight from the affiliate offers provider. With the market growing, more and more affiliate networks provide a broad selection of information. It’s the most critical part of your analysis because it tells you if your affiliate links are working.
Track your typical daily, weekly, and monthly average performance. Check the number of your leads, clicks, and sales regularly to get a sense of your average activity. You can verify if your campaign is effective and what needs to be changed. And if you have any trouble with obtaining or analyzing the data, ask your affiliate manager for help. It’s always a good idea to ask at the source.
Compare marketing channels you use to promote your offer and check, which ones bring you the most traffic. Are the clients coming to your offer through Facebook, banner ads, online forums or maybe your mailing activity? Take into consideration the type of programs that work well on specific platforms. Once you’ve got the data, you can optimize your online activities and focus more on mastering your campaigns. Running a well-optimized campaign will bring you more profit, and since affiliate marketing is all about earning money, you should consider using the reports during your journey.
Make sure to keep track of the type of customers your campaigns attract. Are they new or recurring? What is the average lifetime value of your new clients? How many products do they typically purchase and through which channels? Most affiliate networks provide you with this type of information, and you can use it to check which affiliate programs bring you a new audience. Moreover, remember to build the relationship with your customers. Provide them with the new content or use the one created earlier to stay in touch, and not spend your whole time on creating a new one. Content recycling is still a great way to engage your customers if you’re in possession of relevant and evergreen content.
2. Track performance by device
In 2022 a huge trend is creating a multi-device affiliate marketing campaign, that integrates many channels of promotion. When Internet users choose to use your recommendation, which device do they mostly use? Tracking performance by the device can give you some crucial info about your results and help you plan your next steps.
Check if there are any offers, which get high results when it comes to leads from mobile devices. If you want to focus on this type of traffic, implement such tools as push notifications or live chat. Keeping an eye on the type of devices your audience is using can also help you detect any problems you may have with your site and quickly deal with it. To minimize the risk of possible issues, make sure that your website is fully responsive and it adjusts to the device automatically. It’s a first step to run a well-performing multi-device marketing campaigns.
3. Set up a fraud detection program
A fraud detection program is a key element of your affiliate marketing analysis. It provides you with information about the quality of traffic your links generate. A fraud detection system also allows you to verify if your site is visited by real Internet users or by non-customers, such as bots. Fraud detection services are usually available through a website plug-in or software you download to your computer.
Nowadays, bot-generated traffic can be a big issue for affiliate marketers, so fraud info is a crucial part of data, that you can’t do without. Instead of getting real clicks and sales, it’s common that you get fake ones, coming from uncertain sources, that cannot lead to any real income. What’s more, it disturbs your data and compromises your ability to properly analyze your customers. It’s better to have less good quality traffic than to allow bots to visit your site.
What to do with the data?
Make changes to your campaigns
Pay close attention to the data you’re collecting. It’s not enough to just gather the information, it’s the analysis that will really help your marketing strategy. When deciding what to change in your campaigns, take into account Key Performance Indicators (KPI). Which campaigns bring you the most income? What type of clients are attracted to your offers? Which sources bring you the biggest amount of traffic? Maybe there are some partner programs that don’t work effectively at all, so the best solution is for you to drop them. All of those questions can be answered only through analyzing your affiliate marketing data.
Fix all problem areas
Being up-to-date with your affiliate marketing data allows you to quickly fix any errors that occur. Maybe your mobile site stops working or a post you published on Facebook got deleted by moderating bots. With a steady flow of current information, you can instantly identify the problem and minimize the harm it does to your campaign. The sooner you react, the sooner you get back on track with your earnings.
Create a long-term strategy
When forming a long-lasting strategy for your affiliate marketing campaigns, the information you’ve collected should be your main point of reference. Of course, you need to take into account seasonal trends, as they play a huge role in the market in 2022, but the longer you systematically gather data, the easier it is to create an informed and effective marketing campaign. When it’s time to plan a new quarter or month, write down all the major insights from previous campaigns and take them into account.
Analyzing your affiliate marketing campaign is a crucial part of any successful strategy. If you want to increase your income and make your campaign foolproof from fraudulent transactions and technical errors, the only way is to set up an effective data analysis tool and pay close attention to the results.
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