Affiliate marketing’s new approaches
Real-time data and personalization increase conversions.
While many marketing technology tactics have changed the past two decades to reflect a faster-paced society and advances in technology, the use of affiliate marketing channels has remained relatively the same in terms of system and structure.
The straightforward, last-click attribution model for coupon and cashback partners in affiliate marketing remains immutable to change, but that stability has been a benefit since the COVID outbreak as it remains a dependable, if outdated, system.
So how can affiliate marketing channels be enhanced? Jaconi thinks it starts with how affiliate marketing channels are operated.
By reviewing affiliate marketing campaigns incrementally, marketers are able to identify if buyers are first-time, lapsed or existing customers, and modify the campaign to the segments that are producing the most conversions. With data dictating where and how to maximize investment, marketers can have more confidence in increasing budget spend, and are able easily to show were the campaign value is originating from.
Affiliate automation and personalization
The ability for affiliate marketing as a whole to become more agile and automated based on real-time data is also in Pepperjam’s sights.
We recommend that marketers base affiliate marketing campaign strategy on buying behavior trends and origin of engagement more than individual demographics. Industry events and conferences, as well geographic-based outreach campaigns can often be the foundation of successful affiliate marketing campaigns. Those origins of successful engagement should dictate future buying strategy, more than solely focusing on individual demographic outreach.
Creating automated content for the segments that are converting can be the product of incremental campaigns using real-time data.
Changing for the better
More members of senior management and executives will pay attention to affiliate marketing in the near future because of its high ROI. This means marketers must be ready to show direct results to the bottom line as well as the flexibility to modify campaign targets based on real-time data and which segments are actually converting.
Affiliate marketing may see an increased presence in marketer’s budgets in upcoming years as predicted, and by making these new enhancements to your affiliate marketing program brands have quicker ability to scale to match a sudden growth in consumer demand. By reporting the revenue generated by being able to answer the demand, your executive c-suite should also quickly become fans of affiliate marketing.