Is My Affiliate Program Performing Well? How To Tell

You have your affiliate program up and ready to go, your affiliates are working hard, and things are going great—or are they?

How can you know for sure that your affiliate program is really performing at its best? How do you determine whether or not you need to change your onboarding strategy or seek new affiliates?

In this post, we’ll help you figure out if your affiliate program is really as successful as you think by cluing you in on a few key things to look for and offering up a handful of tips on how to improve.

Managing your affiliate program is easy with Affiliate Royale. Try it out for yourself today!

Why Is Tracking Affiliate Program Performance Important?

Measuring performance is a vital part of your success as a business owner. Setting goals in your business is a great way to track your progress and highlight key places where your small business can grow and develop. 

After all, the last thing you want to do is waste valuable time, energy, and money on campaigns and other marketing efforts without any sort of strategic goal or benchmark to reference.

Accurate, Updated Website

Is your website accurate and up-to-date? There’s nothing worse than an affiliate program website that features outdated information. If visitors go to your website and notice that your information hasn’t been updated in a long time, or your site seems neglected in any way, potential affiliates will be turned off and not want to work with you.

Read More: How to Choose the Right Keywords for Optimizing Your Website’s Content

Affiliate Program Quality

An affiliate program is only as good as the entities supporting it. This is not to say that you’ve got to have a program full of top-tier affiliates, but are those affiliates you do have in your program performing to the best of their ability? 

Be sure to pay attention to your affiliates and monitor their behaviors. Do you notice a number of inactive affiliates? How much traffic is each affiliate generating? These are important questions to ask and analyze on a regular basis. 

Read More: 3 Ways That Micro-Influencers Can Benefit You

Promotion Performance

To achieve success, affiliate programs require time to plan, schedule, and implement promotions together with affiliates. By tracking click-throughs to your website and measuring online sales, you’ll be able to determine how well your promotions are working.

You’ll also begin to understand what percentage of each promotion’s progress can be attributed to your affiliates. This information will give you important insight into the value each affiliate is bringing to the table. 

Read More: 10 Ways to Prepare Affiliates for Online Promotions

Affiliate Communication

Another excellent way to ensure your affiliate program is performing at its best is to pay special attention to how you’re communicating with the individuals in your program. How often do you reach out to your affiliates? Do you offer personalized communication? How is your support team performing? Do you give your affiliates an adequate amount of information to properly promote your online business?

Read More: 4 Strategies for Keeping Your Affiliates Happy

Continuing Education

There’s nothing more powerful than a company whose culture is based on a desire to constantly try and learn new things. Combine that with affiliate partners who seek to do the same, and you have a recipe for success. 

How often are your company and its affiliates taking time to learn about the latest news and trends in the field? Are you helping your affiliates continue to grow in their knowledge of your business and industry? Addressing these areas of education will go a long way toward strengthening your business over time.

Read More: Why Industry Knowledge Is Vital for Affiliate Programs

KPIs to Keep In Your Back Pocket

KPIs, or Key performance indicators, are measures of performance that can help you evaluate the success of a specific campaign or your business as a whole. Carefully tracking KPIs allows you to determine how healthy your company is and how your efforts are helping or hurting its progress.

Here are a few KPIs to keep in mind as you grow your affiliate program:

  • Click-Through Rate (CTR). Your CTR is the number of clicks on links or ads generated by affiliates on your website. This KPI helps you see which affiliates are actively working and how effective they actually are.
  • Conversion Rate. The conversion rate refers to the sales your business is achieving from affiliate-generated traffic. This metric helps you track the success of your promotions.
  • Cost Per Click/Lead. The cost per click is the average amount of money you spend each time your affiliate generates click-throughs to your site or each time affiliate traffic generates a lead.
  • Customer Lifetime Value (CLV). This KPI helps you understand how valuable your long-term customer relationships are and how effective your affiliates are at generating these types of relationships. 
  • Churn Rate. Your business’ churn rate measures the number of customers who visit your online business’ website but don’t wind up becoming repeat customers or who cancel services or memberships. An easy way to calculate churn rate is by using this formula: Customers Lost in a Given Period / Original Number of Customers at the Start of the Period = Customer Churn Rate.

The Takeaway

Your affiliate program depends on the success of your affiliates. That is, for your business to do well, your affiliates need to do well. Two of the best ways you can help them succeed is by paying attention to key performance indicators and doing your part to make sure that they have what they need to be successful at their part.

Tracking your affiliates’ performance, keeping up your end of the bargain by staying in contact with them, offering plenty of resources, and giving your affiliates a great product to promote are all simple but powerful ways you can keep your business moving forward.

Create your own affiliate marketing program quickly and easily with Affiliate Royale – get started today!

Enjoyed this post? Be sure to check out our blog for more great content! You can also keep up with us on Twitter.

How to Convert Customers Into Loyal Affiliates

Bringing in new affiliates means opening up your business to an even larger pool of customers. Whether you’re new to affiliate marketing or a seasoned professional, finding people to promote your business is hard work, but it can definitely pay off in the long run.

If your business has existing customers, you already have a group of people you can look to as potential affiliates. Think about it: your customers already have experience with your online business, and they know the value your small business brings to the table. Why wouldn’t they be the ideal people to help you promote it?!

In this post, we'll give you a few tips on how to convert your customers to loyal and productive advocates in your affiliate marketing program.

Get The Word Out

The first step toward bringing current customers into your affiliate program is to let them know you have an affiliate program in the first place. Here are a few tips on how to promote the program to your customers:

  1. Use Emails. Send emails out to your customers to let them know about the affiliate program and what they can get out of it if they join.
  2. Promote on Social Media. Use your social media profiles to let your customers and other loyal followers know that they can become affiliate partners with your online business.
  3. Incorporate Banners. Use banners on your website to emphasize your affiliate program, show people how to join, and show them the benefits of joining.
  4. Blog Posts. Write blog posts to announce your affiliate program. You can also use your blog to explain how the program works. Include CTAs within the posts to entice customers to join.

Offer Plenty of Details

Another great way to persuade customers to join your affiliate program is to be completely transparent, and give plenty of details to help them make their decision.

Include information such as commission rate, the purpose behind your program, types of content affiliates will be expected to use, and requirements for the program: Do customers need a certain amount of followers? Do they need to have a certain social media platform? Will there be an approval process for them to join?

Offer Stellar Customer Service

When you start an online business, you quickly learn that customer service is vital to the success of the business. For many customers, great customer service is the factor that helps them decide whether or not to work with your company.

Not only will great customer service get customers on board in the first place, it'll also be another example for your affiliates to use when they refer your company to other customers.

Offer Freebies and Surprise Deals

It’s no secret that all consumers love discounts and free stuff! Customers who have not yet decided to make a purchase with your business are more likely to do so when a coupon is involved. And customers are more likely to make another purchase when a discount is involved.

Not only does this increase your business’ revenue, but it's another excellent way to get people talking about you and how awesome your business is. And that means more potential affiliates.

Personalize Your Business

There’s nothing more attractive to customers than a business that knows who they are. Consumers are naturally attracted to brands that offer a personalized feel and show that they genuinely care about their customers.

Recognizing special events, such as customer birthdays and business anniversaries, and including customers' names in emails are all excellent ways to add a personal touch.

Actively Ask for Feedback

You can’t read minds, so make sure you have methods in place to get feedback from your customers. Asking for testimonials, offering surveys, and having suggestion boxes are great ways to see what your customers have to say about your business and keep the lines of communication open.

And if your customers see that you are asking for feedback and acting on that feedback, they're more likely to stick with your business and want to tell others about it. 

Analyze the Data

The importance of analytics can't be emphasized enough. Any time a customer makes a purchase with your online business, you should have a system in place to see how they found your business, what pages were viewed, which products or services were purchased, and more.

You can use this information to understand the best ways to target and recruit customers. You can also use it to convert them into affiliate partners and help you improve your customers’ experience with your business.

Segment Your Lists

As your email list grows, you'll quickly find that you need segmented lists to serve different purposes in your business. You can create lists for subscribers by subscription level or purchase amount, or you can base lists on how often they interact with your customer support team.

You can use these lists to customize your messaging and cater to your customers on a more personal level, based on their interactions with your small business.

Reach Out

Last but not least, reach out to your customers personally. Watch for interactions with online mentions of your business, and make sure to engage.

Let’s say you wrote a blog post about your affiliate program and created a Click-to-Tweet link for your readers to share on social media. Any time a customer tweets that message out, be sure to like their Tweet and thank them. You can even encourage them to join your affiliate program.

Not only will they be impressed that your company actually noticed their Tweet, but they’ll be more likely to look into your affiliate program and join your team.

Gathering affiliates for your program requires some elbow grease, but it isn't impossible, especially when you already have customers actively participating in your business. We hope you'll keep these tips in mind and build an affiliate program that will take your business to new heights!

Enjoyed this post? Be sure to check out our blog for more great content! You can also keep up with us on Twitter.

10 Ways to Prepare Affiliates for Online Promotions

In your online business, you take a lot of time laying out plans for your upcoming sales or campaigns. So when you get your affiliates involved, the last thing you want is for them to be distributing off-brand or inaccurate information about your promotions.

Bad representation by your affiliates can not only hurt sales, it can also cause potential customers to lose trust in you and even damage your relationship with your affiliates.

Thankfully, we have a few tips that we're sure will help you to better prepare your affiliates for a successful marketing campaign!

Make Sure Your Affiliates Have All The Details

The first and most important thing you should do to prepare your affiliate network for a promotion is to provide them with detailed information about that campaign.

Send them information about what you're promoting, the meaning behind your campaign, how long it will last, its target audience, and so on. Your affiliates are creative and smart and have their own great ways of promoting your business, so ensuring that they have all of the information possible is one of the best things you can do to ensure success.

Further Reading: How to Create a Resource Hub for Your Affiliate Program’s Associates

Remind Affiliates of Your Brand

When you're detailing your sale or promotion, be sure to include information for your affiliates about your business’ brand and how important it is to maintain brand identity.

One major part of your affiliates’ role in your company is to promote and emphasize your brand to customers. So you want to make sure that the representation they are providing — whether it be in blog posts, social media, or on their YouTube channel — is accurate and appropriate. 

Further Reading: How to Use Branding Effectively on Your Affiliate Site (5 Easy Methods)

Give Affiliates Useable Ideas

You’ve taken the time to plan out your promotion, and you know the vibe and appeal you're going for. However, your affiliates don't, and sometimes simply writing out your plans and expectations isn't enough.

Give your affiliates examples of ways they can promote your online business using images, sample blog posts, and pre-made banners to help them create a promotion that will benefit both them and you.

Further Reading: 5 Tools to Help You Create Banner Images for Your Affiliate Ads

Give Affiliates Swipe Copy

Another great way to prepare your affiliates for promotions is to offer them swipe copy they can use in their promotions. Swipe copy is content that your affiliates can copy and paste or, ideally, use and alter to implement in their affiliate promotions.

Not only does this help your affiliates save time and create content more quickly, it also helps ensure your affiliates stay on brand and hit the high points of the promotion. Swipe copy helps your affiliates succeed, and it gives you security and peace of mind in the long run.

Further Reading: How to Create an Educational Guide for Your Affiliates

Make Good Use of Time

Timing is everything when it comes to promotions and marketing. If you have a sale or special offer, or you want to inform customers of a new product or service, ensuring this information is delivered to current and potential customers at the appropriate time is critical.

Affiliates appreciate receiving notice of the promotion at least a month ahead of time so they can prepare their copy, take or source photos, and plan out their content strategies. Being wise with timing can factor hugely in the success of your affiliates and your promotion.

Further Reading: Why Affiliate Marketers Should Focus on Quality Over Quantity

Open the Lines of Communication

The last thing you want to do is give your affiliates information and then totally shut down. Doing this is not only rude, it won't benefit your campaign AT ALL.

Keep the lines of communication open between you and your affiliates. You can do this by allowing them to email you and/or your affiliate support team, offering support documents and videos, or even opening a Facebook group or affiliate message board so your business and other affiliates can all come together in one space and help each other out.

Further Reading: How to Promote a Positive Relationship With Your Affiliates

Offer Incentives

Who doesn’t love a good incentive? Your affiliates are already aware that any time their link gains a sale they'll earn a commission. But what if you added to that reward?

Affiliate programs, such as that of Swagbucks, not only offer regular commissions, they also offer extra rewards for top referrals, or turn the promotion into a game where individuals in the affiliate marketing program can team up to participate in promotions and earn bonuses.

Your affiliate program is supposed to be a way for your affiliates to earn passive income, so make sure it's worth their while and something they enjoy being a part of.

Further Reading: 3 Ways to Reward Your Affiliates

Conclusion

Marketing and promotions are critically important to your online business. And involving your affiliate program in your plans can stretch your efforts in ways you can't on your own.

Remember, affiliates help you reach audiences that your typical marketing efforts may not reach. They also offer a human touch and a relatability to your campaigns that customers will appreciate.

We hope these tips will help you to better prepare your affiliates for your promotions and build profitability for your business!

Enjoyed this post? Be sure to check out our blog for more great content! You can also keep up with us on Twitter.