It’s no secret that partner marketing has “arrived” for leading retail brands. Studies in the US, EU, and APAC show that performance partnerships now drive 10-20% of sales for most large retailers. Further, the efficiency of the channel is well established. A recent VentureBeat study places partner marketing at the top of the ROI figures for digital marketing tactics. Given those figures, it makes sense that retail marketers are looking to drive further growth from this channel.
This guide is written by Jim Nichols, CMO of Partnerize.
As CMO for a leading global partnership management tech platform, I know how much pressure is on partner marketers to maximize success in the channel. You must constantly improve immediate results while also articulating and creating a vision to grow the partnership space. Here are the ten concepts:
1) REPLACE PIXEL-BASED TRACKING WITH DIRECT, SERVER-TO-SERVER INTEGRATION Partner marketing growth is best served by comprehensive measurement. By moving to a server-to-server versus browser-based tracking methodology, and ensuring comprehensive mobile measurement, you ensure more accurate and comprehensive partner marketing growth data and attribution.
2) TRACK PARTNER TRAFFIC AND CONVERSIONS ACROSS EVERY DEVICE Cross-device measurement is absolutely essential today. In many regions of the globe, mobile devices ARE the Internet, so it makes sense to ensure that your marketing programs in mobile are captured in your data.
3) DEFINE A COMPREHENSIVE PARTNER ACQUISITION STRATEGY Partner marketing program management is often tasked with customer acquisition, so it makes sense to comprehensively consider acquisition as you set strategies for your campaigns.
4) CREATE AND IMPLEMENT A COMMISSIONS PROGRAM ALIGNED TO YOUR KPIS The right commissions strategy is essential for great partner marketing program success and outstanding partner relationships.
5) BEEF UP YOUR DATA COLLECTION AND MEASUREMENT Make sure that your choice of tracking platform and methodology capture all of the information you need. Think about where additional insight -- into things like what is being purchased, for example, will help drive additional value. Marketing automation has gotten quite robust in recent years. Make sure you can get all the data you need on your programs.
6) FOCUS ON REAL-TIME INSIGHTS FOR OPTIMIZATION Partner marketing strategy is best served with real-time access to partner and customer data and insights for optimization.
7) WORK DIRECTLY WITH YOUR MAJOR PARTNERS In a world of limited marketing resources, it's important to leverage your biggest potential sales and revenue drivers to their fullest. Your biggest partners are the ones that can convert the most potential customers.
8) TREAT ALL YOUR PARTNERS RIGHT Treat partners right and you will be rewarded in spades. Treat them wrong and you won't be successful. It's that simple.
9) TEST TEST TEST Constantly test new approaches to affiliate and strategic partnerships to identify great strategies for the future.
10) AVOID SET IT AND FORGET IT Actively manage your partner and affiliate marketing campaigns for best results.
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