Affiliate marketing is experiencing explosive growth. Chances are, your brand is already involved in performance marketing campaigns with affiliates, in which your brand pays a commission to referring companies that drive incremental traffic and sales.
In fact, a recent survey of more than 1,200 senior marketers showed that 95% of leading retail, travel and personal finance brands had performance partner programs in place. Further, a variety of industry studies show that the affiliate channel is experiencing double digit growth.
So, if sales and trends are so strong, why focus additional attention on partnership? After all, many marketers have traditionally viewed affiliate as a set-and-forget channel. But growth opportunities in this arena are too big to ignore. Affiliate now offers more opportunity than ever before. Research shows that one in four brands are driving 30+% of their TOTAL revenue through partnerships. Those numbers don’t arise from a set-and-forget approach.
Commissions are a huge point of leverage for aligning partner interests to your own. If you want to achieve greater growth, it pays to work directly with your partners to setup diverse commission strategies that align to your specific goals. Access to valuable transaction and customer data is essential to utilizing these strategies, but the process for collecting and utilizing that data is relatively straightforward if you know what you are doing.
Five Powerful Approaches
This eGuide discusses five creative approaches to commissioning you can utilize to accelerate the growth of your affiliate program. We’ll review why each concept can be beneficial, explain how to implement, and discuss what data will be necessary to achieving success.
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