We Can Track reports that businesses receive an average ROI of 6 dollars for every dollar they spend in affiliate marketing. A high ROI indicates that your campaigns are performing well and are reaching the right audience. However, the success of affiliate marketing campaigns depends on choosing the best platform for affiliate marketing according to your business needs. The right platform helps brands build campaigns that resonate with their existing audience and expand to new audiences. Such platforms monitor crucial metrics such as clicks, conversions, or sales. It also helps businesses measure their success against key KPIs like click-through rate, return on investment, and more.
What is Affiliate Marketing?
Affiliate marketing is a subset of performance-based marketing. It is a marketing strategy used by businesses to promote their products and services online through publishers called affiliates. Affiliates are assigned unique tracking links which are used to track purchases that consumers make through these links and earn commissions in return.
Such affiliates can be content creators, social media influencers, bloggers, coupon and discount websites, or review sites.
Affiliates can be of three types:
- Unattached- Such affiliates don’t have any connection or expertise in the product they are promoting and may follow a pay-per-click model.
- Related- These affiliates are related to the niche they are marketing for. For instance, a blogger that writes on sustainability may recommend eco-friendly products.
- Involved- Such affiliates rely on personal experience in marketing, for example, a technical blogger writing reviews based on their usage of a particular product.
Why Reliable Affiliate Tracking Software Matters In Your Marketing Strategy
Affiliate tracking is fundamental to succeeding in affiliate marketing. Brands that track well, deliver better results. Some of the benefits of affiliate tracking are:
- Commission attribution- Precise end-to-end tracking of user journeys from various channels enables fair and transparent commission attribution to affiliates.
- Optimization- Tracking the channels that deliver the most results ensures campaign budget can be directed towards high-performing channels and affiliates.
- Payout errors- Reliable tracking reduces data discrepancies arising out of blind spots or incorrect reports, fostering a trustworthy relationship amongst stakeholders involved. Platforms like Trackier offer automated payouts that help reduce such attribution errors.
What Features Should Brands Look For In An Affiliate Program Software?
A careful consideration of features is an important aspect of opting for an affiliate program software. Here are some essential features that brands should consider while evaluating the best software for their business:
- Tiered Commission Structure- Businesses that partner with different types of affiliates may need tiered performance-based incentives for campaign growth at different levels.
- Multi-channel tracking- D2C brands that run campaigns across channels need cross-device tracking to attribute commissions fairly to affiliates.
- Privacy compliance- Tools that offer privacy-first data collection or server-to-server tracking are of prime importance for brands with digital presence.
- Personalised Dashboards- Tools should offer customizable dashboards according to a business’s needs and campaign goals.
- Real-Time Analytics- Tools that can track in real-time provide performance insights that can drive data-backed decisions.
Trackier: The Best Platform For Affiliate Marketing
Trackier is a partner marketing platform that helps businesses scale their affiliate marketing campaigns. It offers features like advanced analytics and automation to streamline marketing operations and reduce manual effort. Its affiliate tracking software offers full-funnel visibility like tracking clicks and conversions across channels. It also has a robust fraud detection feature that helps filter invalid or fake traffic and unqualified leads, protecting a brand’s image and a campaign’s credibility.
Best Practices For Making Affiliate Programs Future-Ready
Affiliate marketing is still churning as technologies like artificial intelligence and machine learning drive advanced analytics and reporting. This demands adaptability to keep up with the rapid evolvement, some practices that businesses can adopt are:
- Opt for Cookieless tracking- Choose tools that use privacy-first data collection methods.
- Use predictive insights- Advanced programs come with predictive analytics that help adjust commissions based on an affiliate’s value.
- Leverage mobile optimization- As mobile commerce is dominant, pick tools that support mobile tracking to maximize on it.
- Sustainable policies- Look for tools that align with ESG norms to build transparency with customers.
Conclusion
The market is oversaturated with affiliate marketing platforms. Choosing the right platform is the first step to standing out amidst competitors and building a foolproof marketing campaign. The right tools assist you in knowing your audience, connecting you with the right audience, and tracking your campaign activities, all in real-time. Such optimization helps reduce unnecessary costs on underperforming channels and helps build a successful campaign that yields positive results.
