As an advertiser, paying an affiliate a small commission to help spread brand awareness, acquire new customers, and reach KPIs seems like a no-brainer. Yet how do you find the right partners for your brand?
Partnerships go both ways, and it’s important to work with the right partners to produce results on both sides. To help select profitable partners, we’ve got 6 characteristics to look for in an affiliate partnership so you can confidently set your program up for success.
Why an Affiliate Partnership is Beneficial
With retail advancing online, the competition for ecommerce brands continues to grow in every vertical. Affiliate programs are an excellent way to drive more traffic, increase conversion rates, and keep up with competitors. The affiliate space provides unlimited opportunities to reach goals for your online business without hurting your bottom line.
What to Look for in an Affiliate Partnership
Affiliate programs are an extremely effective tool to help with your digital marketing efforts when the partnerships are strong and committed. Prioritize these six characteristics to build a successful affiliate marketing program and reach your goals.
1. Industry Experience
Especially when starting out, it’s never a bad idea to connect with those who have more experience in the affiliate space. UpSellit has been a leading technology partner for over 15 years, meaning each campaign is executed with data-driven knowledge of what strategies perform the best for brands.
Yet experience doesn’t always have to mean the number of years an affiliate has been active. What’s important is your partner’s understanding of your industry and goals. They’ll need to be well researched and motivated to drive sales to make the partnership profitable.
2. Strong Communication
A strong line of communication is key. Advertisers and publishers need to be open with their expectations so there’s no miscommunication or sudden need to rework problems that could have been avoided.
Advertisers should provide any key information or material they want the affiliate to represent. Whether it’s through social media, blog posts, or websites, affiliates should promote the appeal of your brand as effectively as possible. Likewise, publishers should always be available with data and insights so any campaign adjustments can be made in a timely manner without missing opportunities.
3. Collaborative Approach
Partnerships are also not one size fits all. The level of involvement with an affiliate partner varies based on the type of partnership, the extent of the campaign, and the goals of the arrangement. When starting a new partnership, strategy calls are an excellent way to collaborate on how to reach desired KPIs.
Although some partnerships require less maintenance, you want to think of yourself as a team. Affiliates represent your brand, so collaborating on new ideas for various strategies will result in a more profitable partnership for everyone.
4. Innovative Thinking
Innovation and creativity go a long way. Although levels of communication may vary, a good publisher should be able to intelligently strategize solutions for the affiliate marketing campaign backed by knowledge about the brand promoted and the industry itself.
Campaigns can’t just be set it and forget it, there should be a level of care to ensure the strategy is well thought out and adjusted accordingly as factors change with the life of the campaign.
Even with a thorough plan for affiliate marketing efforts, sometimes things need to change. This could simply mean a design update or change in promotions for the products or services advertised. The campaigns should be easily customized or adjusted whenever necessary.
Last but not least, there needs to be a level of transparency between both parties. Cannibalization is a common concern for advertisers working with multiple affiliates. For proof of attribution, reporting dashboards are an excellent way to solve any possible doubt in the advertiser’s mind on where the commission should be going.
How Networks can Help
Working with an affiliate network is an easy way to find and manage new partnerships. Networks work as the middle man to connect publishers and advertisers, as well as help with billing and reporting. Networks are a great tool to build a good affiliate program with presence at every stage of the funnel.
Working with UpSellit
With over 15 years in the affiliate space, UpSellit uses one-to-one personalization to generate sales, collect qualified leads, and increase customer lifetime value. While traditional affiliates drive traffic, UpSellit makes the most of your existing traffic to provide incremental revenue.
Through AI-driven email remarketing and on-site conversion strategies, UpSellit provides results for our partners across every vertical so you can have a strong affiliate presence at every stage of the customer journey.