How Much Growth can I Expect?
Bo Bennet said one of the most famous affiliate marketing quotes: “Affiliate marketing has made businesses millions and ordinary people millionaires.”
It's correct, affiliate marketing is one of the most popular tactics to drive sales and generate revenue, leads, installs or a desired action. Affiliates are paid for referring new clients and customers to other businesses, products or services. So you only pay once a user on the internet find your service and take action. It's an appealing system as there is no loss involved. It’s entirely based on “pay per performance.”
Let's begin with answering the question right away: It depends!
Before starting an affiliate campaign, these kinds of questions might pop up in your mind. How soon will I start seeing sales? What volume of sales can I expect? How many leads will I get? What will be my growth rate?
How much growth you can expect relies on several criteria. Before running an affiliate offer, you should consider to make an evaluation and ask yourself several questions. What kinds of products / services you are going to run? Are you expecting a return from B2B or B2C market? Is your market big enough to capitalize? How much commission you are willing to give the affiliates when they drive your desired action? Do you have a known brand? How well does your web site convert? These are just some of the criteria that effect your campaign performance.
Affiliate publishers are the key to success for you. We are working with thousands of them and it's our job to contact and convince them to run your offers but in case you have a compelling offer, they are more willing to run your offers and convinced affiliates help advertisers a lot.
Giving more commission may attracts publishers more. They will be more interested in your affiliate offer and give an extra effort to convert your offers. An increase in payout might return with an increase in traffic & more conversions. Also creating compelling banners increase conversion rates and makes life easy for affiliates.
Apart from that, communication with your account manager is extremely important. S/he will be your point of contact with the people advertising your products & services, aka publishers. They know which campaign will convert better on which affiliate. Also, while running the campaign your account manager might need your help to provide insights. Once you send data to your account manager, s/he will analyze the results of affiliate performances and help you to optimize the campaign.
Another performance enhancer is, providing a special offer. Let's say you have an e-commerce business and willing to increase your sales. If you provide an exclusive coupon code, this will attract users more and turn into $$$ for you.
Offer restrictions are also a game changer. If you prevent the affiliates to use certain traffic channels, their traffic volume will decrease and it will affect your campaign performance.
In case you contact your account manager, you'll receive these suggestions and many more and it will be really helpful for you to increase your figures.