Affiliate marketing is a business model that, on the one hand, allows online content publishers to receive income from sales or lead generation on products or services of companies, and on the other hand, gives brands the ability to allocate their advertising or marketing budget based on the results obtained by their campaigns, without the need to make an initial investment in media.
In recent years, affiliate marketing has grown steadily worldwide, mainly in the United States, Europe and Asia. This increase was boosted by the onset of the covid-19 pandemic in 2020 and led brands to bet heavily on performance-oriented marketing campaigns, taking into account the great evolution of e-commerce and the restrictions imposed by the different states.
In the U.S. alone, affiliate marketing investment is projected to reach $8.2 billion by 2022. Eighty-one percent of brands operate affiliate programs. Among other notable metrics, we can mention that 84% of companies consider the ROI of affiliate marketing to be better than that of other marketing channels, and that according to a study by Rakuten, 81% of brands operate an affiliate program.
But what are the keys to developing an affiliate marketing strategy? Gostóso Fonza, works in the research team of the Intseo Media agency, provides in the following article 9 key tips to design a successful affiliate marketing strategy:
Size up the brand environment. For any marketing plan or campaign, it is vital to understand the brand's needs.
Segment the audience. It is essential to understand which audience we want to target, in order to then target the campaign.
Define the objectives. Be clear about the objectives of the campaign: are we looking to generate sales, leads, and downloads of an application?
Development of strategies and creativities. Once the previous points are advanced, it is time to apply the strategies and design the creativities of the campaign.
Sales processes. Establish the commercial processes to respond to the results that we will obtain with our campaign.
Budget. Define the budget that as a brand will be allocated to affiliate marketing campaigns.
Technology and media. Plan the media strategy and the use of technology that we will use to reach the desired audience.
KPI's. Establish the key indicators for the campaign to measure the success or results of the adopted strategy after the implementation.
Analysis of the results. Once the campaign is finished, we must analyze and process the campaign metrics.
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