Stepping into 2024, marketing experts at global affiliate marketing
In an era where adaptability is key, these resets offer a forward-looking perspective on navigating the affiliate marketing
In light of the ever-changing landscape, Sam Roberts, senior affiliate marketing manager at Silverbean, said: “From the power of AI to the development of card linking and open banking partnerships, there’s tonnes of great innovation in the affiliate marketing space. But we can’t forget about the basics. We can’t just focus on what’s to come and forget the ultimate formula that’s served so many brands and affiliate managers to success. To put it simply, basics and consistency equal results.”
Now, Sam shares five ‘New Year’ resets that will shape the affiliate marketing
1. Check that all systems are working and clean away the dirt
“I’m sure you’d realise if there were tracking issues over the new year, right? Do you have a procedure in place to double-check this? If not, why not? Don’t bury your head in the sand. The quicker that solutions are in place to combat potential problems, the quicker they are solved when they rear their ugly heads! Anticipate, then execute when the time arises!
“January is a great time to update your programme profile, update product feeds, and remove old links.”
2. Your affiliate partners are optimised
“For most, Q4 is peak season so arrange check-ins with your partners in the new year! You will likely get good insights from performance for your brand and also your industry. In turn, this can feed your future strategies. This is also a great opportunity to ensure strategic course correction for any issues your partners have faced in Q4.
“Check partner applications; should partners have applied in the chaos of November and December, it’s very easy to miss. Check, get in touch, and make sure they have what they need to begin adding value to your programme immediately. This is also the chance to make sure you’re exploring the best way to work with your partners in 2024, straight from the source.
“Lots of new features, placement opportunities, and good old-fashioned relationship building are not done without getting on these calls. The latter area is probably the most overlooked by junior affiliate managers. Your partners ultimately = your brand’s success. Do not forget it.”
3. Sense check for expired promotions and incentives
“If your vouchers are still being displayed and cashback rates are still showing as wrong, the chances are, sales will be tracked from them. This is regardless of if the voucher works or not, and you’re running the risk of ultimately negatively impacting your ROAS, annoying your partners, and increasing the likelihood of affiliate fraud.”
4. Fraud: are you avoiding it?
“One of the most important issues facing the affiliate industry just isn’t going away. As technology develops, there are more and more chances for affiliate programmes to succumb to fraud. Make sure you’re checking for the basics, such as brand bidding and click fraud. Do not be scared to spend reasonable time digging into data; your clients or bosses will thank you.
“Alongside the tools available within SaaS-based affiliate networks, there are some really useful external fraud detection tools on the market to help with the above issues! Make sure you’re exploring these to combat the more tricky scammers out there. “
5. Define success
“The number one buzzword of affiliate marketing is often “incrementality”, but it’s incredibly important to define what actual value your programme is providing to your brand. Otherwise, why are we here? New calendar years can often mean a switch in strategy so get on top of this and ask questions! This way, you can pivot and adjust accordingly early in 2024. If nothing changes, at least you can double down on the existing strategy with confidence.”