Getting into the habit of registering your top 10 affiliates that bring the most revenue to your program every year is essential for success in affiliate marketing. Cultivating relationships with these affiliates is key to maintaining a successful association. Keeping track of the number of new affiliates you've approved can help you understand the demand for your program. It's also important to be aware of potential affiliates who are already sending referral traffic and sales to your site, but who aren't official affiliates.
Look for any anomalies in this affiliate marketing KPI, especially after a certain occasion. For example, you can check the change in the conversion rate after running a special promotion to see how well it has been successful with your audience. The average order value is another of the essential affiliate marketing KPIs that you should track if you want to measure the profitability of your program, as well as the profitability of each affiliate. This is the average amount spent every time customers buy something from you.
A higher average order value means that people spend more for each purchase. It's not enough to analyze affiliate marketing KPIs, such as the total number of conversions. Even if your total sales this year aren't as high as last year's, you could earn more revenue if you have a higher average order value. Discovering top affiliates in your category is key to success in affiliate marketing, as other affiliates will naturally follow their offers and publish them. KPIs are a type of performance measurement used to assess progress toward a strategic objective or goal.
In affiliate marketing, different companies have different KPIs by which they measure success. Conversion rates are a great way to discover the most effective affiliate marketing channels. Here are a few ways in which the conversion rate helps you set up the best affiliate marketing program:
- Conversion rates have a significant impact on the final results, as they help to adjust the affiliate marketing effort.
- The sales KPI per affiliate is the measure of the number of sales made by an affiliate seller. Simply put, it's the number of customers that an individual affiliate brings to your business.
- Affiliate sales play an important role in measuring customer acquisition, since every customer that the affiliate attracts contributes to the conversion of the objectives of your affiliate marketing strategy.
- The percentage of active affiliates is the number of affiliates who are striving to generate sales or leads for your business.
By dividing the number of active affiliates by the total number of affiliates, you can determine the active affiliate rate.
EEPC helps maximize revenues and increase affiliates' profits. AOV revenue %3D divided by the number of orders. Scorecards can help select up to 15 metrics and automate performance updates for those metrics for entire companies or specific departments. You can even schedule dashboard snapshots and performance alerts on any Slack channel. Take a deeper look at this affiliate marketing KPI to identify which websites, affiliates, or platforms are sending the most traffic and which aren't. This is extremely valuable because it's much easier to increase conversions for affiliates who are already making sales than it is to attract new affiliates who are just starting out and may not have enough traffic to generate sales. It helps companies set up multiple affiliate programs, track performance of affiliate members, and send their payments from a unified control panel.
For an affiliate program to be successful, affiliates must have a genuine interest in promoting products or services. However, selecting right KPIs (key performance indicators) to measure effectiveness of affiliate or influencer marketing campaigns can be difficult. This affiliate marketing KPI provides realistic picture of program's performance beyond monthly sales performance. Setting up to measure LTV for affiliate marketing can take a while, but once this KPI is up and running, it can provide detailed information about long-term value that influencers bring to campaigns and final results. This is one of basic affiliate marketing KPIs to consider, because it's an important indicator of growth of program. Affiliate marketing is one of most commonly used sales strategies that most sales operations teams invest in to achieve sales objectives. Therefore, affiliate marketers must plan their strategy to reach wider audience and increase revenues.
Truly successful affiliate marketers understand value of optimizing their traffic funnel to maximize work they do. Therefore, higher EPC rate means more purchasing power and attractiveness for an affiliate to continue generating traffic and promoting an offer.
