4 Tips for Affiliate Marketing in A Constantly Changing Landscape
“At a time where so much is in flux, we’re incredibly fortunate to be in an industry that not only has the ability to continue to operate seamlessly but has the chance to really soar.”
That’s a quote from Erin Cigich, our CEO, as she addressed our company last week – via video, of course – in the face of the challenges that the pandemic is bringing to the global economy. Performance marketing is the only methodology of marketing that aligns cost-per pricing with customer lifetime value, allowing marketers to be agile with their budgets, resulting in definitive ROI for your brand. Whether your level of experience with performance marketing was before the pandemic, or you have just begun to consider it, now is a great time to dig deeper or to get started.
The team at Perform[cb] is focused more than ever on these opportunities, and we’ve drawn on our 400+ years of collective industry experience our team has to gather these four tips to help as you navigate this constantly changing environment.
#1 Communicate Compassionately
You know what your family is dealing with. This could include any combination of turbulent emotions, cabin fever, financial strains, caring for the generations that depend on you, and trying to juggle being an effective employee and a teacher, parent or housekeeper all at the same time. Remember that your customers, whether your focus is B2C or B2B, are all experiencing the same emotions and challenges. Now is the time to show that your brand can communicate with empathy and compassion. One way to do this is to offer goods and services that will help ease some of these concerns. There is a huge opportunity for vertical marketers to capitalize on the increasing need for digital access to essential goods and services, entertainment, and education. This is why we are seeing offers for mental health services, natural immune support products, and entertainment apps that are positioning themselves as “tools in the toolbox” for pandemic survival thrive in this environment.
#2 Shift Your Budget Mix
Now is the time that companies are looking to their marketing departments to pick up the slack from canceled customer meetings and postponed trade shows. All the while, budgets are being scrutinized, and sometimes pulled back, by leadership. This makes it more important now than ever to maximize ROI. The marketers who can most quickly shift gears from “in person” or traditional tactics to digital are those who will be most successful. Impressions don’t keep the lights on or people employed, only real customers can do that, and performance marketing is the ideal way to do this. Therefore, marketers should be looking to increase offer payouts and caps on existing offers, roll out new offers, or expand to new channels. For example, if you’ve focused on display ads, perhaps now is the time to take a dip into social or content. Contact Perform[cb] Agency to request a content marketing audit.
#3 Optimize, Optimize, Optimize
Speaking of budget, marketers must make quick, data-driven decisions to maximize your budget. What worked on March 20th may very well not work on March 30th, and definitely not on April 2nd. Things are changing that quickly, and this is why it’s important to leverage a performance network that can get you all of the data you need. PerformLEAP™, the proprietary platform that Perform[cb] operates on is adept at getting marketers (and affiliate partners) the right data at the right time. PerformLEAP™’s Marketer UI provides custom dashboards and real-time reporting to ensure individual affiliates are hitting marketers’ KPIs. Not familiar with PerformLEAP™? Contact us now to request an overview.
#4 Something New, Something Old
Building on #3, as consumers are stuck at home and shopping options are limited, 36% say that they are starting to pay more attention to marketing messages, including email. Therefore, if your brand has taken a hiatus from email marketing over the last few years, or never tried it before, it may be time to return to (or try) this tactic. If you don’t have the time or resources to create new content, this may be an opportune time to repurpose recent content with a new CTA for consumers. Just remember to abide by tip #1 above, and always be empathetic in your communication.
In times like these, it is our role as your Performance Network to continue being a trusted affiliate partner and to provide insights into the market and opportunities. We will continue to be with our marketers and affiliate partners every step of the way – from strategy to compliance – as together we navigate through the uncertainty we are all experiencing now, as well as the long term residual implications that occur. If you want to step up your performance marketing efforts, reach out to our sales team at email@example.com or apply to be a Marketer.