Recruiting the right partners can be one of the most challenging aspects to building a scalable affiliate program. Nailing this process could be what turns a decent program into a thriving one.
We sat down with Chris Tradgett, CMO of Publisher Discovery, to open our series of October Fireside Chats with his shared expertise on what it takes to get this right.
Here are some key insights from our chat:
- Focus on a sustainable, long-tail game. Try fostering relationships with bloggers, influencers, or shopping or review sites, which can provide long-term, mutually beneficial partnerships. These channels are more likely to be worthwhile despite taking more energy to cultivate than the tempting, low-hanging fruit found in coupon or cashback sites.
- Publisher diversification is paramount. Avoid putting all your eggs in one basket, which could lead to an irreparable performance plummet if that basket gets damaged. For example, when Google Panda was introduced in 2011, sales from coupon/loyalty sites became virtually nonexistent overnight, and therefore, subsequent revenue for affiliate programs previously banking on those sites also collapsed.
- Identify your “normal.” Get to know the typical reporting trends for your product so that when you launch new affiliates, you’ll be quick to notice when something seems “off.” Pay attention to reporting and any integrations with 3rd party fraud detection, like 24Metrics. With Everflow, the Click-to-Conversion Time Report is great for catching red flags that could indicate poaching, while knowing where your customers are around the globe could help you spot unnatural trends in volume as it relates to time zones, language or device models.
- Use social media! Follow prospective affiliates, and try connecting with them using a handle that they may recognize later when you “meet” more formally. Read their blogs, engage with their posts, and be sure to tailor your communications to reflect that you’re a part of their circle by knowing what they’re working on.
Similar to dating, you may know a potential high-quality partnership when you see one, but you’ll need to prioritize building it up to its full potential to prove it’s a good match. Furthermore, keep in mind that even the “happiest” of marriages require effort and care…it takes hard work and commitment to make a relationship stand the test of time. The same goes for a thriving performance partnership.
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