Using Metrics & Benchmarks - Tips for Managing an Affiliate Program
Jeff Gordon, founder of Interactive99 (http://www.interactive99.com/) discusses affiliate marketing program operations. Learn how to use metrics and set goals to manage your affiliate marketing program.
- Limit your data & keep it simple
- Set benchmarks to measure success against goals
- Meet with your affiliate manager to assess goals & strategies
So a lot of my clients are very busy executives who are managing multiple channels of marketing. They’re not necessarily though on top of all the specific metrics especially for the affiliate program. They may not be very in the loop on what’s going on or they’re just not understanding the efforts of what’s being put forth.
It’s very important for these executives to really boil down what 3 or 4 metrics they need to be looking at and what their affiliate team needs to be looking at.
It could be (ridges). It could be orders. It could be sales. Whatever they are, you need to effectively communicate that to your affiliate manager. Additionally, understand and communicate the benchmarks within those metrics. What is good and what is bad? What is acceptable and what type of goals will your affiliate team be held to?
Meet with your affiliate manager once a week, but it doesn’t even have to be a half hour. Just a quick meeting to reinforce the goals and to understand where they’re at, what they’re doing. You’ll find that in less than a half hour over the week you can be very on top of your affiliate team and give them direction they need so that you can be successful.
This doesn’t take a long time to do but making sure you understand which 3 or 4 metrics are vital to your success and making sure that your subordinates understand that will really help to grow your affiliate program and free you up to do what you have to do.