Before marketers are once again swept back into the hustle and bustle of everyday partnership program management, now is the perfect time to regroup. For brands and agencies managing partnership channels, this moment also marks a key time to evaluate how well your partnerships served you during the 2023 big-spending season.
Partnership And Affiliate Marketing Programs: 5 Ways To Evaluate Performance
While aggregate ecommerce sales in 2023 continued to trend strongly in the right direction, the gains weren’t necessarily shared equally across the retail landscape. To figure out how your brand stacked up, it’s important that you don’t just focus on the overall sales figures, but also look at how each channel contributed to those sales. Did your partnership marketing channels meet expectations? If not, how can you realign for the new year based on what you learned? And even if your partnership channels delivered strong holiday results, is there an opportunity to do more next time around?
Partnership And Affiliate Marketing Programs: 5 Ways To Evaluate Performance
To help you evaluate questions like these, as well as to better chart your courses for 2024, here are five key areas that marketers should evaluate.
Partnership And Affiliate Marketing Programs: 5 Ways To Evaluate Performance
1. Evaluate Your Partner Mix
One of the biggest opportunities for refinement and improvement within the affiliate and partnership marketing space exists within a brand’s partner mix. The diversity of potential partners has never been greater, and many marketers that have fallen into a rinse-and-repeat cycle with their affiliate and partner mixes stand to benefit greatly by diversifying their partnership types.
Partnership And Affiliate Marketing Programs: 5 Ways To Evaluate Performance
Of course, it’s important to note that diversification isn’t the end goal. Improved results are. So, in considering whether (or even how) to diversify a partner mix, marketers need to start with their goals. What are you truly trying to accomplish within your partnership program? Is your current mix accomplishing that? Would new types of…
Partnership And Affiliate Marketing Programs: 5 Ways To Evaluate Performance
..
Partnership And Affiliate Marketing Programs: 5 Ways To Evaluate Performance