Many affiliate programs run with last-click attribution, where the affiliate receiving the last click before the sale gets 100% credit for the conversion. This is changing. With affiliate platforms providing new attribution models and reporting features, you are able to see a full-funnel, cross-channel view of how individual marketing tactics are working together. For example, you might see that a paid social campaign generated the first click, Affiliate X got click 2, and Affiliate Y got the last click. With this full picture, you can structure your affiliate commissions so that Affiliate X gets a percentage of the credit for the sale, even though they didn’t get the last click.
Same thing as affiliate tracking. A unique ID attached to the links you use to send traffic to the merchant that is specifically for you to track your sales for or referrals to the merchant. Example of a tracking code in a link: merchant.com/?ID=YOURUNIQUEID – You'll find an in-depth article on what affiliate tracking codes are and how to use them here.
Affiliate marketing success can lead many to believe this is an easy way to make money online (passive income). However, It takes a lot more than an online course, a few domain names and Amazon products to become one of the real success stories. Although the internet is flooded with business models and marketing tips, it is simply pretty darn difficult to start leveraging this channel effectively.
Great stuff here Sean – thanks for all of these insights and sharing some best practices when it comes to affiliate marketing. I’ve never been comfortable giving it a shot, but after reading this post and your perspective on how and when to do it, I may just have to give it a try. Especially considering I’m already mentioning and recommending services and products on my site, I’m just not getting the potential rewards associated with doing so. Thanks again.
Once you've protected your prospecting pool, maximize your affiliate program by working with the best and leaving the rest. As the old 80/20 adage implies, most of your revenue will come from a very small percentage of your affiliates. Because it can be time-consuming to manage a larger affiliate network, consider selecting only a few companies initially, and interview them before signing them on. Affiliates are an extension of your sales force and represent your online brand, so choose partners carefully.