four hot ways to maximize revenue performance now
TRANSCRIPT
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Affiliate Summit West2015
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Merchant - John LoBrutto◦ 1&1 Internet
OPM - Rick Gardiner◦ iAffi l iate Management
Network - Jeannine Crooks◦ Affi l iate Window
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Managing Real Estate - Landing Page Optimization
Turning Clicks into Sales - Cart Abandonment
Maximizing Network Performance Taking Amazing Care of Your Affiliates
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Maintaining a high conversion rate is one of the biggest challenges in affiliate marketing.
Develop unique affiliate landing pages, focus the customer on a clear call to action. Shorten the sales funnel.
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Optimize the anchor text or banner ad to focus on one clear offer and execute a simple message on the linked page.
Develop a unique promotion for the Affiliate channel and clearly display added perks, such a free shipping.
Test – Test – Test!
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The average abandonment rate is 67.75% of all online shopping according to a Baymard Institute study.
After spending so much time optimizing landing pages, developing pricing initiatives, and perfecting your message, just about 7 out of every 10 people are leaving at the cart.
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According to Forrester Research, the estimated total of annual abandoned shopping cart revenue will reach $31 Billion dollars in 2015.
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So, why does cart abandonment happen? How do you recover abandoned carts?
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◦Reason 1 - Unexpected Costs◦Reason 2 - Browsing◦Reasons 3 - Better Price Elsewhere◦Reason 4 - Price Was Too Expensive
Customers are not just changing their mind, they have tangible reasons to abandon the purchase. Recovery strategies need to remove these barriers.
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Basket Recovery vs. Abandonment Recovery
Many players, but different approaches:
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Key elements in a successful abandonment recovery campaign: Timing – the first recovery email should be sent within 24 hours, and then a follow up within 3-5 days.
Images – Show images of the abandoned items, add reviews and recommendations. Develop a single compelling call to action to bring them back.
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Phone Number – Add an additional point of contact to ease concerns and answer questions.
Reminders – Promote satisfaction guarantees, return policies, shipping policies, and perks.
Coupon vs. no Coupon – Analyze customer trends and verify if adding discounts increase conversion or influences behavior
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Essentials for Optimizing Website Real Estate
Know your audience – Who is your typical visitor and the demographic of people using your website? How are people finding you?
Improve your end-user experience – Use analytics and webmaster tools to understand how people are using your website.
Create Targeted Content – Create useful content specific to your demographic that will help them take that next step.
Take control of your ads – Evaluate how targeted ad rotations perform vs. AdSense (or similar programs).
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How do I strategically improve the ROI and operational efficiency of our affiliate channel?
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The Benefits of Having a Multi-Network Affiliate Program: Divide and Conquer – Additional network resources available to support different areas of your program.*Increased Brand Exposure – Multiple network marketplace listings provide more visibility for the merchant/advertiser.*
*Additional expenses may be incurred. Varies by network.
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Flexibility for Affiliate – Partners choose which network they would like to join your program through.Flexibility for Merchant – More control over your Ad Spend. Better positioning for contract negotiations.Current Technology – Knowing competitive landscape enables you to identify networks with new or emerging technologies.
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The Challenges of Having a Multi-Network Program:
Operational Inefficiencies – Workload increases exponentially as you add networks. Your operational playbook will include ad-hoc reporting and other network-specific tasks.
Data Inconsistencies – Additional work to normalize data between networks. Order reconciliation is required to address duplicate orders that artificially inflate data and increase your ad spend and expense.
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More is (not always) Better – More networks does not equal incremental revenue.
Network Support Varies – Not all affiliate networks are created equal.
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Source: AffiliateBenchmarks. (2014). 2014 Affiliate and Advertiser Research Report, U.S. Advertiser Version.
Who Manages Your Affiliate Program?
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Current Banners◦ Affiliates don’t have time to swap out banners, so
do it for them; replace the old ones with new ones.◦ Don’t leave the old ones up forever
Work with your Account Rep – what can they do for you?◦ Holiday wrap-ups◦ Category focuses
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Always Have an Offer!◦ Whether it’s free shipping, free gift with purchase,
discount based on basket value, sale on selected item(s), always have something!
Pay to Play ◦ Many large affiliates have special offers, premium
placement, newsletter inclusion in exchange for increased commission or payment. Test it, don’t just dismiss it.
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Communicate◦ Regular newsletters – not just special offers, but
also discuss seasonal favorites, how to promote selected items or categories.
Contests◦ Very popular with affiliates UNLESS only the
same top performer can win.◦ One entry for every sale, extra entries for first time
sale, social media promotion, sales thresholds
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Review Assists◦ Who is generating a lot of clicks but not closing
the sale? Analyze the whole click path.◦ Offer training, custom content or creative,
exclusive offers Respond◦ Most affiliates don’t contact merchants, but some
have special offers, opportunities, great ideas If they email you, answer them.
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Approve on a regular basis◦ Don’t make them wait longer than a week◦ If they don’t make sense for your program, ask
before you decline. Payment◦ Timely payment secures relationships◦ Prompt approvals, prompt invoicing approval,
make sure AP sends the check on time
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John LoBrutto◦ [email protected]
Rick Gardiner◦ rgardiner@iAff i l iateManagement.co
m Jeannine Crooks◦ Jeannine.Crooks@Affi l iateWindow.
com