The Ultimate Guide to Affiliate Data
Once you’ve set up your program in your affiliate network, you will start to receive data insights, but there are other layers of data that you can pull. To understand why data is important, you need to understand the relevant KPIs and how they can indicate affiliate performance. So, here is your ultimate guide to affiliate data.
The first data set to look at is revenue. This is the money brought in by your affiliate recruiting efforts. This will allow you to check the overall performance of your program.
Traffic and Clicks:
Net look at your traffic and clicks data. From this data, you will be able to see who is driving traffic, but with clicks that fail to convert. This information can help you optimize and also highlight areas where affiliates need help to ensure that you are both successful.
Average Order Value:
The average order value will help you to check your figures against your projections. You can also see areas where particular campaign strategies are not yielding the best results.
Affiliate recruiting is great, but you also need to see if the leads are converting. This is particularly important if you’re paying your affiliates per action, yet they are not actually resulting in any sales. If this is the case, you will need to rethink your strategy as your program is losing money.
New Customer Acquisitions:
New customer acquisitions are one of the methods to measure an affiliate program. If you can lower the cost of customer acquisition and prove your marketing ROI, you are sure to make your program a success.
Keeping a track on your commission payouts is crucial to ensure that your program is operating on budget. It will also allow you to see the high and low earners, which may allow you to modify your commission structure if necessary.
For any business, the return on investment is a crucial metric. While the budget for your program may be unique, you do need to check how your return on investment is measuring up.
You may set a target ROI for each advertiser or sale, so it is important to check how the actual performance compares. However, even if you don’t have a target ROI, it is a good idea to check how your program is managing. Depending on what is profitable for your program, a good ROI is typically 2 to 5%.
Number of New Partners:
While you may initially rely on a handful of affiliates, if you want long-term success, you need to keep building your affiliate network. Monitoring the number of new partners will help you to determine if you’re on track or need to put some more effort into your affiliate recruiting.
Percentage of Clicks Active Partners:
The percentage of clicks for active partners will help you to see whether your affiliates are bringing in enough leads.
Percentage of Sales Active Partners:
Finally, the percentage of sales will help you to discover the average sales attributed to your affiliates. If the percentage is low, it will indicate that you need to do more work with your affiliates to generate more sales.