Building a Strong Partner Marketing Program
When developing your partner marketing program, it is essential to consider the following:
Establishing clear attainable objectives:
Making a list of Short term and long-term goals: Why are you launching a partner marketing program? Is it for a specific product launch? Or is it to attract more customers on an ongoing basis?
Target Customer: What is your customer persona? Are you looking to get new customers or re-engage old ones?
Outcome: What do you want your affiliates to drive? What types of conversions are your aiming for? E-mail subscribers, downloading applications?
Sourcing the right Partners that will fit with your overall brand objectives:
Taking into account demographics is key: Purchasing habits of your customers, what do they read? The types of products they buy. Where do they look for products? Are they more likely to use desktop or mobile?
Ensuring you build a diverse portfolio of partners: Although, this often overlooked as it requires additional recruitment efforts to look for various affiliates, it is essential to spend a significant amount to look for the right partners – otherwise your program may rely too much on certain partners, which automatically puts your partner marketing program at risk
Advantages of a Diverse partner marketing program:
Reach new customers: when you build relationships with several affiliates you automatically reach to a wider audience.
Going beyond traditional partners: Partners can interact with customers at different touch-points of the customer journey, therefore working with partners from different affiliate models increases the chances for conversion.
Upper funnel partners are usually, content sites and influencers their role is to educate potential customers on your brand
During the consideration stage of the journey, Voucher sites, Comparison and loyalty sites, where factors such as exclusive rates can lead to the purchase.
At the Bottom of the funnel we tend to see cashback, email or re-targeting affiliates that will drive the final conversion
Tips for achieving Diversification efficiently
Group your affiliates: communicate with your affiliates in a targeted and relevant way, this will lead to engagement, focus on specific ROI for each affiliate type.
Explore new opportunities: use tools such as SEMrush and similar web to find new affiliate opportunities.
Look at the competition and get inspired.Your program needs to be as attractive.