How to Maximize Your Publisher Relationships
According to one recent study, affiliate customer journeys tend to involve only one publisher a significant 83% of the time. But in a larger sense, what this means is that ALL publishers - not simply the last click - can deliver incremental returns across the board.
Based on statistics like that one, it's clear that publishers usually don't compete for a conversion in the way we previously thought they might. They tend to attract loyal and diverse audiences "the old-fashioned way" - by serving customer needs. They give consumers information and confidence about their purchasing decisions, all of which entices them to come down off the fence and make a sale.
But this doesn't mean that you should be minimizing the number of publishers you're working with. Far from it. In fact, it's proof positive that you need to be proactive about maximizing all of your publisher relationships. You can do this in a few different ways, all of which are worth exploring.
Variety Is the Spice of Sales
By using a wide range of publisher types, you're making sure that a variety of consumers are having their needs met in their own unique ways. Truly, the best way for advertisers to reach new people and grow their audiences is to recruit and diversify with this in mind. Not only does this lead to more revenue, but it also creates sustainable growth as well.
How to Attract Diverse Publishers
To get to this point, you need to understand that recruitment is not a one-off concept. Only through ongoing recruitment will you be able to achieve the long-term, sustainable growth that you need.
Therefore, to maximize your publisher relationships, you need to avoid falling into the trap of those "one size fits all" compensation models. Instead, lean into a situational commissioning program that rewards publishers for their own unique talents. Be sure to structure your offers in a way that lets those publishers maximize engagement with consumers, which will almost always maximize conversions as well.
Communication is Key
But more than that, you need to think holistically about what a successful partnership means to you. When you reach out to publishers, think about and communicate what your precise definition of "success" actually looks like. By making an effort to guarantee that everyone is on the same page at the beginning of a relationship, you'll put all parties involved in a position to build the most successful one possible.
In the end, the best way to maximize your publisher relationships involves making sure they have the resources necessary for success as defined above. Make available robust product feeds and deep linking capabilities. Offer product level reporting with SKU, product name and other information. Share promotional plans and markdown sheets well in advance.
All of this goes a long way towards eliminating a lot of the inconsistency that exists among advertisers with regard to what is available and what is not. Ask publishers what resources they need and why - all so that you can help them optimize your own programs as efficiently as possible.
WANT TO LEARN MORE ABOUT DIVERSIFYING PARTNERSHIPS?
Our recent webinar HOW TO DIVERSIFY YOUR PARTNERSHIPS TO SUPERCHARGE YOUR GROWTH covers how to:
Pivot to new business models
Build new partnerships
By doing this ⬆️… you can acquire and retain customers to deliver dramatic growth.