6 Signs to Know if You’re Using the Right Affiliate Network Software to Fuel Growth
It’s no secret that the right affiliate network software delivers significant benefits and advantages that help drive your business forward. Yet, how do you know if the solution is, in fact, the best fit?
If you’re questioning the limitations of your affiliate network software, it may be time to consider making a change. A different solution could help you generate additional revenue and hit other growth business goals. In this post, we share six positive signs to help you identify if you are using the right affiliate network software, as well as some of the benefits a modern affiliate network platform can deliver for stronger ROI and continued growth.
The right affiliate network solution provider should:
1. Commit to evolving privacy and security requirements
Consumer privacy and security requirements are more important than ever, and you should feel confident your provider has you covered. When these requirements are not managed well, the results can negatively impact a brand and lead to substantial fines. Both are convincing reasons to confirm your provider is up to date on the latest consumer privacy evolvements and has taken the appropriate steps towards compliance.
With affiliate marketing programs, another layer of complexity is added when it comes to data collection and privacy. Vast amounts of data are collected and shared among the highly interdependent affiliate marketing ecosystem of advertisers, networks, and affiliates. These partners can have varied approaches to handling personally identifiable information (PII) for consumers. This intricate network with lots of data, plus multiple updates in consumer privacy laws, requires a serious commitment to consumer privacy and privacy requirements.
Confirm with your provider what protocols they have in place to adhere to privacy advancements such as the General Data Protection Regulation (GDPR) and the California Consumer Privacy Act (CCPA). Also, confirm that they have the proper security protocols in place to protect consumer data such as Type 1 Service Organization Control (SOC) 2 compliance and Type 2 SOC 2.
2. Enable additional revenue opportunities for your business
Consider a platform that offers multiple marketing capabilities on a single platform.
For example, a natural extension to an existing affiliate marketing program that can provide a new revenue stream is lead distribution. With lead distribution, you can get more value out of campaign traffic by passing along qualified lead data to advertisers.
Lead distribution is a process that involves capturing, validating, and distributing leads to buyers that can be sold for a premium price across multiple verticals. Instead of sending just traffic to the advertiser, affiliate marketers can also send qualified leads to the advertiser at a higher selling price than a typical CPA. Lead distribution also expands the playing field for affiliate marketers by introducing them to more verticals. This allows them to grow their network of partners to also include lead buyers looking to purchase highly qualified leads.
Marketers who have extended their affiliate marketing program with lead distribution on a single platform have proven to unveil new opportunities to monetize leads beyond what’s possible with affiliate click traffic alone.
3. Ensure long-term viability
Technology performance is key. However, you also need a provider that will be around for the long run. With new affiliate technology providers recently entering the affiliate marketing space, the fact is that many have limited experience and the industry is evolving with consolidations.
If your provider were to suddenly be unavailable, consider the consequences. This could leave your company with a limited amount of time to salvage all data, processes, and other things from this particular provider. It could also mean a pause in your company’s own operations, which would be devastating for your business and reputation
To avert such a fallout, partner with a stable affiliate network technology provider. Ways to check on a provider’s viability for the long-term include researching the company’s history, including investments and other financial information.
4. Offer more than the lowest price
Just because a solution is cheaper than the competition, doesn’t equal quality or that the platform provides the opportunity to grow.
An affiliate marketing software technology is not a solution where each offering is identical.
If at first your affiliate marketing technology provider is considered to be a steal, consider what corners they might be cutting to reduce prices. Of course, you have a budget to keep in mind, but when you’re presented with a cheaper provider and a more expensive proactive provider, don’t immediately discount the later based on flat costs. If you’re looking to scale your affiliate marketing program remember to think about which technology will best support your growing business.
5. Deliver technology poised to help you scale
One of the most important questions to consider is if your affiliate network software supports incremental revenue growth. If the answer is no or you’re unsure, this might mean you’ve outgrown your current system.
Robust affiliate network technology empowers business growth by seamlessly handling increasing traffic volumes without compromising the accuracy of data. It also proactively procures additional hardware which automatically shifts with traffic loads. As a result, you can feel confident to scale a performance marketing program to include additional verticals, new regions, partner network growth, and the flexibility to experiment with different campaign types (campaigns that could quickly outgrow your current platform’s load volumes).
Furthermore, stable and reliable technology enables you to enhance performance marketing programs and focus your efforts on building long-term profitable relationships, which are the core of a healthy affiliate marketing ecosystem.
6. Equip you with superior levels of support
A software provider should deliver more than just a set of product features. Ideally, they are a partner that supports you on multiple levels — from day-to-day needs, to long-term company goals. They are there when things need to be fixed or optimized. They are there to explain how to leverage new features. They help you get onboarded and ultimately, help your business scale.
The level of customer service to expect from a top affiliate network software provider should also include:
- A customer-first approach with processes in place that facilitate a true partnership, such as quarterly business reviews and a feedback loop to help guide the product roadmap
- Access to use cases on how others have successfully tackled issues. This allows you to take what others have learned and apply best practices
- Strong ratings in customer satisfaction surveys, such as Net Promoter Scores, indicate an increased level of customer loyalty
- Validation from customers in customer review sites such as G2 Crowd and Capterra
- 24/7 phone, email, and ticket support, plus a robust Knowledge Base and community forum for customers to tap into
If you are missing anything on this list, it’s time to start thinking about what matters most to you with your affiliate network software. There are viable options available to upgrade your system for scalability, reliability, and ultimately increased revenue opportunities.
If you are looking to try out a new affiliate network software, get a free, 30-days trial of CAKE by signing up here.