Tracking affiliate marketing is not an easy task, and you need to know the key performance metrics. That will help you determine what is driving traffic and sales.
There will be times when your affiliate programs work, and there will be times when they fall flat. Hence, you need to keep track of the real-time progress of your affiliate programs.
Here are some tips for tracking the real-time progress of your affiliate marketing programs.
Choosing Right Tracking Software
The market is full of affiliate marketing tracking programs. Like any other software, not all affiliate marketing tracking programs are best in their domain. You need to understand essential features and the tracking technology used in the software to get better insights into your affiliate marketing program.
Reliable and Accurate Tracking
The software should track crucial key performance indicators that include
Revenue –it is the most critical KPI of every affiliate marketing program. Many affiliate marketers are obsessed with other KPIs like clicks, traffic, and email subscribers without understanding how it affects revenue. The software gives you a clear picture of the revenue that helps you know whether your efforts are successful.
Clicks – the number of clicks is a crucial KPI as it helps affiliate marketers to know how much exposure the products are receiving in different marketing channels. The number of clicks can be compared to the number of orders you have received to determine how successful your affiliate program is.
Earnings per click -Earnings per click is a favorite KPI to know the baseline of the affiliate program. It tells you how your affiliate offers are doing, converting and what is the earning potential of the affiliate marketing program you are working on,
Transparency and Full control
Affiliate programs use various marketing tools like search ads, native ads, pop ads, display banners, notification ads, email advertising, and many more. The efficacy of a marketing tool depends on the target audience and the way you use these tools. As an affiliate marketer, you need to spend money on these tools to find out which work and which don’t; there cannot be any guesswork.
The affiliate tracking software helps you know where the sales come from. It will help you identify the best marketing tools for your affiliate prgram. In simple words, you can reduce your marketing expenditure by focusing on proper channels and get more conversions.
To evaluate the performance of your affiliate marketing program, you need accurate data. The software should provide you real-time reporting that enables you to convert prospects into paying customers. For better conversions, you need to know which channels and bringing in conversions. If you see some strategies are not working, you need to act swiftly and make changes to get more conversions.
Real-time reporting enables you to optimize your efforts, allocate your marketing budget effectively. And use your resources only on cost-effective marketing campaigns. If the software takes time to collect and organize data, you will lose many business opportunities. When you see how your marketing campaigns and websites perform in real-time, working with data and tweaking your queries becomes easy.
To sum up, good tracking software will present you with a more comprehensive and clear picture of your marketing campaigns and help you make timely decisions to tweak your affiliate marketing programs for better outcomes.