4 Ways to measure Your Affiliate Marketing Business’ Success
Discover whether your affiliate website’s performance is up to par with these simple steps!
Launching an affiliate marketing business can be quite the rollercoaster ride. You always have to be ready to spring into action and alter your campaigns or content once the results start coming in. The challenges are endless, and at times, you may feel as though you are at the end of your rope.
Often times you may find yourself asking, “How can I be sure I’m on the right track?”.
The only way to figure that out is by looking at certain parameters such as the amount of traffic coming onto your website, how many of your target audience leave their contact information, or go through with their first-time deposit (FTD) with you.
Read our article below to figure out what aspects you should be looking at in your performance!
- What’s Your Trend
- Bouncing Back may not be a Good Thing
- Conversion and Retention
- Polls for Honest Feedback
- Going Forward
What’s Your Trend
A surefire way of examining whether your website or campaigns’ performance is on the rise or declining is by looking closely at where you started out and where you are today. You can also make comparisons on a monthly, semi-annual, or annual basis.
Then, look at key growth factors, including but are not limited to a growth in the number of leads reaching your platform or campaign, how many of them sign up for your services or made a deposit, and your player’s value. The last one focuses specifically on your clients’ journey after they have made their first deposit. A strong player would continue depositing over a long period of time, whereas a weak player would burn out quickly.
Bouncing Back may not be a Good Thing
Bounce rates can hit affiliate marketing businesses hard, especially when your entire platform is online. But wait. What is a bounce rate, anyway? And why is it so important to keep it at a minimum?
A bounce rate conveys the percentage of people who reached your website or campaign and decided to click the Go Back button or exit almost as soon as they have reached your creative. In other words, the more people click off, the higher your bounce rate will be. Even worse, search engines like Google might rank such websites as either low quality or a downright scam. This course of action will more than likely result in an SEO-related penalty, which any website or campaign owner would be wise to avoid.
Conversion and Retention
As stated above, two of the most telling vital factors are how many of your potential leads were you successful in turning into paying clients and how many of them you were able to retain over time.
Perhaps the biggest test is how many clients are satisfied enough to stay and seek the content or services you can offer them. It is not uncommon for people to get bored or give up on a pursuit, so the drop in the number of active clients is inevitable. It does, however, become an issue if the number of retained clients is low or becomes smaller as time goes on.
Polls for Honest Feedback
A more direct approach is to ask your clients whether they are happy with the service and platform you are operating for their benefit. Create short surveys consisting of about 3-5 questions max, providing multiple choice and open questions.
The direct feedback from your clientele will help you discern what they and your target audience are looking for when seeking out services just like yours. The surveys are also great if you want to know what your clients would like to provide them with or improve in the near future.
This method is preferable if you are looking to avoid as much guesswork as possible. You get straight answers to your consecutive answers and can improve your affiliate marketing business from there.
While your statistics may not be where you would like them to be right now, that does not mean there isn’t room for improvement. Examine your performance with a critical eye, and learn what you can do to better your platform and get the results you want.
Everything is within reach when you have the right tools and approach when it comes to your business.
If you would like to learn about digital marketing approaches and techniques that could take your affiliate marketing business to the next level, check out our weekly blog posts for how-to tutorials and advanced guides here!