The Analytics as a Service (AaaS) Market value is currently around $15 million and is expected to increase to $69 million by 2028. This trend shows how important analytics are to digital marketers, including online creators, affiliate marketers, publishers, webmasters, etc.
When you run a marketing campaign, it is crucial to constantly track the performance of your affiliate marketing campaigns to gather insight from the results they drive. In fact, a significant number of marketers will agree on how important is to measure affiliate marketing campaign performance in order to make the most impactful decisions and drive more sales. In this article, we want to go further into marketing analytics and explain how important it is to measure the performance of your affiliate marketing campaign as well as understand the process as a vital part of any affiliate’s daily work, whether you are an experienced affiliate marketer or you just have begun your affiliate marketing journey. Keep reading to find out affiliate marketing campaign performance tips!
Why is it important to measure the affiliate marketing campaign performance?
– Why is it important to measure the affiliate marketing campaign performance? – Measure your affiliate marketing campaign performance as a newbie is crucial to understanding your affiliate marketing campaign effectiveness so that you can identify how well your affiliate campaign is performing. In order to transform insights into the success of your campaign, you need to ensure you measure the performance of your affiliate marketing campaign and follow these affiliate marketing tips for beginners:
Affiliate marketing performance tips
Continuing on there are the affiliate marketing tips for beginners you should follow in order to measure your affiliate marketing campaign performance successfully:
- Set your goals
First of all, you need to specify the goals of your campaign in order to be able to track the performance of the campaign and measure the results. Be Smart in deciding your goals and specify which metrics you need to measure the results on.
- Work with useful tracking tools
A tracking tool is a software system that allows you to track and store any piece of information added in a postback. This postback works as a link between the traffic source, the tracker platform and the affiliate network in order to track detailed data from the campaign such as clicks, conversions, conversion rates, sales, etc. Additionally, tracking tools provide you with a wide range of valuable insights which are vital to understanding how to measure the performance of your affiliate marketing campaign and optimize it accordingly.
- Understanding the KPIs and metrics
First of all, let’s differentiate KPIs and metrics because most of the time they are seen as the same thing. On one hand, KPIs are strategic metrics more focused on decision-making strategies, while metrics are specific indicators tracked towards a business goal. In other words, metrics provide context to your business activities and KPIs provide a specific and numerical metric to measure the performance of a defined goal. Then, if you want to measure and track the performance of your affiliate marketing campaign, first you should define your goals and then identify the metrics you need to measure the campaign’s success.
- A/B testing, analysis and optimize
With an increasing number of users accessing websites from mobile devices, A/B testing has become a must-do task for every affiliate beginner, digital marketer, publisher, webmaster, and content creator in order to improve mobile user experience and ensure the right mobile optimization. That means that A/B testing should be a top priority for affiliate marketers to ensure that their traffic sources, landing pages, ad creatives or websites are accessible and user-friendly on mobile devices. A/B testing includes testing different versions and elements of the website and landing pages in order to determine which aspects lead to better engagement and conversion rates.
5 key metrics to track the performance of your affiliate marketing campaign as an affiliate beginner
Regardless of your promotion method and traffic source, the following are the most critical metrics to measure and track the performance of your affiliate marketing campaign as an affiliate beginner or experienced affiliate marketer:
An impression is the number of times your banner ad, social media post, affiliate link or other promotional materials are shown by a visitor on the web page, landing page, social platform, etc. Therefore, obtaining an impression is the first step a potential customer takes with your affiliate marketing campaign. Mainly, this metric is useful to determine the effectiveness of your traffic source in reaching your target audience.
Clicks measure how engaged your target audience is with your affiliate campaign. At this point, traffic source and promotion methods are crucial aspects to consider. When your affiliate marketing campaign starts getting clicks, you should do the following:
1. Identify the source or platform from which you are generating more clicks.
2. Measure how many clicks are transformed into conversions.
3# Conversion rates (CR%)
Conversion rates measure the total number of conversions generated from the clicks tracked. This is a quantitative measure as it identifies how many clicks are converted into conversions. So, the more conversions you generate from clicks, the higher the conversion rate you will obtain.
Conversion Rate = Total number of conversions / Total number of sessions * 100
EPC is the average commission earned per click on your affiliate links. This metric allows you to compare the profitability of different campaigns considering countries, targeting, or conversion flow as a determining factor to switch traffic from the current campaign to another affiliate campaign in order to maximize earnings.
Revenue is the total amount of money generated from your affiliate marketing campaigns. Tracking revenue enables you to evaluate the overall performance of your affiliate marketing campaign and measure your profits.
How to measure the performance as an affiliate beginner of your affiliate marketing campaign with TORO Advertising
TORO Advertising’s proprietary tracking platform was developed by the Development team and encouraged by the Technical department. All teams work together to enhance our affiliates’ experiences with advertisers’ campaigns through our tracking platform. With our all-in-one proprietary platform, we offer a wide range of performance services and solutions for both webmasters and affiliate marketers.
Additionally, our dedicated account managers provide affiliate marketing campaign tips for beginners and newbies just because they want the best performance for affiliate marketing campaigns. On the other hand, our departments of Development and Technical are committed to ensuring that FireTrack is the most innovative tracking platform among other affiliate networks. In order to allow you to measure and track the performance of your affiliate marketing campaign and get the maximum profits, Firetrack’s tracking platform launches new improvements and features periodically.
How to measure the performance of your affiliate marketing campaigns becomes an essential question for every affiliate beginner. Set your smart goals before anything else because without goals there is nothing to analyze. As a first thought, you probably do not believe it is a necessary to-do task because there is nothing more crucial than identifying your goal to obtain the desired results. Believe it or not, some affiliate beginners might struggle to measure the performance of their affiliate marketing campaigns. Yet, what you do know now is that the procedure begins by determining the goals and the metrics through which will measure your performance.