When it comes to affiliate discovery sometimes it can feel like you’re spending hours of time researching for new partners, but only to bring them in to see disappointing, or no, increase in your program sales. Just because an affiliate has traffic coming to their website, doesn’t mean these customers will convert to your product or service.
Without a clear understanding of the competitive landscape you’re working in, you’ll struggle converting customers from your competitors – as you’re simply flying your affiliate program, blind.
Affiliate Manager Hub – insights that help you scale and grow
The Affiliate Manager Hub offers marketers access to a powerful competitive conversion benchmarking tool, as well as helps program managers identify new partners who are already successfully converting customers to their competitors. Konnecto offers a complete overview of the competitive market and with that data in hand, affiliate managers can glean vital information such as industry benchmarks (total conversions and conversion rates) of their competitors in the same niche as well as understand their share of voice within their niche based on their competitors’ actual publisher conversions.
Having a clear gap analysis of each of your competitors, their conversion data and marketplace coverage, can help program managers identify areas of focus and how to target specific growth areas to expand their partner segmentation mix.
The Affiliate Manager Hub offers affiliate marketers a comprehensive overview of the market, helping them make informed decisions about what affiliates to spend time on recruiting and which ones to steer clear of as they won’t necessarily convert real sales.
The Importance of having open Market Context
Having a clear understanding of the market context allows brands to benchmark their performance against industry competitors and understand exactly where they are positioned in terms of market context which changes all the time based on a number of economic, seasonal or other mitigating factors, such as Google’s recent SEO updates which impacted a drop in traffic on certain affiliate sites as an example.
By understanding how your program is performing, and if that’s better or worse than your nearest competitor, can provide you with early intelligence to change tactics and keep yourself ahead of the curve. This insight and early detection of customer conversion changes is essential for identifying strengths, weaknesses, and opportunities and threats for your affiliate program growth. Without this context, brands may misinterpret their performance, leading to misguided strategies and missed opportunities as they are focusing time, effort and budgets in all the wrong places.
Affiliate Outreach vs. Optimization – your timing is key
Determining whether to focus your efforts on more affiliate outreach or monitoring and optimization with existing partners is another critical aspect of program scale as you move through your affiliate lifecycle. Knowing when to onboard more or slow down the pace and double down on relationship building is an important decision for any affiliate manager.
Konnecto’s Affiliate Manager Hub helps brands make this decision by providing an efficiency score and coverage analysis. The efficiency score indicates how well a brand is converting potential customers compared to competitors, while the coverage analysis shows the extent of the brand’s market reach right now.
Here’s why this data is important for you to understand and use tactically in your program:
- If the efficiency score is low, it may be time to optimize existing efforts with publishers already converting to your brand.
- Conversely, if coverage is lacking, an increase in your outreach efforts may be necessary to expand your market presence and publisher membership.
Using Gap Analysis to get ahead of your competitors
Having access to competitor gap analysis is a powerful tool for uncovering new or previously missed growth opportunities. Konnecto’s Affiliate Manager Hub offers a detailed gap analysis that evaluates each competitor’s efficiency and coverage in relation to the market as a whole.
This analysis helps brands identify areas where competitors are outperforming them and where there are untapped opportunities. By addressing these gaps, brands can improve their market position and drive higher conversions.
Konnecto’s Data and Insight USP’s offer a unique advantage for affiliate program managers
Konnecto’s Affiliate Manager Hub stands out with several unique selling points:
- Complete Market Overview: The hub provides a comprehensive view of the market, including industry benchmarks, share of voice, and conversion breakdown by competitor.
- Gap Analysis: Detailed analysis of each competitor’s efficiency and coverage helps brands identify and address competitive gaps.
- Market Size: Understanding the market size helps brands gauge their potential and set realistic goals.
- Market Context: The hub provides context to a brand’s results, helping them understand if changes in conversion rates are unique to them or part of a broader market trend.
- Drill-Down Capability: Brands can drill down from a full market view to a deep dive into each affiliate or competitor, gaining granular insights for more targeted strategies.
Konnecto’s Affiliate Manager Hub is a game-changer for affiliate program managers looking to enhance their competitive edge and oustrip their competition offering insights that are unique to conversion data vs traffic assumptions. By providing a complete market overview, detailed gap analysis, and actionable insights, the Affiliate Manager Hub empowers brands to make better management and commercial decisions, optimizing their time, resources and marketing strategies, to drive higher sales conversions.
In a market that is constantly changing, having access to a robust data intelligence tool is essential for staying ahead of the competition and achieving long-term success.
Get a FREE gap analysis – book a call today!
