How to Select an Affiliate Marketing Management Agency For Your Startup
Startups often have a limited marketing budget and affiliate marketing is a great way to make the most of it since you’re only paying for sales generated.
Using the right affiliate marketing strategy, you can reach your target market, increase exposure and brand awareness, track your results, and minimize your risks.
However, putting together a strategy, finding publishers with the right audience, and managing the affiliates aren’t only just a lot of work but also require expertise that you may not have in-house.
Working with an affiliate marketing management agency can help you optimize your budget and efforts. Here’s how to select the right agency for your startup:
Cash Flow and Infrastructure
Most agencies can put up a good front when they pitch a business but you should dig deeper to make sure they have sufficient resources, such as cash flow, personnel, and processes to properly manage your account.
The last thing you want is for an agency to scramble to put together a team with sticks and bubble gum when they realize they have won a big account and need to make it work. Without a tried-and-true infrastructure, your ROI could be in jeopardy.
Expertise In Your Specific Industry
Many larger affiliate marketing management agencies work with consumer brands, which can sound impressive. However, they may not have the experience or publisher network in specific niches, such as fintech.
Carefully review the candidates’ client rosters to make sure they have the right resources, relationships, and expertise to support your affiliate marketing needs – instead of just squeezing you through their processes that may not be proven to work for your vertical.
The Right Publisher Network
It’s not difficult for an affiliate marketing management agency to put together a big network of publishers but if they don’t have an audience or following in your specific niche, you aren’t going to get a high conversion rate.
Your affiliate marketing management agency should take the time to understand your target market and identify publishers that have the right audience so you can drive high-quality traffic.
Key Performance Metrics (KPIs)
Your affiliate marketing management agency should identify the appropriate KPIs and have the right tools to measure the effectiveness of your campaigns.
By knowing what works and what doesn’t, as well as which affiliates are generating the best results, you can fine-tune the campaigns and maximize your ROI.
Expertise In Emerging Technologies and Channels
Marketing channels and technologies are fast evolving so make sure your affiliate marketing management agency is using the latest tools and tactics to promote your brand.
The use of new channels and technologies should match your brand’s message, as well as your audience’s preferences and behaviors. Look for an agency with a wide range of experience so they can recommend the right approach.
A High-Level Strategic Approach
You need a cohesive strategy to guide your affiliate marketing efforts. Your affiliate marketing management agency should devise an approach that encompasses different strategies, such as content marketing, social influencer etc., that suit your brand.
As a startup, working with the right affiliate marketing management agency can help you reach the right audience, increase brand awareness, and build a loyal customer base.
Vibrant Performance has the right network and expertise to help startups in the fintech industry to build their affiliate network and promote their companies. Find out how we can help.