When it comes to digital marketing, companies have more choices than ever before and it seems that there are new approaches popping up every day to accommodate a constantly evolving market. Brands that use the affiliate channel in conjunction with other channels can certainly benefit from diversifying their marketing strategy.
But where things get complicated is in determining which channels and publishers are performing best based on what matters most for your brand. It can also be challenging to determine how to attribute a sale in your affiliate channel if each channel is relying on its own source of truth. Other than the fact that it might zap a lot of your team’s brain power to assess performance from different channels, if you don’t have confidence in your numbers, it’s hard to know how best to allocate marketing spend in each of your channels.
One of the first and most important steps to assessing performance is to be able to see which channels are generating the most sales and/or value in the way that your brand determines is most valuable. This means that all channels need to be aligned with your source of truth when it comes to attribution of sales and conversions.
While a multi-channel approach allows your brand to continually iterate and test new ideas and new audiences, the best way to see if these channels are truly effective is to align all of your marketing activities to one source of truth. Rather than being limiting, having a single source of truth gives brands a lot of power to be able to look clearly into which marketing activities are truly benefiting their brand and make adjustments around strategy and budget accordingly.
Here are three ways that having alignment to one source of truth can benefit your marketing strategy and improve affiliate ROI:
1. Eliminate duplication or double paying for sales:
Over-paying or double-paying affiliates because of misaligned attribution is a common issue that brands face. If multiple channels are claiming credit for a sale, it makes it more challenging to find ways to optimize your marketing strategy. If you align all of your marketing channels to one source of attribution truth, you’ll lose less money to inaccurate payments, which will free up more budget for reinvestment.
2. Eliminate tracking siloes:
It’s hard to optimize your marketing strategy if you measure tracking performance on a channel-by-channel basis. Tracking siloes can cause a lot of cross-channel attribution misalignment, meaning that the reported results you get from the network or platform look much different from the results reported in your own internal analytics. With misalignment fogging your data, you can’t know for certain which sales are truly incremental to your business.
3. Improve efficiency and alignment:
When marketing channels are aligned to your source of truth, you know that each sale is truly incremental to your business. With the confidence that each sale moves the needle forward, you’ll be better able to reinvest in the channel to help you scale and take market share.
Regardless of the number and type of marketing channels you use, aligning all of them to one source of truth will help you make concrete budget decisions based on what matters most for your brand. Fuse by Pernix uses a server-side solution to credit sales from the brand’s source of truth to the affiliate platform. This gives you the confidence to make investment decisions in your affiliate program that benefit your brand and empower your partners to provide true value.