Four Tips Brands Can Implement Now to Win the Day In Q4
I had the opportunity to be a panelist on Awin’s recent webinar about how agencies are impacted by COVID-19 and trends we are seeing with our clients. As Senior Affiliate Program Manager at PartnerCentric, this inspired me to really think about the second half of this year and share some tips on how brands can start planning for the holiday season now to win the day, despite the uncertainty of COVID-19:
Invest in Affiliate
I know it’s scary when there are so many economic unknowns but due to affiliate marketing’s strong reputation as a high-ROI driving channel, we are seeing a trend where brands that are putting more budget into the channel are seeing more growth. Additionally, many brands are reevaluating their promotional strategy, either by altering the cadence or employing an entirely new strategy. Brands that didn’t offer promotions previously now see they have to provide real incentives to consumers to help them save money while also meeting their bottom lines.
Start Your Planning NOW
One of the biggest trends moving into Fall and the holiday season is convenience. Shoppers will want free shipping, strong promotions, more payment options (ex. buy now, pay later), easy checkout and store pickup options. We don’t know if brick and mortar stores will be open so focus on your e-commerce presence and make it as easy as possible for consumers to shop.
Just based on trends we’ve seen the last few months, retail brands have been growing and people are still spending. With the threat of a second wave of COVID looming, e-commerce will be there to win the day so brands should be making sure their digital presence is fully optimized and provides a strong user experience.
Focus on Efficiency
I predict that there will be more focus on targeting and customization in the next year. Affiliate publishers that can use the right data to target the right consumers will create new opportunities. Brands also have a need for more control in the form of robust compliance solutions and tighter compliance to mitigate the risk of ad fraud as more people are shopping online vs. going in-store. We are able to employ granular commissioning and attribution strategies by using new PartnerCentric tools and technologies to match clients’ budgets and make sure they aren’t spending on anything that isn’t beneficial to their programs. Additionally we have the capabilities to allow our clients to experiment on attribution models beyond last click to give control back to them so they have clarity over who they are paying out, what they are paying out on and can segment by SKUs and customer types.
Strengthen Relationships with Existing Publishers and Consider New Opps
Many publishers have seen major brands cut commissions completely when COVID started and due to this, they have offered more flexibility to those brands that need to pull back a bit or pay smaller commissions on specific segments. Even content and editorial publishers are more understanding based on what’s going on and while they historically work on flat fees, they are now more open to flat fee hybrid options that include commissions. There is more room for negotiation, especially when you have established strong relationships with these publishers and are open with them.
My goal is to help businesses excel and succeed despite any of the challenges that pop up and I hope that these tips help you thrive during Q4 and beyond. Have any questions? Get in touch.