Key Takeaways
The affiliate marketing strategies that jumpstart early-stage revenue may need to be reframed to achieve incremental growth
Identifying and qualifying actionable KPIs for your program allows for innovative testing which can uncover powerful shifts in program resources
For the affiliate channel, unbiased analytics, a diversified publisher mix, and a trusted agency team increased YOY revenue by 116%
While numbers are compelling, managing a fast-growth brand with challenging proof of concept requirements takes a lot of trust and constant two-way communication
Overview
Sometimes, what got you here, won’t get you there. Startup brands innovate and disrupt to grow at the outset. Content marketing can stimulate brand awareness when you have a strong following based on consistent branding and engagement. But as you grow, you may need new, innovative partnerships to help get to the next stage. With smart affiliate strategies, you don’t have to choose between brand integrity and exponential performance. This is how PartnerCentric helped the Hims and Hers brands reach their ambitious growth goals with an expert affiliate marketing program.
“We had very stringent performance metrics for our growth programs, and we had a limited set of ideas we were committed to in order to reach those goals. PartnerCentric’s respect for those KPIs even as they proposed new partnerships and opportunities helped us test more courageously. In the end, these innovative solutions raised the bar and delivered the growth we needed.”
Katie, Hims
Approach
Hims has been with PartnerCentric for over five years and in that time we have proven to be a strong partner and advisor. The affiliate program we built and manage helps them see sustained success through a combination of consistent new ideas and a diversified partner mix. This strategic partnership laid the groundwork for consistent innovation, greater publisher diversity, and sustained brand expansion, which yielded 76% in YOY revenue growth from the affiliate channel. Because of our success growing Hims in the affiliate channel, we were trusted with the management of their other fast-growing brand, Hers.
Hims started out their program with a “content only” approach and successfully secured 85% of sales post-launch through meaningful content placements with the experienced PartnerCentric team at the helm. Despite initial resistance, the Hims team was willing to test loyalty publishers, something they worried might damage the premium nature of their brand. However, with strict KPIs established by the Hims and PartnerCentric teams, we created a formula calculator to project and measure clicks, reach and open rates to manage expectations from a particular placement. This required analytics expertise to develop actionable projections and performance KPIs to measure success.
Results
- Hims saw a 116% increase in revenue YoY and expanded the PartnerCentric relationship to include the expansion to the hers line extension
- Over the course of PartnerCentric’s long time management of the Hims program they have averaged an increase of 76% YoY growth in revenue attributed to the affiliate channel
- In the first 5 years of management productive publishers for Hims increased by an average of 41% YoY.
- Initially 85% of the program revenue was generated by content partners. As the strategy shifted the publisher mix became well diversified among content, email, coupon, and loyalty partners.
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To learn more about how PartnerCentric can strategically grow your business, contact sales@partnercentric.com.