These days, data is essential when you are looking to measure the effectiveness of your marketing efforts. When investing marketing dollars, it is important to understand which channels and campaigns are performing best, based on your chosen metrics of success. This requires the ability to track and report the customer journey to identify where the customer came from, and how and when they ultimately converted.
Understanding the customer journey to craft a seamless experience using data is becoming the essence of digital marketing, according to Forbes. Adding to that, eMarketer reveals that better reporting, measurement or attribution command the most attention in 2018, according to US senior marketing professionals. That said, tracking traffic with advanced analytics tools is becoming more important than ever since it allows you to make well-calculated marketing decisions.
Since you need to collect and analyze data to fine-tune your marketing strategy, a turnkey tracking software with financial performance-based metrics should be something to consider if you are looking to improve your conversion rate. This type of software is easy to use but is also regularly updated to improve user experience (UX).
Read on to find out how affiliate tracking can help you solve your measurement problems and save time and marketing dollars.
It shows and calculates transactions for you to view and approve.
Though there are countless digital marketing tracking platforms out there, like Google Analytics, very few provide you with the data necessary for a financial affiliate program. Most analytic tools lack the capability to provide you with useful data such as CPA (Cost per Action) commission, transaction status, current balance, and approved sales figures.
In addition to providing insightful data, a good financial affiliate marketing software lets you visualize the performance of important metrics over time and allows you to review your payouts on a daily, weekly, monthly, and month-to-date basis.
It has a pre-built platform with an easy-to-navigate dashboard.
The advantage of a platform with a well-designed dashboard is that it lets you look at all key figures and view a summary of the account across all affiliates, which allows you to keep track of who is performing well and identify your top affiliates. In addition, period comparison lets you view the performance of key metrics of over time and identify your best creatives across all your products/services.
It provides traffic tracking, so you know your customer’s experience.
It’s important to understand what your customers are doing when something triggers the need or desire for your services. According to Google, “75% of marketers agree that lack of education and training on data and analytics is the biggest barrier to more business decisions being made based on data insights.”
Having a turnkey solution, which provides you with advanced analytics for insight-driven marketing, allows you to see which creatives are resonating with your customers by type and status, and makes it easy to know where your customers are in the buying cycle. This means you can keep pace with them, so you know if they are at the awareness, consideration or decision stage of their buying journey, and help them move from one stage of the sales cycle to the next, which can go long way to improving your conversion rates.
There Is Integration and Customization Support
If you have worked with affiliates in the past, then you know that they can provide their data in various formats, which can make it hard to integrate since different formats are not always compatible with all platforms. Keeping this in mind, if you do not want to transcribe the data manually, it is important to have an affiliate platform that supports automatic integration to make sure the data is properly converted. Share Results supports custom integration that converts data of all affiliates in a compatible format.
A turnkey financial affiliate tracking solution collects and provides you with data on standard traffic, transactions, and earnings analysis, but your business might need different metrics and/or visuals, so it is possible to complete an affiliate marketing management program with account management capabilities to customize your reports.
Consumer insight and data are becoming more important than ever. Therefore, if you are looking to improve your conversion rate, a turnkey financial affiliate tracking software with financial performance-based metrics is certainly something to consider, as it allows you to work smarter and not harder.