May 12, 2023
3 Min. Read
Affiliate marketing has become an incredibly popular way to market and promote products and services online. It's a great way to reach customers and generate leads in a cost-effective manner, however, it's important to understand what metrics you need to keep an eye on if you want to be successful.
Data needs to be at the core of everything you do and the decisions you make in this business.
That's why, in this blog post, we look at the top 4 metrics every vendor must know in order to maximize their success with affiliate marketing. We discuss each metric and how it can help vendors just like you better understand your audience and how to optimize your campaigns for maximum impact.
By understanding these key indicators of performance, you'll be able to make informed decisions and grow your affiliate marketing business.
Let's get started!
This is the rate of how many people who visited your sales page go ahead and make a purchase. For example, if 100 people visit your page and 10 people purchase, your conversion rate is 10%. Before anything else, you need to be optimizing your sales page to maximize your conversion rate.
It's very important that the content on your sales page is engaging and relevant to your target audience. Make sure you test different copy, layout, visual elements and CTAs to see what works for your visitors. Additionally, use data-driven insights from analytics tools like Google Analytics for further optimization.
AOV is calculated by your total sales revenue divided by the number of orders. When you have a higher AOV, that generally means your offer(s), including upsell flows, are converting at a higher rate, and you can then offer more commission to your affiliates.
To increase your AOV, it's important to focus on offering value through discounts, free shipping, or upsells. Also, try testing different product bundles and offers that appeal to a variety of customers. And keep in mind to continuously monitor performance.
EPC is the average amount of revenue that affiliates make off of every click to your sales page. It is determined by your overall revenue, divided by each click to your sales page.
EPC is an important metric to track for both the affiliate and the vendor. It’s a great way to understand which affiliates are making your program profitable, as well as which of your offers perform best with certain affiliates.
This is the percentage metric of everyone that adds something to their cart, and then also makes a purchase. Cart conversion is an important metric to track because it can help you identify how effective your checkout process is. To optimize this metric, make sure that your checkout page and payment processing system are functioning properly and easy to use.
And by the way... Don’t just optimize your sales page.
Test & optimize your cart page and order form, as well, to make sure people actually finalize their purchase.
Tracking these four key metrics is essential for any vendor that wants to optimize their campaigns and maximize success. By understanding these indicators of performance and making data-driven decisions based on them, as an offer owner, you can learn how to tweak your campaings and stay on top of audience behaviour.
And remember... With Digistore24, you can easily monitor all of these metrics directly from your Business Cockpit.
Do you want to add your product to the Digistore24 Marketplace? Simply go here to register for free.