Well while spending on strategising your affiliate advertising, why not give it a global perspective? This will give your business exposure to international markets, which can help you gain greater insights and increased ROI.
But planning to go international is an expensive affair. You must define the most efficient tools for growing awareness, driving trials and stimulating customer loyalty. Every country has its own set of culture, consumers and media norms. Therefore these should be taken into consideration before strategising your affiliate advertising.
Whenever you are targeting a new region, there is always a particular tactic and resources needed from the region itself who can guide and help you form a set of rules that can make your business successful. Mostly there are two ways in which the companies approach the target region. Either by creating an in-house team of its own in the target region, hiring experts who have expertise and affiliate contacts or by reaching out to an agency that can help them connect to the beneficial affiliates.
This is vital and acts as the foundation of a successful Affiliate advertising strategy. In regions like the UK & US the Affiliate Advertising has been practiced for more than two decades, therefore it’s easy to reach out and identify the affiliate partners. But in other regions where affiliate advertising is new, there are few affiliates that dominate the market. Therefore you will be required to form a strong knowledge base about how they work eg. frequency of payment, currencies they accept etc. You must make a list of expert agencies that can make the process fast.
This is a major stroke in order to achieve a win-win situation in your Affiliate advertising strategy. You need to have an idea of your competitor’s move, how much are they bidding with affiliates to get them on board. You need to make sure your offer is slightly richer as per the market expectations or you will end up losing the support of your affiliates.
Now that you have done your homework it’s time to drive strong revenue from affiliates, Influencers and partners, Brand to brand partnership. Identify which type of partnership works best for which region and then roll with it for greater revenues.