You wake up early in the morning, get ready, and go to the office at 9 AM. Driving through the heavy traffic jams, total gridlock with other half-asleep commuters, and finally, you reach your office. Working 9 hours a day and waiting for the clock to ring at 6 PM so that you can go home and rest. How does it sound? Terrible, right.
What if you could make money at any time, anywhere – even while you are sleeping? You don’t have to answer to anyone, be your boss, and earn unlimited. That’s the concept of affiliate marketing. It is a very powerful tactic used by brands or companies to drive sales traffic and generate online revenue.
As an affiliate marketer, it could be very beneficial for you. You can earn the commission whenever someone performs a particular action on your referral links, according to conditions that you set.
Just like every digital marketing strategy need some tools, you will also need some tools to monitor your affiliate marketing campaigns. So today, in this article, we will discuss some affiliate marketing tools and why you need them.
Affiliate Marketing Tools
There are a lot of affiliate marketing platforms, both free and paid. Following are some of the tools that you can use for affiliate marketing:
Why do you need Affiliate Marketing Tools?
Following are some of the reasons to use affiliate marketing tools:
- You can easily identify the influencers, affiliates, employees, and other advocates you want to partner with. For example, if you are a merchant, you could be selling a product or service and want someone to help you sell your product. It could an influencer or an affiliate marketer with a website that drives a lot of traffic to their site and does sell a reputable brand, etc.. So you need an intermediate that can introduce you to these sites, and CJ (Commission Junction) or other marketing platforms can help you in it.
- You can contract with affiliates and track the conversions and traffic. For example, if you use CJ or any other platform, you have to set some terms and conditions to work with a particular affiliate.
- With the help of your affiliate, you can gain high website rankings also.
- These tools help you to track CPM, CPA, and CPC cost models. In affiliate marketing, you are earning per-click EPC. For example, most platforms measure EPC from 7 days to 3 months. You can also analyze what’s the cost-per-click is, like you do on Google Search. You can measure that in the affiliate tool.
- The chances of fraudulent clicks, conversions, and impressions get eliminated by using an affiliate marketing tool.
- You can influence your customers throughout their buying process. You can set up different promotion campaigns based on their product choices, which will increase their trust and loyalty towards your brand.
Commission Junction (CJ)
***I’m going to use CJ as an example to explain how an affiliate marketing tool works.***
Like any other digital marketing platform, when you log in to CJ, you will have your own settings to work on. The whole idea of an affiliate marketing tool is to enable you to manage your publishers – who do you want as your publisher, you do you want to sell your products or services, etc.. You want someone relevant to your brand who has the target audience similar to yours.
- Manage by Program terms: When you go to Publishers -> Manage by Program Terms, you can see all the different program terms available. You can set up your own program terms for any publisher. CJ will act as a broker between you and your publisher. It has different templates you can use to set up the terms. If the publisher is performing well, you can offer them a better program term.
- Manage By Status: In this section, you can see all the different organizations you have in your network. The list will consist of all the publishers and affiliates. You can check who’s selling or not selling your product/service by looking at all the publishers by program terms or by status. You can see their term status whether they are active or not, their earnings, what they have sold in a particular period, etc.. In short, you can analyze how your publishers are performing.
- EPC: In the Manage By Status section, you will see the EPC column. It stands for Earnings Per Click, but in reality, it means earning per 100 clicks. In CJ, it calculates how much your publishers are earning per click. Your publishers can’t make money if they can’t generate clicks.
- Groups: In this section, you can group your publishers based on geography, publisher status, promotion, etc..
If you want to build your brand status, then you should have more publishers. The more publishers you have, the better the consumer base and traffic you will get. And to manage all of this, you will need a reliable, scalable, and easy-to-manage affiliate marketing tool or platform.
So, this was all from my side regarding why you should use an affiliate marketing tool. If you have any other suggestions, please let me know in the comment section.