This week on the Affiliate Marketing Podcast, Leigh Anne is joined by Wade Tonkin, Director of Global Affiliate Marketing. Fanatics Co., Ltd. In this informative conversation, Wade shares his insights on running a successful affiliate program. This conversation covers the importance of trust, education, and data-driven conversations to establish value. LeeAnne and Wade also discuss the resilience of affiliate marketing in times of uncertainty, gaining the trust and support of big brands, and moving away from traditional affiliate programs. Watch now to get all the points you need to grow your affiliate program.
Listen here for all the insights.
How do you go from $6 million in revenue to $100 million?
Wade said of his journey with Fanatics: I was mostly alone. I think he made a total of $6 million in his first year. This year, revenue is on pace to well surpass his $100 million mark. ”
Leigh Anne asks Wade to walk her through the process of finding new traffic sources and getting $6 million to $100 million. Wade replied: “One of them is that we can use technology to scale up our approach, have access to additional resources, and use a variety of technology tools to identify potential partners at scale. How do we do this programmatically? How do we reach a lot of people about different topics and do it effectively at scale? That's certainly one of the things. The other thing I would say is that as the program becomes more well-known, you can definitely deepen your relationships with bigger relationships, bigger partners, even bigger potential partners, and potentially move you further forward. about it.”
learning journey
Leigh Anne asks Wade to tell us a little about his learning process and the mistakes he made so we can learn from it.
Wade replies: You get too harsh opinions about different types of partners. For example, we were really, really against working through subnetworks. We were pretty control freaks. We wanted to work independently and with people, but the idea of going out and talking point by point to someone who was run like an old-fashioned discussion board about a topic that was very important to us. , I was endlessly frustrated. they are great partners. Method. If you can achieve them, people are still using them. They are still trusted. Even if you have a niche product or service, they can definitely attack you. ”
10 actionable steps to grow your affiliate program
Lee-Ann says: “While you're talking, I've been writing down something like a 10-step guide on how to grow your affiliate program from where you are now to superhero status. Read it back and let me know if you agree or not. I would like to know.
- Appropriate automation must be implemented. Therefore, you need to have the right tools to help you find the information and data you need.
- To attract partners, you need to double down on your brand investment in the program.
- Look at the connections and ecosystems that help you get in front of your target customers, and who your partners are in your ancillary ecosystem so that you can leverage that traffic source to actually get in front of the right customers. you need to find out.
- You need to move beyond the platform. So, like you just said, you have a huge affiliate with X, but you probably also have a lot of his SEO bloggers and his PPC affiliates that are bringing in traffic.
- You need to segment your customers and understand your niche. You were talking about there being a lot of sports fans, and there's actually a lot of women who are hardcore sports fans. How can I reach them and get in front of them?
- You need to look at other peripheral trends and outside of your industry. You said you look at gambling and adult and all these other industries and instead of comparing them, you look at what other technologies, tools and strategies they're doing that you can bring back to your own business. .
- You need to solve the problem. The most profitable and most successful affiliates just answered questions. In other words, you just need to be able to solve problems for your affiliates and partners, whether online or offline. But if you can find a way to solve their problem, convert customers, and make money, your program will grow on its own.
- Then number 8 said don't discount or ignore any kind of traffic. Look at how that traffic works. So cash back your loyalty, whatever it is. Don't say you're not going to work with networks, find the right way to work with networks.
- Next, find people and community marketers who are building first-party data and how to leverage it for your business to create things, offers, and campaigns that speak to people in your community, streamers, and others. I said I would find it.
- Let the data be your guide. Let data guide who, where, and how to spend your budget to capitalize on that growth.
LeeAnne sums it up: “Honestly, I think that's like gold. Here are 10 clear actionable steps that people can take from this podcast this week.”
If you would like to know more about the following, please ask.
- Network operations.
- Segmentation and niche targeting.
- The resilience of affiliate marketing in times of uncertainty.
Key segments of this podcast and where you can listen directly to them:
[11:15] Find new traffic sources.
[24:00] Solve affiliate problems.
[27:00] A time and place for partners of all kinds.
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