The Power of Affiliate - Engaging with Consumers
The
Affiliate marketing channel, with its unique, high performance online
publishers, has the power to influence and connect with the new consumer at
critical points in their decision journey.
1. Catalyst
Once a
consumer decides they are in need of a product or service, they start with a
short list of options based on initial brand awareness. TV, radio, print,
word-of-mouth, online display advertising, social media and affiliate all play
an ongoing role in shaping a consumer's awareness of their brand options.
Due to
the influx of marketing noise we all experience, getting through the wilderness
can be challenging. Connecting with potential customers during the next phase
of their journey – Evaluation – has become more important than ever.
2. Evaluation
The
affiliate channel powers a variety of powerful publisher websites that provide
relevant, compelling information to the consumer as they evaluate their brand
options and add new ones.
For
example, search engine and shopping comparison publishers let users cross-shop
countless products and services all in one place. They are a key destination
for consumers who now desire more control over how they interact with and learn
about products. The influence of Content & Community publishers, a.k.a. the
blogosphere, is also on the rise. When a trusted blogger makes a
recommendation, their readers listen…and often convert.
3. Conversion
The
affiliate marketing channel is well known for its ability to close the deal –
it drives the highest conversion rates of any channel, as well as higher
average order sizes. But more than that, affiliate marketing is uniquely
aligned with today's consumer focus on value.
At a time
when 55% of shoppers say they always check for deals before making a
purchase***, online publishers are more critical than ever. Shopping, Coupon
and Deals publishers, who are committed to creating the most comprehensive and
organized collections of coupons, deals, promotions, and sales, help bargain
shoppers find an ideal combination of savings opportunities at the critical
point of conversion.
4. Post Conversion
Each time
a consumer interacts with a brand's product or service and compares the
experience with friends in their social network, they continue to builds
expectations that impact their loyalty. In rare instances, the post conversion
experience is so powerful that a brand is able to produce a lifetime of
conversions from a customer. However, more often than not, the next purchase
catalyst will trigger another decision journey for the consumer... and another
marketing battle for consumer attention during their evaluation process.
*McKinsey
& Company, 2009
** Forrester Consulting, 2012
** Forrester Consulting, 2012
5. Loyalty Loop
A
hyper-competitive marketplace and the evolution of the internet as a limitless
information source have dramatically impacted consumer buying behavior and
loyalty. Actively loyal customers, who not only stick with a brand but
energetically recommend it, are especially valuable and increasingly rare. Only
a handful of brands can truly command the consumer loyalty, bypassing the
evaluation phase of the consumer journey and creating a lifetime of
conversions.
Whether
out of laziness or choice overload, most consumers today are passively loyal –
despite repeat purchases, they remain open to alternative brands if given the
right reasons to switch. In today's digital world, even the most
widely-recognized industry leaders must win back the well-informed consumer
after every single purchase.
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