Some of the biggest brands you know and love today that have been around for decades haven’t always gone by the names they carry now. Even some of the most famous companies today have undergone a rebrand to evolve with the times. For example, did you know that Nike used to be Blue Ribbon Sports prior to 1971? Ever heard of BackRub? You probably use it almost every day… it’s only the most popular search engine on the net; you now know it as Google. Take a look at this infographic we found on Offervault highlighting some of the most famous rebrands to date.
As a performance/affiliate marketer, you track your conversions through an analytics platform to determine what’s working and what isn’t. But how well do you really understand exactly how your customers made it to the final sale? SaaS firm CAKE released a white paper explaining the concept of attribution titled The Hitchhiker’s Guide to Attribution: Mapping the Customer Journey for Advertisers which explains how advertisers can “know precisely which touchpoints produce the highest returns.” Touchpoints in this context refers to the affiliate, search, social, display, email, mobile, video, and shopping channels a customer goes through.
As the whitepaper explains:
At times, one marketing channel prevails as the reason a customer converts. Alternatively, other marketing channels help, resulting in shared credit across the media mix. It is the individual advertiser’s choice as to how they wish to attribute and reward the relevant marketing channels. By measuring the value of their channels, advertisers can pick and choose to invest further in ones that are steering customers toward a conversion.
There are different attribution models in place that depict where the credit is given for a conversion by advertisers, though as the whitepaper says, no model fits every situation so it’s important to mix and match metrics depending on your goal. Knowing which touchpoints are the most effective can allow you to put forth more effort towards that specific channel to maximize your ROI. But of course, there is still the concern of fraudulent traffic, though new tracking tools have made it more difficult for fraudulent attribution to get by. This paper can help advertisers truly understand the customer journey, and lead to more effective campaigns.
You can download the whitepaper HERE.
A recent survey conducted by Optimus Performance Marketing found that the majority of affiliate marketers are self-taught, with only 47% having any formal training prior to working in the industry. The other 53% said that they taught themselves through internet tutorials (42%), E-books (28%), blogs (19%), video tutorials (8%), and books (4%).
The study was conducted in the UK and Ireland among 1,036 individuals between the ages of 21 and 60, with the average participant stating that they had 3.8 years of experience in or around affiliate/performance marketing.
The survey also found that 73% of respondents feel that those wanting to get started in the industry could benefit from formal training, and feel that more needs to be offered in the form of educational courses at colleges and universities geared towards those who wish to make a profession out of it.
“When you work in a relatively new and ever-evolving industry, such as affiliate or performance marketing, it can be very easy to forget that the majority of people who don’t work directly within the industry are still extremely unsure about what it is we do. This doesn’t bode particularly well for those working in the industry when trying to scout the next generation of marketers for recruitment,” said Mark Russell, Managing Director at Optimus Performance Marketing. “From my personal experience of teaching courses on digital commerce to students at Plymouth University and colleges in our local area, I see on a regular basis how will and engaged young people are in our industry. It seems to me that an influx of similar courses and modules relating to affiliate activity around the country would surely only be a good thing in terms of awareness and growth?”
Hopefully this study can provide some encouragement for those wanting to get started with affiliate/performance marketing; it provides proof that just about anyone find success in the industry, you just have to want it.