CRM stands for customer relationship management. This is where the initial, previous and current activities of your existing customers, leads and first time viewers are tracked and analyzed whenever they engage with your business resources. This includes situations where they view, share and comment on your publicly accessible and subscriber-only content, when they talk to your sales teams and support representatives, when they buy your products and take your promos among other relevant activities. Basically, everything that involves what they do when they engage with your Web properties, mobile apps and off-site content materials.
However, CRM isn’t only for customers. You can also optimize your affiliate campaign management strategies by learning the fundamental components of a cost-effective CRM workflow system. Simply put, you can customize CRM concepts and tools to best suit your management requirements for the campaigns of your affiliates for promoting your newest products and latest deals.
How Can Effective CRM Tactics & Tools Help Optimize Your Affiliate Campaign Management Strategies?
There are many platforms and applications that are designed to make it quicker and more straightforward for your business to build, customize, manage and analyze your CRM data. You can also use these tools and platforms to do the same things for the campaigns of your affiliates. You can track the results of their promotional activities for your products and service offers while their referral traffic is engaging with your content. You can also monitor the overall results of their promotional activities as your co-marketing partners through their conversion rates and commission payouts.
This can make it easier and simpler for you to identify problematic areas at your end. For example, your Web properties, mobile apps and organic materials might not be as enticing to the referral traffic of your affiliates when you notice that your CRM data points out low viewer engagement levels. Remember, your objective should be to communicate the authority knowledge, relevant expertise and trust-worthiness of your brand through your content. This especially applies to first time viewers and subscribers or leads who have yet to convert into paying customers.
As for your own affiliate sourcing activities, you can use CRM fundamentals to also track and analyze the relevant activities, engagement levels and click thru rates of your off-site affiliate sign-up materials in each of the current acquisition platforms that you use. This can enable you to pinpoint bottlenecks that are hindering you from achieving your monthly targets for growing your co-marketing partner network, which is vital for implementing sound affiliate campaign management processes.
Now back to the campaigns of your existing affiliates. Whenever they send their traffic to your offers, your objective should be to convert those first time viewers into subscribers or warm leads. It’s risky to try and immediately convert them into paying customers, especially if your business isn’t a household brand. That’s because there’s an infinitly small chance that significant numbers of first time viewers would be inclined to buy something from a brand that they just recently learned about. So instead, pitch them an irresistible offer that can allow them to try out your products before committing to a paid arrangement.
So this means CRM fundamentals can also help out with your CRO (conversion rate optimization) activities. By tracking and analyzing the viewer to subscriber conversions that each of your opt-in offers gets from the referral traffic of your affiliates, you’ll be able to improve your offers, opt-in copies and value propositions. This can even help you enhance the effectiveness of your sales funnel.
For example, if you get much better lead conversions from the referral traffic of your affiliates that spends some time viewing your organic content in your Web properties and apps, as opposed to what you get from traffic that’s directly sent to your opt-in offers, then you can modify your sales funnel a bit to test this out. This in turn enables you to verify your findings and strategically improve the conversion rate of your sales funnel. This is how CRM fundamentals can help you optimize your affiliate campaign management systems.
This also applies to your affiliate sourcing efforts. After all, your primary objective is to convert the first time viewers of your sign-up content materials into your co-marketing partners. At this point, they become your warm leads as they need to pass your vetting processes and pre-qualification requirements. Then, you can use this data to further analyze which of your leads successfully pass your verification procedures, allowing you to pinpoint traffic sources that you can focus on.
Again, back to using CRM fundamentals for tracking and analyzing the activities of referral traffic that your affiliates are driving to your offers. You should do this for monitoring the results of your follow-up subscriber-only content campaigns. Study the open rates and engagement that your email and SMS content gets from your existing subscribers. You should also segregate your subscribers and paying customers. That’s because your objective for your subscribers is to convert them into paying customers. On the other hand, your job when it comes to your existing customers is to monitor and optimize their satisfaction with your support services and products. That’s because your primary objectives are to prolong the lifetime value of each customer, generate repeat sales from them and entice them to send referral traffic or produce viral marketing results for your business.
Meanwhile, you should also monitor and study the activities of your returning viewers. Assess the percentage of returning viewers that gets successfully converted into subscribers by the same opt-in materials they originally landed on when they first visited your opt-in offers. This can allow you to identify certian areas that you can improve, in order to increase your returning viewer-to-subscriber conversion rates.
Also do this for both your subscriber to customer and returning prospect to affiliate conversion rates. Your primary goal at this point should be to implement custom CRO tactics and strategies to significantly improve the effectiveness of your opt-in and affiliate sign-up content materials.