How to Maximize Revenue Generation Through Your Channel Marketing Program in 2024
It’s the holiday season — and the spirit of giving is in the air.
You may have already started buying heartfelt gifts for friends and family, donating to charitable causes, or volunteering your time to help others.
You know, getting in all the seasonal warm-and-fuzzies.
But have you extended this same kindness to your local affiliates?
(Before you click over to that eggnog recipe on the other tab… hear us out.)
It matters how you treat your channel partners.
And not just because ‘tis the season, but also for the revenue impact.
In fact, accommodating your local partners is the best way to increase revenue in 2024.
That’s because when you show affiliates you’re committed, they become more satisfied with their marketing programs — and extremely satisfied affiliates drive 55% more revenue than their unsatisfied peers.
So, what’s the best way to show your dedication?
The answer: Pay attention to what your partners care about.
When you listen to your affiliates’ needs and deliver on them through your marketing program, you can expect greater revenue generation on the local level.
How do we know?
We surveyed 3,192 affiliates to uncover the most requested program features.
Keep reading to learn more, or grab the full Local Partner Satisfaction Report to get in-depth insights.
Consider this the ace up your sleeve for mapping out your program priorities for 2024.
Top 3 marketing program features for affiliates
No matter how great you think your marketing program is, your affiliates have their own opinions. Ultimately, they’re the ones using these programs, so their thoughts have weight.
Sadly, many local marketing programs lack the features affiliates crave. So, by rolling out new enhancements, you can boost their satisfaction with your program and, in turn, increase revenue generation.
According to the data, there are 3 program features local affiliates want most:
1. Fund-matching
53% of affiliates want corporate to offer fund-matching features in their marketing programs.
So, just match your affiliates’ funds, and you’re good to go, right?
Not exactly.
Offering partner funds is a great move for your local marketing, but you can’t stop there. Most affiliates don’t have the marketing expertise needed to determine the best course of action for using these funds. That’s why you need to guide them toward the most effective tactics and how to best execute them.
Here are some ways to help your partners spend their marketing funds wisely:
- Incentivize the best tactics: Push affiliates toward marketing activities that drive the greatest return by offering higher reimbursements for these tactics. For example, you may offer 20% reimbursement for podcast sponsorships (podcast audiences are often too widespread to drive local results) and 100% reimbursement for paid ad campaigns that are more likely to convert.
- Leverage AI-powered recommendations: AI can provide your affiliates with data-driven marketing recommendations to guide them toward the most effective channels in just seconds.
2. Dedicated support
44% of affiliates want dedicated support within their marketing programs. That means they need someone they can go to with their most pressing marketing questions, problems, and concerns.
What we don’t mean is a chatbot or automated call system.
Your affiliates will get the most value from speaking with a real human being. That’s why it’s important to select a local marketing partner that provides one-to-one support for your affiliates.
Get the full scoop on how to boost affiliate satisfaction by reading the full Local Partner Satisfaction Report.
3. Social media support
The data shows that 36% of affiliates want more social media support in their marketing programs. This is no surprise, as organic social has shown to be the most effective digital marketing tactic. However, running a successful social media account can be challenging for local partners, as they often lack the time and knowledge needed to drive engagement.
Luckily, there are a handful of ways you can support your affiliates in their social media marketing efforts:
- Do-it-for-me programs: Take the responsibility of social off your affiliates’ shoulders with a do-it-for-me social media program. With marketing experts running the show, your partners can focus on running their businesses.
- Self-serve programs: These programs provide affiliates with resources and tools like branded content, conversation monitoring, and reporting to empower them to make data-driven decisions and post compliant content.
- Custom concierge services: Put your affiliates in contact with social media marketing experts who can assist them with strategy support, content creation, reporting, and more through regular calls.
Ready to boost revenue generation?
Your affiliates called — and now, it’s time to answer.
As you plan your 2024 strategy, now is the time to think about what your affiliates want most. Tap into the holiday cheer and give them the marketing program features they’ve been asking for. When you do, you can expect increased partner satisfaction, greater revenue generation, and, of course, those warm-and-fuzzies.
Dive into the full Local Partner Satisfaction Report for more insights on how to increase your affiliates’ happiness through your local marketing program.
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