Navigate Digital hosted an event bringing together some of the brightest minds in the affiliate marketing industry with six insightful speakers who shared their knowledge and insight into how to make more for less.
In this talk, Sarah, a senior customer success manager at Impact.com, discusses the challenges faced by the partnerships industry and shares strategies to navigate these turbulent times. She highlights budget cuts, reduced team sizes, and changing consumer behaviour as key challenges. To address these issues, Sarah recommends focusing on six main areas:
- Strengthen partner relationships by being empathetic and ensuring partners have the resources they need to succeed.
- Utilize technology to optimize and automate tasks, such as outreach and performance reporting.
- Diversify partnerships, exploring new avenues like strategic B2B partnerships and social influencers.
- Deepen ties with existing customers, who spend 31% more than new customers, by understanding their needs and revising commission strategies accordingly.
- Be mindful of messaging, demonstrating empathy and understanding towards customers' current hardships.
- Use data from partnership channels to analyse consumer behaviour and make informed decisions.
Sarah also emphasises the importance of improving internal efficiency and leveraging technology to automate tasks in the partnership lifecycle. By following these steps, businesses can build strong, resilient programs and navigate the uncertainty of the current climate.