Today’s online market is built around affiliate partnerships. Whether you sell insurance, appliances, or clothing, an extensive network of affiliates promoting your products can double, triple, and quadruple your income.
Likewise, it can draw additional attention to your brand and do lots of valuable yet time-consuming things you would have otherwise had to do on your own. Affiliate marketing is one of the main booming digital marketing strategy.
But here’s the catch: affiliate campaigns are only as good as your affiliate tracking methods. Not being able to track affiliates can destroy your budget and ruin relationships with your marketing partners, as you would never know which of your affiliates draws particular traffic and what you should pay them.
Affiliate partnerships would be impossible without affiliate tracking. Luckily, solutions like affiliate link tracking software from Phonexa, part of the all-encompassing Lynx click tracking software, make it possible to collect the most detailed statistics on the affiliates’ marketing campaigns, including clicks, conversion, ROI, and the commission earned by each partner.
Affiliate marketing heavily relies on link tracking, but that’s not to say that link tracking is always the same. There are at least two ways to track affiliates and plenty of tools that you can use for this purpose. Ultimately, you will have to decide which link tracking method and software is best for your business.
Meanwhile, let’s dive deeply into affiliate link tracking to see how it works and how you can use it to boost conversions.
What is Affiliate Link Tracking?
Affiliate link tracking uses a unique URL containing the affiliate’s ID to track the performance of this particular affiliate. Every affiliate link includes an original domain followed by the ID of the affiliate – within the link, it may look like this: “merchantID=123” – which makes it possible to connect the lead and its further actions to a particular affiliate.
Aside from the affiliate’s ID, an affiliate link may also identify the affiliate network, the merchant, the affiliate program (if the merchant has more than one program), and where the click leads. This information is of tremendous value to both affiliates and advertisers: the former can track the performance of their affiliates (with all possible consequences), whereas the latter can make sure that they are paid what they earned (for this, affiliates can even use an independent tracking system).
Cookie Tracking vs. Cookieless Tracking
Cookieless tracking is considered more reliable as it eliminates a possible conversion loss if the cookie is expired or the clicker uses a different browser to make a purchase.
To mitigate the cookie-related risks, you can set the cookie expiration time to a high number – for example, 180 days or even several years. But even that leaves a chance that the clicker eventually clears the browser cache or uses a different browser.
That being said, the best solution is always an automated one. Up-to-date software like Phonexa’s Lynx platform simplifies the process to the point where you can install the link tracking product in a few minutes with no extra knowledge – just by following step-by-step instructions – and start leveraging your affiliate campaigns immediately.
The Opportunities that link Tracking Unfolds
Whether you sell cars, apparel, insurance, or anything else, you have every chance to grow your business with the help of link-tracking software.
More specifically, you can:
Link tracking software will allow you to easily compare the performance of your affiliate links, make informed decisions, increase click-through rate (CTR), and get a higher ROI with less effort. On the other hand, your affiliates will know that you are a reliable, result-driven advertiser.
Solutions like Phonexa’s Lynx are omnichannel and omnipotent. You will be able to place, generate, and track direct and deep affiliate links with only a few clicks while having the most detailed statistics to help you.
Beware the most Common Mistake with Affiliate Link Tracking
One of the worst mistakes you can make – the one that will nullify your tracking efforts – is to set up a single link for the entire marketing campaign, thereby making it impossible to understand which marketing channel brought what audience.
Make sure to create different links for each of the ads you use. Headers, sidebars, blog posts, emails – each of your marketing channels deserves a separate link to be tracked, analyzed, and then adjusted accordingly.
Affiliate link tracking is the backbone of today’s affiliate marketing, as it is the only viable way to track sales back to affiliates and reward them based on their performance. Take into consideration that 83% of marketing experts see affiliate link clicks as the most important metric to track, whereas 59% of marketers monitor affiliate program revenue based on clicks.
Likewise, link tracking is indispensable for optimizing affiliate marketing as it allows you to adjust your campaigns however you see fit based on the collected data. It is a sure way to increase your overall ROI, enhance your brand image, and avoid wasting time, energy, and expenses.
The market is abundant with automatic link tracking software solutions like Phonexa, so you can pick the one that fits you and start climbing to the top of the ever-growing U.S. affiliate market right away.