Affiliates: Tips for Diversifying Your Affiliate Program with Rick Magennis, Bearcat Media (episode 187)
by April Buencamino-dyRick Magennis is the President of Bearcat Media, an affiliate management agency he founded to create high-performing affiliate marketing campaigns for their clients, and is one of the founders of affiliate tracking platform PMX.
Listen now for free:
Subscribe to Keep Optimising on your favourite Podcast App
Dive in:
[04:32] The different types of affiliates brands can incorporate into their strategy.
[07:12] Why brands should diversify their affiliate portfolio.
[08:20] Affiliate marketing comes down to building relationships.
[12:27] Having the right messaging to get responses from cold outreach.
[14:30] Identify conflicts of interest in affiliate partnerships.
[16:00] Where to start with your affiliate marketing in 2024.
[19:11] Listen to Rick’s Insider Tips!
Diversification of Affiliate Portfolios
Relying on a single type of affiliate can be risky for brands. Diversifying the affiliate portfolio by collaborating with various types of affiliates is crucial. This can include voucher codes, content creators, influencers, email affiliates, and technology affiliates. Having a diversified affiliate strategy mitigates potential risks from possible changes or challenges. By diversifying, brands can ensure a more resilient and robust affiliate marketing approach.
Building Strong Relationships with Affiliates
Strong relationships, trust, and collaboration are keys to a successful affiliate strategy. Brands must treat their affiliates as valuable partners rather than mere numbers. They have to invest time and effort in building relationships with affiliates. To create a foundation of trust, there has to be clear communication. Understanding affiliate preferences and addressing potential conflicts early on is also important. Brands that value and support their affiliates are more likely to build lasting and fruitful partnerships.
Focus on Video Content and Emerging Platforms
In the evolving affiliate marketing landscape, video content is a key trend for 2024. This covers platforms like YouTube and TikTok. Brands should adapt their strategies to leverage the influence and reach of video content creators. Rick suggests that brands focus on video content as it continues to grow in popularity. Staying ahead of emerging trends in content can provide brands with a competitive edge and access to new audiences.
Plus hear Rick’s Affiliates Marketing Insider Tips in the episode right now
Interview Links
PLUS Rick’s social media
Sponsored by…
Get Genie Goals free Affiliate Marketing for Beginners Guide!
What to understand more about affiliates but don’t know where to start?
Genie Goals have launched a free “affiliate marketing for beginners” guide – available to Keep Optimising listeners/readers without even having to complete a form – just go here to get it.
So you can finally get to grips with the channel, in a painless, jargon free way. While knowing you’re learning from the award winning, eCommerce experts who launch programmes for all business sizes, from the likes of Scamp & Dude and Only Curls to Karl Lagerfeld.
