Mike Bullen is a specialist in affiliate marketing, with some amazing experience in high end affiliate campaigns under his belt.
This year he has launched his own consultancy Eurisko where he specialises in lead generation campaigns. Mike and I are planning some joint services to help smaller businesses benefit from affiliate marketing.
I asked Mike some questions about affiliate marketing and what leads to the most effective campaigns.
Glenn: In your experience, what kind of affiliate offers attract the strongest affiliate followings?
Mike: Affiliate marketing is going through a transition period right now as affiliates are focusing on how they can turn their website into a legitimate full-time job rather than just a hobby site or side earner.
As a result affiliates are looking for offers that have a high ‘earnings per click’ (EPC). The ‘earnings per click’ is a measure of the average revenue received from each click on your website to a merchant offer. There are two characteristics that can increase the EPC for a particular offer and they include either a high paying commission per lead or a very high lead conversion rate.
Glenn: What are the affiliate offers that you have seen that are most successful at converting to sales or leads? Why have they been so successful?
Mike: Competitions and brand promotion campaigns are good at driving leads while credit cards would be one of the most popular sales products.
Credit cards campaigns offer a commission rate of between $25 to $190 per lead but a conversion rate of under 5%. While we see some of the competition and brand campaigns converting between 40% – 50% from click with a commission rate of under $2 per lead.
The success rate of the Merchant offer is really impacted by the creative and a simplified sign up process. When looking to build leads, merchants should make the sign up process as simple as possible. By that I mean that the sign up form should have a limited number of fields, just enough to begin a relationship with the lead.
Glenn: Can a good banner make a campaign, can a bad banner destroy one?
Mike: Definitely, good creative should have a strong proposition and great call to action. Historically this has been difficult to do with GIF based banners as you’re trying to sell the brand, the message and call to conversion in 5 slides over 15 seconds.
Some of the best banners that I’ve seen are interactive flash banners. The user can engage with the brand and get a better understanding of the product. Rather than feel they have been sold the product, users feel like they have been engaged and understand the product a little more. Banks are good at this with some fun examples from:
ANZ What Do You Want
NAB Portfolio PackageSimple, interactive and engaging.
Glenn: Thanks Mike, your insights are appreciated.