Sep 7, 2022
Too many B2B companies are missing out on 360-degree search-based affiliate marketing, however, today’s guest knows all about how to find success with affiliates. Charles Groome is a marketing and advertising leader and the Vice President of Marketing at Biz2Credit. Charles shares how to start working with affiliate partners, how to double your performance without doubling your costs, and how to uncover new marketing opportunities.
Takeaways:
- Affiliate marketing is an extremely profitable channel for marketers because it is completely performance-driven. The new crop of affiliate marketers have built on what came before them and are now able to achieve great results.
- One of the reasons many brands don’t utilize affiliate marketing is because it is not talked about as often as something like search. However in certain spaces, especially in B2B, it can be very effective.
- When set up right, your affiliate marketing can build brand reputation, drive direct traffic, and have the affiliate partners bidding based on performance.
- While influencer marketing gets all the buzz, it’s almost the same concept as affiliate marketing, just without driving the performance results. This is why in B2B, influencer marketing can be a real waste of time.
- When setting up your affiliate program, check your own search accounts for the websites that show up on your keywords. These websites are already paying to be there and are a natural affiliate opportunity because you can get the traffic that they’re paying for.
- Find the top 3 potential partners and negotiate with them in parallel to determine the market rates and effective CPC. Also, be open to affiliate partners that have organic offerings additionally because these can be very profitable as well.
- You need a direct relationship with the affiliate and access to their marketing department so that you can set up the attribution to track your ad spend. Getting an API integration between your CRM and the affiliate’s could be the best investment that you make for affiliate marketing.
Quote of the Show:
- “The marketing department, to me, is really the brain of the company. It’s about thinking through what is the company trying to say, how are we trying to convey that, and what’s the best way for us to actually get that done” - Charles Groome
Links:
- LinkedIn: https://www.linkedin.com/in/charlesgroome/
- Twitter: https://twitter.com/CharlesGroome
- Personal website: http://charlesgroome.com/
- Biz2Credit website: https://www.biz2credit.com/
- Biz2X website: https://www.biz2x.com/
Shoutouts:
- Impact - Affiliate Marketing platform
- Brand Thinking by Debbie Millman
Ways to Tune In:
- Amazon Music: https://music.amazon.com/podcasts/5f9c8c1a-fbf5-43c7-b7eb-958674860156/3-minute-marketing-with-chris-mechanic
- Apple Podcast: https://podcasts.apple.com/us/podcast/3-minute-marketing-with-chris-mechanic/id1444680950
- Spotify: https://open.spotify.com/show/1OCuYchAG8TlGv82YARRhy?si=c4050290cbb54c65
- Google Podcast: https://podcasts.google.com/feed/aHR0cHM6Ly9tb3JlbWFya2V0aW5nLmxpYnN5bi5jb20vcnNz
- Listen Notes: https://www.listennotes.com/podcasts/3-minute-marketing-with-chris-mechanic-rdU1oESluqs/
- YouTube: https://youtu.be/wt9eJL07ycI
Performance Marketing Insiders is sponsored by WebMechanix, the performance marketing agency that makes you smarter. Learn more at https://www.webmechanix.com/
Performance Marketing Insiders is produced by Ringmaster, on a mission to create connections through B2B podcasts. Learn more at https://ringmaster.com/