In an increasingly competitive retail landscape, with every channel competing for a piece of the budget pie, partnership managers need to advocate for their channel and demonstrate that they are driving value. The key to doing so is the right actionable data that proves which partners are providing incremental value and helps uncover opportunities to optimize the overall partnership channel.
For example, there is often more to revenue than meets the eye. Legacy metrics such traffic, clicks, conversion rates and average order value can only show the efficiency of revenue, not its incremental value. Incremental value is subjective. For example, some brands may define it by revenue considered valuable to the brand that is unique to the partner, including no other paid media such as search, email, social or display. Ultimately, the definition comes down to what metrics the brand prioritizes, and the resulting data helps shed light on this high-value revenue that would disappear if the partnership ended.
The best way to address this problem requires brands to determine what makes one sale more valuable to a brand over another virtually identical sale. The question is, what data can marketers layer onto their revenue numbers that will help them see the true value of these partnerships beyond just revenues?
To discover the answer, marketers need a holistic understanding across channels and devices. In the past, affiliates were simply credited for being the last click and earned commission for the sale. However, today’s consumer journeys include many