All successful modern businesses are built on a solid foundation of data collection and analysis. Doing so can allow businesses to evaluate customer preferences and behavior, as well as make predictions about future consumer actions. Affiliate marketers are no exception, making use of data can help them streamline and optimize their strategy to generate more traffic and conversions.
Simply tracking the number of sales you secure through your affiliate strategy isn’t enough, unfortunately. To effectively integrate data analysis into your approach, you will need to dive deeper into the numbers to get more detailed insights into how your strategy is performing. There are a number of tools available for affiliate marketers that can allow them to implement a data-driven approach. Let’s take a look at some and discuss what they offer.
Google Analytics is usually the first thing that comes to mind when people think of data analysis, and for good reason. Through its analysis system, Google revolutionized how online platforms look at and use data, it became a major factor in how strategies are designed and developed.
In 2012, Google launched Universal Analytics, its flagship tool that allowed users never before seen insights into customer behavior. Recently, Google confirmed the launch of its updated analytics system, Google Analytics 4 (GA4), which offers a range of new features and functions that improve upon its predecessor.
GA4 makes use of an all-new measuring model, based on events rather than page views. Interactions, including scrolling, clicks, searches, and engagement, are logged as events, offering a much more detailed view of customer behavior. Specific events and interactions can be tracked through the new user interface, with users able to set custom parameters and key performance indicators.
Additionally, GA4 is capable of tracking data across multiple platforms, including websites and apps. This is achieved by assigning unique IDs to users, allowing marketers to paint a clearer picture of how and where their platforms are being accessed.
Finally, GA4 can be used to produce predictive insights, through the use of a machine-learning algorithm. This powerful new tool can allow marketers to predict things like purchase probability, activity probability, and revenue estimates.
Email campaigns are a fundamental cornerstone of a successful digital marketing strategy. Mailchimp is an automated email service that can be used to create mailing lists, fully customizable templates, and fully automated campaigns. What’s more, Mailchimp offers an analytics service that can give users an idea of how effective their email marketing strategy has been.
Mailchimp’s reporting tools examine engagement, growth, and revenue across an email campaign, delivering users detailed statements on what is and isn’t working in their strategy. The service also allows users to compare how their campaign has performed against competitors.
Specialized audience analysis can draw up comprehensive reports on consumer groups and demographics, while A/B testing allows users to test different versions of email campaigns and decide which is the more effective approach as they move forward.
That’s not all, Mailchimp uses a sophisticated AI system to make intelligence-based suggestions. By examining over 2 billion data points, the system can make suggestions for product blocks and email content. MailChimp’s AI technology can also generate predictive insights, including purchase likelihood metrics, while it can assign high-value customers with the Customer Lifetime Value tag, allowing marketers to focus their efforts on areas more likely to generate sales.
For the most part, affiliate marketers use data to analyze their customers, optimize their strategy, and generate more conversions. However, sales aren’t the only thing data analysis can be used for, it is also extremely effective at detecting suspicious behavior and eliminating the risk of fraud. Fraud can have serious implications, not only can it impact financial returns and revenue, but it can also skew data and make proper analysis more difficult.
Forensiq is a long-established fraud detection tool. However, some new affiliate marketers might underestimate the value it can have for their campaign. Using state-of-the-art traffic analysis systems, Forensiq can scrutinize billions of requests, feeding these through its multi-layered system and flagging any suspicious activity. It can detect fraudulent behavior from bots, automated devices, and click farms.
Users can harness the power of Forensiq’s real-time fraud protection service, which works by ranking interactions based on their legitimacy and blocking scammers. This system uses its own process to learn and streamline future performance.
Finally, Forensiq can work to claim cashback for losses incurred by fraudulent sales, allowing marketers to significantly reduce the impact of illegal behavior.
We live in an increasingly data-driven world. As technology continues to advance and develop, all global industries must strive to implement data analysis in their approach. These tools are vital for affiliate marketers, with them they can analyze customer behavior, optimize strategy, and protect their businesses against fraud.