Marketers need information in order to comprehend how the sector performs for their partner and affiliate programmes.Partnerize has launched its new Retail Partnership Benchmarking Tool to help brand leaders get the insights they need.This new web-based application enables partners and affiliate marketers to compare program metrics against crowdsourced industry benchmarks.By inputting just a few affiliate marketing metrics from their existing programs, marketers can leverage our new online tool to juxtapose each key metric with average data from other major partners and affiliate marketers.
Why a benchmarker
At Partnerize, our mission is to improve partnership efficiency and sophistication by applying data and advanced technology to every aspect of partner management.This simple tool gives brands access to more insights so that they can understand their brand performance in the context of vertical retail as a whole.The new tool was designed to enable members of the global partnership community to help each other by sharing insights and data.Brands are invited to participate irrespective of the network or platform products and services they use.At launch, we have one benchmarker that aggregates data for all participating retail brands.
We hope to obtain sufficient data over time for measurements and analyses to reflect variations in regions and categories.
How the benchmarker works
Is simple to use. You provide six easy program information inputs and then obtain a tailored report on the comparisons between your information. For delicate data types, instead of reporting an exact figure, the user decides from a set of ranges.The individualized survey study also offers marketing insights into which variables contribute to greater or lower results of the economic and other actions examined. For instance, the assessment shows how the specific products sold by a retailer, or the specific trading region of the retailer, can affect the outcomes of affiliate sales. Key results information analyzed in the instrument include:
- Percentage of total digital sales driven by partner programs
- Number of partners in their programs
- Return on ad spend for the partnership channel
- Average % of revenue paid as commission to partners
- Average conversion rate for partner marketing activity
- Share of partner-driven purchases made to new customers
As most retailers are measured on purchases rather than on metrics of mid-funnel such as lead generation and recurring payments, our primary focus is on retail sales and associated parameters in the Benchmarker.
To set the benchmarks at the launch, Partnerize worked with over 100 businesses volunteering to provide anonymous digital marketing metrics to their partner and affiliate.