A healthy affiliate programme on average represents 30% of an iGaming brand’s acquisition efforts. This makes it both a popular and influential marketing channel for iGaming businesses.
Despite its prevalence, there are still many widely-held misconceptions about affiliate marketing that can undermine its successful use by iGaming operators.
In this blog, our affiliate managers dispel five affiliate marketing myths below that may be keeping your affiliate programme from reaching its full potential.
- More affiliates lead to more revenue
Revenue is a major focus for operators. Affiliate managers thus often focus on affiliate quantity, as opposed to quality, asking questions such as, “How many affiliates do I need in order to make enough revenue?”
Instead, operators should ask questions like:
- What commission structures create the greatest engagement for affiliates in my vertical?
- What promotions create greater engagement from affiliates and players?
- What types of creatives are most used by affiliates?
- You should only focus on your top affiliates
Brands often focus solely on the affiliates that are driving the most volume and value of players.
While nurturing strong relationships is key, operators must maintain a diversified portfolio with resources devoted to all tiers of affiliates. After all, you never know which unengaged affiliate can be your next top revenue driver.
- A programme can run itself
Affiliate programmes are not a ‘set it and forget it’ channel. The key to a performance-based channel such as affiliate marketing is ensuring your army of marketers are engaged, and continue to promote your brand in a prominent way.
This means providing affiliates with the latest promotions, games content updates, and even exclusive bonus offers to engage their players. Letting them know that you’re invested in their partnership means having a third-party endorsement that can help support your retention efforts.
- You can have the same affiliate offerings as your competitors
Just like players have many sites through which they can deposit, affiliates have many brands available for them to promote. Operators need to create unique selling propositions (USPs) that let them stand out from the competition. Affiliates, like players, are enticed with new offers, new games and unique promotional schemes.
Even if you offer similar products as another operator, your affiliate programming can still highlight your brand in unique ways that will appeal to affiliates and players. For new brands, a strong communications push upon the launch of a new product or programming can go a long way in building awareness and loyalty with your affiliates.
- Affiliate marketing is the only marketing channel you need
Affiliate marketing is most effective when it is accompanied by multiple channels. A multi-channel strategy creates brand awareness across different mediums, which can lead to stronger uptake by both affiliates and players.
Affiliates are more engaged with brands that have a strong marketing presence in other channels not only because it allows affiliates to be more aware of these brands, but also because affiliates know that these cross-channel efforts will help aid their own efforts in brand promotion.
Overall, there are many considerations to make when launching an affiliate programme. Our expert team agrees that the best guiding principle for operators is to focus on creating positive, strong relationships with affiliates. If you know your affiliates and what they need, you will be in the best position to help maximise the effectiveness of their marketing efforts.
Use this infographic as a helpful reminder of these five misconceptions.Ask our team of affiliate managers about how to assess your programme with Income Access Affiliate Programme Audits.