Jim Nichols, Founder of Exclamation Marketing Solutions, outlines why we need to think beyond traffic in affiliate marketing. Jim is an experienced SaaS CMO with extensive international experience, based in the USA.
Words: Jim Nichols, Founder of Exclamation Marketing Solutions
Switching Lanes
We often lament that many marketing organisations don’t understand affiliate and view it as a tactical channel instead of a strategy. That’s certainly true, but I’d argue that part of the reason for this is that many affiliate marketers have one-track minds.
Traffic. I need traffic. How much traffic can you drive? Did I mention traffic?
Yes, driving lots of prospects and repeat customers to sites and apps has always been a big part of affiliate. Always will be. But focusing all your attention on traffic diminishes affiliate, making your company view it as a tactic rather than a strategy to drive highly efficient sales. If we work to redefine our roles in organisations as experts on performance-based marketing and bullet-proof measurement, we can increase our authority and budgets and chart a course for career advancement.
We need to think beyond traffic, asserting our value in improving what happens after we bring shoppers to the site. As affiliate experts, we are uniquely qualified to bring on-site strategies and tech that can improve results for all traffic. Here are four great ways to do that:
1. Raising Your Company’s Mobile Game
Many retailers saw half their holiday affiliate sales come through mobile in 2023. Yet many sites still deliver a lesser experience on small screens than via PC. For years, most brands have claimed to think mobile-first, but many continue to shortchange phone user experience. I asked ten people at different large merchants whether they thought their mobile experience was at parity with their PC experience. Six said no.
Advertiser and publisher leaders tell me they know they are missing a lot of credited sales because of poor mobile experience and measurement. Mobile apps add additional tracking and experiential challenges. Further, as brands increasingly look to affiliate to drive offline sales, a poor mobile experience is a severe hindrance.
If your company neglects its mobile experience, that probably means no one is focused on it. That’s your opportunity to advocate for upleveling mobile experience and measurement. Talk to your boss about your passion for mobile and how improving mobile experience can help increase sales across all channels. Do some research and become an expert on mobile design and measurement. Go to your boss with examples of bad experiences on your site today and ask for the authority to fix mobile.
2. Advocate for Performance-Based Conversion Optimisation Technology
There’s no magic number for a conversion rate other than higher than it is now. The average online store conversion rate hovers around 3%, according to Shopify. That means the entire company business is built on the actions of just 3% of the people who visit. What if you could make that 4%? Or 6%?
Many tech providers now offer conversion optimisation technology that can dramatically increase conversion rates, average order value, and more. Companies like RevLifter, Intently, and UpsellIt offer varying approaches to driving more – and more profitable – purchases from site visitors. Some of their solutions can increase traffic, but their secret sauce is getting more visitors to transact.
Ironically, it can sometimes be difficult for them to convince traffic-obsessed affiliate leaders to invest. But driving traffic with people who don’t transact is snatching defeat from the jaws of victory. On-site tools can be programmed with work rules to offer stretch-and-save deals, cross-selling, upselling, and interception of cart abandoners. What’s more, those tools can also help convert more of all traffic, not just affiliate. Best of all, you can buy much of the tech on a performance basis to manage profitability and help your company avoid big upfront costs.
3. Become the Company Tracking and Measurement Guru
Many online stores routinely misimplement the digital technologies that help brands understand the impact of their marketing channels. Sometimes, the problems are at the macro level, like incorrectly implementing notice and choice bars. Other times, tags are misplaced or inadvertently omitted on pages in the rush to update online stores multiple times a day.
Affiliate tracking platforms offer real-time data access and granularity that many other channels don’t. We can repair holes in our transactional plumbing by working with tech teams to audit on-site implementation and escalating issues when publishers report much higher activity than our reporting. It is not the sexiest work, but tackling this area will be of tremendous value to your organisation, reaching far beyond the affiliate “channel.” It’s an outstanding way to grow your responsibilities and visibility in an organization. Your affiliate platform may have tech and teams to assist your internal teams, and there are now platforms like Moonpull to help automate this process. Affiliate sales growth of 10% is not uncommon.
4. Integrate Affiliate Data Into Your Company’s Attribution Models
Many companies have implemented cross-channel attribution modeling to determine the incremental value of marketing touches. However, too many companies omit affiliate from this modeling because of an outdated perception that affiliate does not track all the data necessary for this analysis. That’s no longer the case, and most affiliate tools now offer APIS to make integrating your data relatively easy. Explain to your analytics team that affiliate needs to be a part of this kind of analysis – I’ll bet you’ll see that your measurable impact is far larger than the sales currently “credited” to the “channel.”
In Conclusion…
We are all working to raise our game and increase our profiles inside organisations. Caring only about traffic handicaps us in this effort. By tackling one or more of these opportunities, you can raise your profile and earn the recognition and authority you want.
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The tech industry is expected to flourish this year amid rising expenditure and the wide adoption of digital technologies. Hence, it could be wise for investors to buy fundamentally strong tech stocks Fuji Electric (FELTY) and Bel Fuse (BELFB), despite the macroeconomic headwinds. Keep reading.
The bank crisis and elevated recession risks have raised expectations that the Fed will start cutting rates later this year, helping lower bond yields and giving tech stocks a further lift. Also, given the industry’s solid long-term potential, I think quality tech stocks Fuji Electric Co., Ltd. (FELTY) and Bel Fuse Inc. (BELFB) might be ideal investments.
According to Peter Voser, the chairman of ABB, a Swedish-Swiss tech and engineering giant, the global shortage of semiconductors, which has caused disruptions to supply chains and impacted the tech industry, is being resolved. He believes that the worst of the chip supply crunch has subsided.
Moreover, despite economic uncertainties, the tech industry experiences robust demand. Gartner estimates that global IT spending will increase 5.1% year-over-year to $4.60 trillion this year.
Additionally, in recent years, the global artificial intelligence market has experienced substantial growth, largely due to the widespread adoption of digital technologies. This trend is set to continue in the future, and the increasing demand for artificial intelligence in various industries, such as automotive, banking and finance, and manufacturing, is expected to be a significant driver of market growth.
The International Data Corporation’s (IDC) Worldwide Artificial Intelligence Spending Guide predicts that the expenditure on artificial intelligence (AI) worldwide, covering AI-focused software, hardware, and services, will increase at a CAGR of 27% to reach $300 billion by 2026.
Take a look at the stocks mentioned above:
Fuji Electric Co., Ltd. (FELTY)
Headquartered in Tokyo, Japan, FELTY develops power semiconductors and electronics solutions in Japan and internationally.
FELTY’s forward EV/Sales of 0.82x is 49.1% lower than the industry average of 1.61x. Its forward Price/Sales multiple of 0.74 is 42.3% lower than the industry average of 1.28.
FELTY’s trailing-12-month asset turnover ratio of 0.89x is 11.7% higher than the 0.80x industry average. Its trailing-12-month return on capital of 8.08% is 15.2% higher than the 7.01% industry average.
FELTY pays $0.20 annually as dividends. This translates to a yield of 2.10% at the current market price, compared to the 4-year average dividend yield of 2.44%. Its dividend payments have grown at a CAGR of 25.1% over the past five years.
During the nine months that ended December 31, 2022, FELTY’s net sales increased 11.4% year-over-year to ¥690.78 billion ($5.21 billion). Its net income increased 16.1% year-over-year to ¥33.22 billion ($250 million), whereas its net income per share increased 14% year-over-year to ¥0.75.
FELTY’s revenue is expected to increase 69.7% year-over-year to $7.54 billion during the current fiscal year ending March 2023. Additionally, it has topped consensus revenue estimates in three of the trailing four quarters.
The stock has gained 3.9% year-to-date to close the last trading session at $9.76.
FELTY’s POWR Ratings reflect this promising outlook. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system. The POWR Ratings assess stocks by 118 different factors, each with its own weighting.
It has a B grade in Value and Momentum. The stock is ranked #2 in the 42-stock Technology – Electronics industry.
Click here to see the POWR Ratings of FELTY (Growth, Quality, Stability, and Sentiment).
Bel Fuse Inc. (BELFB)
BELFB designs, manufactures, markets, and sells products used in the networking, telecommunications, computing, general industrial, high-speed data transmission, military, commercial aerospace, transportation, and e-Mobility industries.
On February 6, BELFB announced that the Company has entered into an agreement and closed on a minority stake investment with Germany-based innolectric AG. innolectric was founded in 2016 through a closely held ownership group to be a platform-based business in the field of power electronics for eMobility and in particular the on-board fast-charging for commercial vehicles.
This passive investment will create a strategic alliance focused on EV on-board power electronics broadly, but specifically on next generation fast charging technology.
BELFB’s trailing-12-month EV/EBITDA of 6.70x is 50.4% lower than the industry average of 13.49x. Its trailing-12-month Price/Sales multiple of 0.67 is 75% lower than the industry average of 2.69.
Moreover, BELFB’s trailing-12-month EBITDA margin of 12.96% is 32.5% higher than the 9.78% industry average. Its trailing-12-month net income margin of 8.05% is 198% higher than the 2.70% industry average.
On February 28, 2023, BELFB announced a quarterly dividend of $0.07, payable on May 1, 2023.
BELFB pays $0.28 annually as dividends. This translates to a yield of 0.79% at the current market price, compared to the 4-year average dividend yield of 1.84%. Also, it has paid dividends for 23 consecutive years.
BELFB’s net sales increased 15% year-over-year to $169.20 million in the fiscal fourth quarter, which ended December 31, 2022. Its gross profit increased 33.7% year-over-year to $52.51 million. Also, its net earnings increased 75.3% year-over-year to $14.04 million, while its net earnings per common share increased 76.7% year-over-year to $1.06.
BELFB’s EPS is estimated to grow 95.1% year-over-year to $0.80 in the current fiscal quarter ending March 2023. Its revenue is expected to rise 7.1% year-over-year to $146.49 million in the same quarter. Moreover, it has surpassed the consensus revenue and EPS estimates in each of the trailing four quarters.
The stock has gained 133.1% over the past nine months to close the last trading session at $36.27.
BELFB’s strong fundamentals are reflected in its POWR Ratings. The stock has an overall rating of A, equating to a Strong Buy in our proprietary rating system.
BELFB also has an A grade for Value and Sentiment and a B in Growth and Quality. It is ranked first in the same industry.
To access additional ratings for BELFB’s Stability and Momentum, click here.
Consider This Before Placing Your Next Trade…
We are still in the midst of a bear market.
Yes, some special stocks may go up like the ones discussed in this article. But most will tumble as the bear market claws ever lower this year.
That is why you need to discover the “REVISED: 2023 Stock Market Outlook” that was just created by 40 year investment veteran Steve Reitmeister. There he explains:
- 5 Warnings Signs the Bear Returns Starting Now!
- Banking Crisis Concerns Another Nail in the Coffin
- How Low Will Stocks Go?
- 7 Timely Trades to Profit on the Way Down
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You owe it to yourself to watch this timely presentation before placing your next trade.
REVISED: 2023 Stock Market Outlook >
FELTY shares were trading at $9.66 per share on Friday morning, down $0.11 (-1.08%). Year-to-date, FELTY has gained 2.88%, versus a 6.52% rise in the benchmark S&P 500 index during the same period.
About the Author: Nidhi Agarwal
Nidhi is passionate about the capital market and wealth management, which led her to pursue a career as an investment analyst. She holds a bachelor’s degree in finance and marketing and is pursuing the CFA program.
Her fundamental approach to analyzing stocks helps investors identify the best investment opportunities.
The post 2 Top-Notch Tech Stocks That Won’t Break the Bank appeared first on StockNews.com
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Opinions expressed by Entrepreneur contributors are their own.
Whether you are an entrepreneur, manager, salesperson or any businessperson, having the trust of the people you serve is paramount. But you cannot earn their trust without first being viewed as a credible source of information and advice.
Credibility is the chain that firmly connects you to another person, so your ideas are respected, and your recommendations are given due consideration. There are four links in the chain of credibility. If one of them breaks, your credibility is broken — or was never secured in the first place.
Related: Every Brand and Business Person Should Do This to Ensure Their Credibility
1. Being known
In business, it’s not just who you know, but also who knows YOU. These days, you often don’t make the first impression with a new partner, prospect or job candidate. Google and LinkedIn do that. If your online presence doesn’t suggest you’re a somebody, you can easily be perceived as a nobody — especially with young professionals entering the workforce.
Being known requires you to proactively become visible, findable and relevant online. Take a moment to Google your name to see what others see. Then share (some of) your expertise that’s relevant to the people you want to do business with. Keep in mind, your digital credibility must be developed in addition to (not in place of) networking with other professionals.
I understand you may be fearful about putting yourself out there and getting backlash if you say something publicly online that doesn’t land well. I felt the same way at first. But I can tell you that significantly more people know who I am and what I’m about after I started posting more content, paying attention to SEO keywords and optimizing my LinkedIn profile.
2. Being likable
There are many components to likability. So, I’ll touch on only a few here. To be liked, start by finding a way to like others — and let them know you like them first. Always assume positive intent, unless or until they prove otherwise.
Show respect for their time, resources, family and culture. Be personable, not transactional, by showing empathy for their unique situation. And allow them to see your true, authentic self. Showing a little vulnerability can go a long way.
When it comes to your direct reports, however, being respected is more important than being liked. I’ve had a couple of department heads who felt it was so important to be liked by their staff that it compromised their ability to hold them accountable for doing their jobs. Suffice it to say, their team members underperformed. Their need to be liked led to their undoing.
Related: 5 Psychology-Backed Tips for Earning, and Keeping, a Prospect’s Trust
3. Being trustworthy
Before you can expect to be trusted by others, they need to see you behaving with integrity and fairness — always, in all ways. The information you share must be accurate, reliably sourced and relevant. Expect your competitors to try to sow seeds of doubt.
Being trustworthy is also doing what you say you’re going to do. In fact, take Tom Peters’ advice: underpromise and overdeliver.
Share the credit for your wins, and accept responsibility for your mistakes. Taking credit for others’ work, or simply not recognizing them for their contribution, is an immediate credibility killer.
Being trustworthy is not about morality, it’s about congruence. Bottom line, you have to walk your talk.
4. Being helpful
When price and product are equal, people prefer to do business with those they know, like and trust. When price and product are NOT equal, people STILL prefer to do business with those they know, like and trust. But that’s not enough to be credible in today’s marketplace.
You have to be seen as someone who knows how to help and cares more about serving others than serving yourself. During my years as a public image chair in Rotary International, I learned this concept as “Service Above Self.”
Being helpful professionally is about making sense of complex issues, providing clarity in the fog and collaborating with others to solve problems they haven’t been able to solve on their own. But resist your urge to immediately play the hero and save the day.
Albert Einstein was once asked, “If you had one hour to solve a problem, and the problem was the Earth was going to be destroyed, how would you allocate your hour?” He reportedly answered, “I would spend the first 59 minutes fully understanding the problem and the last minute actually solving the problem.”
Related: 4 Ways To Completely Destroy Your Credibility At Work
When others believe you fully understand the problem through their eyes, you’ll have the credibility to recommend the changes needed to actually solve the problem.
You might strongly believe that you are knowledgeable and friendly and that you always act with integrity and have the expertise to help others achieve their goals. The question is, do THEY know that?
To earn the trust of the people who are vital to your success, always build and maintain your credibility with them.
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