In today’s dynamic business landscape, growing your company’s reach and revenue is a constant pursuit. Running an affiliate program is an excellent way to achieve this. It allows you to leverage the power of affiliate marketers to promote your products or services risk-free. But here’s the big question: Should you handle it yourself or hire a management agency?
Many brands are quick to start on their own and manage their programs in-house. That doesn’t necessarily mean it’s the right decision, though. Managing an affiliate program internally can be time and resource-intensive, especially if you lack affiliate marketing experience.
There are definitely some pros of in-house management including having direct communication with your affiliates to foster partnerships and the lack of agency fees. However, hiring and training staff can be just as costly. Plus, the learning curve can affect your partnerships, as well as your program’s overall performance. The truth is, unless you have a dedicated team with experience in affiliate marketing, you may miss out on industry best practices and opportunities.
But, is the cost of an agency management team worth the price?
It’s a popular question among brands looking to begin or grow a program. In order to help answer it, let’s go over the benefits of an agency management team.
- Cost: While there’s certainly a cost factor to hiring an agency that should be considered, it might not be as costly as you’d think. A good agency provides services at a lower overall cost compared to hiring, training, and maintaining an in-house team. This includes savings on salaries, benefits, and overhead expenses.
- Expertise: Agencies are filled with a team of affiliate marketing strategists and specialists who bring years of industry experience. That experience includes knowledge of essential industry norms and emerging trends, well-established partnerships with top partners, and firsthand expertise in optimal approaches.
- Network: Finding the right affiliate partners for your program is crucial to its success. Thanks to an agency’s established industry network, their team can find the right partners who are aligned with your specific goals.
- Technology: Just like finding the right partners is important, choosing the right technology can set your program up for success. An agency’s network doesn’t stop with influencers and publishers. With an agency team’s help, you can find the right network and gain access to advanced affiliate tracking tools and analytics software.
- Scalability: With success comes growth. Agencies can handle larger affiliate volumes and campaigns quickly. This helps make sure your program doesn’t lose momentum or outgrow itself.
A Hybrid Approach
For some businesses, a hybrid approach may work best. You can start in-house and, as your program grows, consider hiring an agency to optimize performance further. This could also help your in-house team free up time to focus on other core business initiatives.
Which Option Is Right for You?
In conclusion, the decision between in-house affiliate program management and hiring an agency boils down to your specific needs and capabilities. Both approaches can be successful, but the key is to align your choice with your business goals and available resources.
Choose in-house management if you have the resources, experience, and time to build and manage an affiliate program effectively. If you want to leverage expert knowledge, save time, and achieve quick results, it’s time to find an agency.
AIM Can Help!
If you’re still not sure if an agency is right for you, don’t hesitate to reach out to us. We offer a wide range of services designed to assist you in achieving your objectives. Whether you require consultations or are in need of full-service management, the AIM team is at your service.
