There are a lot of things that you need to know about affiliate marketing. One of them is the Affiliate Rewards program. It provides an exclusive savings benefit that helps in offering the valued partner and supplier companies with best.
The companies that are eligible for affiliate programs are given a company code. On that company code, you will have to create an account on the site. You can request for Affiliate Rewards Coordinator for the company. Mostly they are Marketing representatives or the benefit coordinators.
For affiliate rewards, you will have to keep some important things in mind. Below are the things:
- You have to create an account
- Then you will need to get the control number
- After that check the eligibility and learn what you can add
- Then visit a dealership
Do you feel like you aren’t getting the best out of your affiliates? It happens. It happens. It’s easier to keep your affiliates than it is to find new leads. Here are 10 ways to motivate them.
Register for the live webinar for several important affiliates to learn how Reversion can help you build your affiliate marketing strategy.
1. Increase commissions
Money talks at the end of it all. Although increasing commissions may seem like the easiest lever to pull it will require more cash to implement. Look at your margins, and compare them to your current commission rates. See if you can increase.
Keep track of the ranges in your particular vertical. commission rates for fitness range from 12% to 15%. It may be time for a rethink of your overall commission structure if your rates are not as high as what you see online.
2. Time-specific commission bumps
You can have a temporary bump in commission rates if you don’t have enough cash. This strategy is very popular in the holidays. However, you don’t need to limit it to the end.
Are there sales increases in your company at other times of the year? This is a great time to increase your commissions for a short period of time to take advantage of the increased activity. You might also experience a sales slump in certain months. This strategy can also be used to increase conversions.
This short-term boost should be communicated to your affiliates before it is too late.
3. Sales bonuses at random
It’s not exciting to get five extra dollars from your payday. Five dollars on the side of a road? This is exciting. This is because a bonus that’s unexpected can be more impactful. This serendipitous feeling can be leveraged by offering random bonuses to affiliates.
Let’s take, for example, that an affiliate usually gets a 20% commission on each sale. Send them an email with 20% extra and a note thanking them for their hard work after one transaction. It’s a once-off bonus that will give the affiliate confidence. They will also be more motivated to earn random bonuses in the future, now that they are aware of them.
You might consider setting aside one random bonus for each affiliate every year. You can reward it in a staggered manner and increase your network’s goodwill.
4. Send the product samples
Many merchants send free samples to affiliates as a way to get them started, but it eventually fades away. You might consider sending out a goodies basket if you haven’t done so in a while. This is either to keep your affiliates informed about your business or because of the “random bonus” idea.
Another rule of thumb is sending two or more of each item to the affiliate: one to keep and one to give away. This is a great way for your brand to get word-of-mouth exposure and you may also find a new partner.
5. You can provide content (images and text, videos)
It’s not easy to be an affiliate marketer. It can be exhausting to constantly create content for your own website. This is why it’s called “partnership”. Encourage your partners to post more often and provide content for them.
It’s not easy, and it can be time-consuming. However, you, as the source and brand, should be the one who creates the content that your affiliates should strive to produce. It will help your affiliates get more ideas by following your lead.
Do you need some inspiration? See our previous post on creative content ideas.
6. Co-branding
It can be very motivating to feel a part of something greater. This is especially true if you already feel proud to be associated. If you have chosen great influencers they will be! Keep the momentum going with co-branded pushes.
Consider a co-branded event if they are an influential person with a large following. You will pay most of the costs, naturally. These co-branded events can be a live meeting or a virtual one, such as an Instagram contest, Q&A, or live Q&A. They are a great way to make them feel like part of your family and connect them with your brand.
A simple landing page with your logo and name is a good option for smaller affiliates. This landing page is easy to make and will give your affiliates a sense of legitimacy. The landing page will be placed on your site. However, it should include your affiliate’s logo as well as clear messaging to welcome click-through visitors.
Example of a landing page with co-branded branding via AM Navigation.
7. An affiliate newsletter
It is always a good idea to give high-performing affiliates a spotlight. This will allow them to feel more part of the brand and give other affiliates something to strive for. A newsletter that is exclusively dedicated to your affiliate network is a great way to achieve this.
This newsletter can be filled with new products and services, as well as content ideas. You can also dedicate a portion to highlighting the success of an affiliate partner. If you have a few affiliates, this doesn’t necessarily have to be done every month. However, it can be done quarterly if necessary. Do a brief interview about who they are, how they draw customers in, and what their secrets of the trade are.
8. Bundles of gift content creation tools
Content creators can have unexpected expenses. Bloggers, videographers, and photographers all need software and equipment to help them run their businesses on social media. Gifting useful items can help you reduce their costs and give them more tools to create.
Do they allow images to be used? Corel’s PaintShop Pro is a Photoshop equivalent and costs $60 at the time of writing. Video editing? Vegas Movie Studio costs $50 and is a powerful piece of software that meets basic needs. Based on their content requirements (stock photos) Premium blogging software DropBox accounts with more features? You can give them tools to help you grow.
9. Gamification
Healthy competition is good for everyone. Although we mentioned the success of affiliates in our newsletter, there are other ways you can make your affiliate program “a game”.
You could, for example, create an X-streak bonus which unlocks a higher rate of commission. For example, four consecutive weeks could have at least one sale, unlocking a 10% bump. You can also create a “leaderboard” for your affiliates to view to compare their sales to others.
Mvix provides an example leaderboard.
Gamification is a common practice in sales departments around the globe. Many success stories exist, including one at Hewlett-Packard that saw an increase in revenue of up to 44% by using this strategy. If done correctly, it can be a powerful motivator for affiliates who thrive on competition.
10. Open communication
Insist on this point as it is the best way to motivate affiliates. Merchants are the main reason affiliates fail to produce. Dialogue is the key to a successful relationship.
Hold office hours so that affiliates know you are available every week. To ask your top affiliates how they are doing and to provide any support, hold monthly one-on-one meetings. Set up a virtual “suggestions” box where affiliates can anonymously give their honest feedback. To communicate with affiliates only, create a Facebook group and conduct surveys to find out what they want and how happy they feel.
Don’t forget positive affirmations! Your partners will be more inclined to work harder if you send them kind words and thanks.
Bonus tip: Attend in-person events
All the tips above can be applied to any business. However, we have also had great success with in-person meetups. This is a costly affair and will depend on the location of your business. However, if your company is in a major metro area or in one for any reason, hosting an event for clients, reps and customers can increase brand loyalty and enthusiasm.
Yelp has member parties that encourage usage and reviews. It has also helped to build a strong community of Yelpers. You can test the waters to see if your business is able to host such an event.
