Creating Customized Bonus Programs - Building an Affiliate Marketing Program
Jeff Gordon, founder of Interactive99 (http://www.interactive99.com/) talks about creating an affiliate marketing program. Follow these tips to increase affiliate activity and feedback.
- Spur growth by offering custom bonuses
- Seek affiliate feedback to make the bonuses significant
- At a certain point the top 10% of your affiliates will peak
- Think beyond a traditional monetary bonus
So in a lot of the affiliates programs that I have managed, many of them have reached stages of maturity and within those specific programs you’re going to find that 10% of your affiliates are driving 90% of the volume.
We all know this but what tends to happen with your top 2 affiliates is they reach a plateau. They’re not really growing, they’re driving good volume, you take care of them but you often sit back and wonder how can I grow these guys? How do I make that top tier bigger? But one very effective method to doing this is to create custom bonus programs.
Generally, you want to think about what is going to motivate this affiliates and what is going to drive them to the next level. You will do this by really thinking about what type of growth potential they have and sitting down with your manager and figuring out what kind of a budget you can put into a bonus program. And also be honest with the affiliates. Find out what money or compensation is going to take to double or triple their current volume.
It might be a bit more than you think but the growth could be significant. Bonuses don’t have to be cash either. Bonuses could be vacation, it could be a car, it could be anything that has worth to that specific publisher.
Really think about leveraging custom bonus programs to drive that volume you’re looking for in the top 10% of your affiliates.