EP 15: What the Growth!? How to Use an Affiliate Program to Increase Leads and Drive Revenue
Welcome to another episode of What the Growth!? My
name is Nick, I'm the Chief Executive at Visitor Queue and in this series we teach you super
practical tips and tricks to help your company grow. In this episode we'll be discussing how
you can use an affiliate program to increase the amount of leads and revenue that your company
generates this is a tactic the Visitor Queue has used from the very beginning and has led to
us generating some of our largest customers so let's get started you're going to want to start
by figuring out how much affiliates will earn by referring clients to you this could range
anywhere from five to fifty percent this entirely depends on the price of your product as an example
at Visitor Queue we use a 25% commission and we have found that this is enough to incentivize
affiliates with our customers paying us on average $100 per month the next thing you need to
do is consider if the commission will be perpetual or not again this should depend on the price of
your product for lower-priced products affiliates would be expecting recurring commissions and for
higher-priced products, they likely won't be.
At Visitor Queue we use the reoccurring model to
keep affiliates happy and to continue referring clients to us. Okay with these main considerations
out of the way you'll want to select an affiliate software to use to make tracking and paying
commissions to your affiliates easy this software will take care of all the signup generation of
referral links affiliate management commissions and more so ensure you choose wisely there are
a handful of great affiliate software out there so have your pick at Visitor Queue we use and
are happy with a software called Tapfiliate. Once your affiliate software is set up you
can start promoting your program well kinda you'll need to put together marketing and sales
resources to help your affiliates come up with banner ads brochures pricing sheets videos and
more to assist them with selling your products okay now we can start promoting your program
ensure you create a page on your website that talks about your affiliate program in depth
and invites prospective affiliates to sign up here is a great example of our affiliate page
that talks about all the benefits of becoming a Visitor Queue affiliate you'll also want to share
your affiliate program with your current customers I recommend creating an onboarding sequence that
invites new customers to the program 60 or so days after they become a client you never know
who will share your product with their friends family or peers bonus tip ensure that you wait 30
days or so to pay your affiliates in case any of their commissions came from payments that ended
up being refunded bonus tip number two ensure that you use terms and conditions to state
that they can't use search engine marketing to promote your affiliate program to ensure you're
not competing against your affiliates on Adwords, Bing, or other search engine marketing platforms
that's all for this episode ensure that you like the episode and hit subscribe to be
alerted of the next episode next month.
