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Advertising my product's referral program

by Monsignor
3 replies
My company's built a new product in the stock market analysis niche, planning to monetise it through monthly subscription fees from users.

The current advertising plan is to offer a referral program to niche bloggers, group admins etc so they can act as resellers and spread the word to their users in exchange for a percentage of the users' lifetime fees.

My question for the experienced members here:

1) what should I keep in mind when approaching potential resellers?

2) what is a good starting percentage to offer these resellers? we are currently floating around 20%.

Any other tips, advice etc is very welcome.
#advertising #product #program #referral
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  • Profile picture of the author visimedia
    #1 keep in mind, make them work once n get paid hugely forever, they'll send more biz to you (PM me for this)


    #2 make your price higher, give like most clickbank vendors give, 75% per month for life, or else you won't make it (resellers/ affiliate they r marketers n biz people)



    make sure you just do your best part to deliver the best product n maintain the best customer service


    doing that, I'll (n other affiliates too) be all ears to you
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  • Profile picture of the author ryanbiddulph
    More than anything Mon, be super duper generous in giving affiliates a hefty cut of sales and stress the benefits of partnering. Truthfully though; do it right by building bonds with top folks in that niche before pitching your affiliate opportunity.

    I block 100% of affiliate pitches from strangers because I get 'em all the time, and don't trust anybody who has not earned my time. Kinda like Gordon Gecko; I look at 100 deals a day and choose 1.... But for friends who served me and helped me sans asking for anything, when they reach out with any pitch, I listen long and hard.

    Be a friend, put in bond building legwork by helping folks out and over months, then years, you'll need a bat to keep 'em off of ya.

    Ryan
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  • Profile picture of the author powerhouseaffiliate
    Hi,

    Offering referral program is a great way to increase the sales of your business. Active resellers can get you unexpected number of clients for lifetime. Keep in mind that the more benefit you provide to the resellers, the better growth in business you can expect.
    In starting you should be more generous towards resellers and provide them with more than what you are thinking to offer now. There are many referral programs that offer more than 20% and the potential resellers decide carefully when choosing the offer. Let them know the benefits of being associated with your referral program.

    Good Luck!
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