At No Cost to You?
All businesses need a way to gain traffic, after that, it’s all retention and repetition. Most people understand this. There are strategies you can use to make people want to promote your business. Beyond this, you can create income for yourself and the other party.
Let me explain.
We are in a salesman economy. Everyone is trying to get business from every one, with no risk to the other party. Retainers are becoming less popular, and it’s a scenario of “If you make money, I’ll make money.” So why can’t you do the same?
But, it all depends on what business you’re in.
It’s basically affiliate marketing, except you’re setting up the program.
Instead of providing a service to another business to get a share of revenue and/or a performance bonus, you can create an offer to compensate people who get customers for you.
If you’ve read Alex Hormozi’s book “$100M Offers” or “Profit Sharing: The Chapman Guide to Making Money an Asset in Your Relationship” by Michael E. Chadwick, this model might be familiar to you.
People Love This Offer
Sales has been known to be a lucrative career outside of the world of business that can not only make you wealthy but also add to your skill set for growth in your business. For this model, forget hiring people, it’s closer to a side hustle. Nobody relies on us, we just pay them if they do well and anyone can join.
How do we set this up?
Choose a commission structure: Decide how much you’ll pay affiliates for each customer they refer to your business. This can be a percentage of the sale, a fixed amount per sale, or a combination of the two.
Create an affiliate contact record: Set up a new contact record in your system for each affiliate. Include their contact information, payment terms, and other relevant details. — You can use a CRM system or a data tracking tool.
Set up a referral form: Create a referral form in your system to capture information about new customers referred by affiliates. This form should include fields for the customer’s contact information and the affiliate’s ID or tracking code.
Set up tracking and reporting: Use your system’s reporting features to monitor affiliate referrals and ensure accurate commission payments. Create reports that show the number of referrals, the revenue generated by each affiliate, and the commissions owed.
Recruit affiliates: Reach out to potential affiliates through your network, social media, or email marketing. You can even reach out to people that you know personally. I like to start with this:
“Hey! We’ve got some exciting news — we just launched an affiliate program for our [product/service]. Basically, you get paid for sending us customers. We’ll give you a 25% commission for every sale. Let’s make some money!”
Finally,
Monitor and optimize your program: Continuously evaluate your program’s performance and make adjustments as needed. Test different commission rates, marketing materials, and affiliate recruitment strategies to improve results.
To optimize results with your affiliate program, consider providing your affiliates with a framework or script that outlines how to attract potential customers and explains the benefits of your offer. The goal is for your affiliates to sound confident and knowledgeable about your product or service, almost like they’re satisfied customers themselves. This can increase their effectiveness in promoting your brand and driving sales.
But remember, this is supposed to be simple, so it all depends on their relationship, but this offer works because it’s appealing.
Direct Response Emails
This is where I like to have fun with it. We all know what direct response emails are, or at least we’ve all seen one.
Some companies send these emails out with a new offer, usually a deal, attempting to attract more traffic to their business.
Luckily for us, we don’t have to have many separate email lists for different customers' buying habits. All we need is an email list of past affiliate participants, and people that are interested.
Below I’ll show you two examples of what a DR email would look like for this example.
Previous Affiliates:
Subject Line: Exclusive Offer: Earn 50% Commission this Month! Hello {First Name}, As one of our valued affiliates, we wanted to offer you an exclusive opportunity to earn even more commission this month. For the entire month of {month}, we’re offering a special commission rate of 50% on all new customers you refer to us! This is your chance to boost your earnings and take advantage of our incredible affiliate program. Don’t wait — start promoting our {product/service} to your network today and earn more than ever before! If you have any questions or need additional support, please don’t hesitate to contact us. We’re here to help you succeed! Best regards, {Your Name}
New prospects:
Subject Line: Join Our Affiliate Program and Earn 50% Commission this Month! Hello {First Name}, Are you looking for a simple and easy way to earn extra cash? Our affiliate program can help you do just that! For the entire month of {month}, we’re offering a special commission rate of 50% on all new customers you refer to us. Getting started is easy. Simply sign up for our affiliate program and start promoting our [product/service] to your network. We’ll provide you with all the marketing materials you need, including banners, landing pages, and more. Don’t miss out on this incredible opportunity to earn more than ever before. Join our affiliate program today and start earning 50% commission on every new customer you refer to us! If you have any questions or need additional support, please don’t hesitate to contact us. We’re here to help you succeed! Best regards, {Your Name}
Customers love this, and they will want to generate business for you like crazy.
A third way to get affiliates?
Business gets easier after this.
You’re giving commissions to generate your traffic, so why not give a commission to people providing you with affiliates?
The more affiliates you have, the more money you make. You can still give out commissions only when you receive a profit from that customer.
“Revenue sharing is a powerful tool to motivate and reward people for their efforts.” — Brian Tracy
Why This Might Make You Rich
Once again, there is no risk to you. You’re only paying a commission if you close on the person. After that, you don’t have to pay them, or very little, and you might have a lifetime customer.
A lifetime customer is worth more than you think. You can decide if you’re going to continue paying commissions for as long as this customer pays you, just make sure you communicate with your salesperson.
Thank you for reading.
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