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Hi
I run the affiliate program for a binary options company
Although the product is obviously different, I would love some of your educated ideas about what are the best / and worst practices in terms of building terms for the affiliate.
I already know how to protect the company, so what I am looking for are tips on how to provide the terms that keep affiliates happy and doesn't make them turn and run away
Anything will be of service to me
Thanks
I don't know anything about binary options, but I would say the BIGGEST thing is communication with your affiliates. Ignoring emails is not a good way to go and will lead to bad reviews and less people signing up, because once a bad review is on the Internet, it's not coming off in a hurry. Obviously regular payment and occasional updates on how the company is doing and what it has coming out in the future is also pretty good.
I personally think the % is not that big a deal, if the company can provide a good service. G2 Affiliates for me were useless, Sky on the other hand are great. So even though the % they offer is considerably lower than what was offered to me by g2, g2's lack of communication and support led me to believe they would behave the same way to their customers. All that equals a bad name for me, as I am the one telling them to sign up.
I'm not an expert by a long way, and I'm not even sure that was the question you asked, but that is what I like.
I have been working with affiliates for some time in the past, so I have to agree with TheMoonCheese here - communication with your affiliates is the top priority. If you will not provide them with prompt response to their queries, they will not bother cooperating with you. They need to feel that they have their own (private) Affiliate Manager, who can discuss with them anything related to their business.
Second most important thing is the payment to your affiliates - I am not an expert on binary options, but I believe that most of your competitors are offering all major payment methods and they do their payments within the first week of each month. One mistake in payments can cost you a lot....so make sure you will not bring any troubles here.
If you will work hard to bring your affiliates with the best possible support and with swift payments, you can earn their trust (in time)... as you know for sure, good results comes with the trust..
When you starting with the business, make sure your sites are visible on the right places (where binary options affiliates are) - you can also earn some trust just by being active among this community. Anyway, I guess you know all that already :)
Along with what has already been said, No third party excuses.
Affiliates should NEVER hear the excuse, "I am sorry we can not pay you because such and such did not pay us and your payment is based upon that payment to us."
The affiliate should never hear that from the affiliate program, the affiliate did not join the "such and such" program they joined YOUR program and expect payment from YOU not the "such and such" program or entity.
Rick
Universal4