Affiliate marketing is a powerful sales-boosting strategy.
Building and sustaining a strong affiliate partnership is not just about numbers; it’s about creating a bond that lasts.
The happier the affiliates, the more they will be pumped up to go the extra mile and promote your business.
This article explores the importance of rewarding affiliates and unveils six affiliate rewards that can make them stay longer, motivated, and engaged.
Note – This article has no resemblance to chrysler affiliate rewards or fca affiliate rewards, that usually shows up when you search for affiliate rewards.
Why reward your affiliates?
Affiliates are the backbone of successful online marketing, acting as ambassadors for your brand. They invest time, effort and creativity to drive sales and expand your reach.
By acknowledging their hard work and rewarding them with presents, you not only boost their morale but also lay the foundation for a lasting and fruitful partnership.
Human beings crave recognition, and your affiliates are no exception.
Now, let’s dive into the six compelling affiliate rewards that can help you achieve this.
Affiliate rewards that make them stick to your brand
Tailor your rewards to match the achievements of individual affiliates.
Whether it’s reaching sales milestones or generating high-quality leads, personalized incentives show that you recognize and appreciate their unique contributions.
Tiered commission
Implementing tiered commission is an excellent way to reward affiliates based on their performance.
In a tiered commission, you allow affiliates to earn commissions on the sales they bring and also on those generated by their referrals.
For instance, if Derek refers Nancy to your program and someone buys via Nancy’s link, both Nancy and Derek receive a commission. This is a two-tier commission affiliate program. You can have three-tiers, four-tiers and even more tiers.
Rewards in the form of tiered commission not only provides a financial incentive for growth but also demonstrates your commitment to mutually beneficial collaboration.
Lifetime commissions
Another sweet reward you can provide to your affiliate is a lifetime commission. Your affiliate will receive a commission every time their referred customer makes a purchase from your website.
Consider Yuvi as your affiliate and Hazel as the customer referred by Yuvi. Whenever Hazel makes a purchase from your company, Yuvi will receive a commission.
People are also more willing to join affiliate programs that offer lifetime commissions, to grab those extra bucks whenever a purchase is made.
For businesses that rely on repeat purchases and subscription renewals, lifetime commission is a reward to reckon with.
Recurring commissions
Instead of a one-time commission, allow affiliates to earn commission on subscription renewals also.
For businesses that deal with digital products like analytics, plugins, themes…where competition is high, giving a small share of your income to affiliates on a recurring basis won’t hurt your profit margins.
This not only encourages affiliates to focus on attracting quality leads but also ensures a steady income stream for them over time. It aligns the interests of the affiliate with the business’s long-term success.
Surprise rewards
Recognize your affiliates’ special efforts and surprise them with exclusive bonuses or incentives.
For example, affiliates who bought 100 orders or affiliates who bought more than $5000 in revenue, are worth gifting fancy rewards.
This could include cash bonuses, gift cards, merchandise or your own products. These unexpected rewards create a positive and motivating experience for affiliates.
These special rewards go beyond regular commissions, making affiliates feel valued and appreciated.
Creating a variety of incentives ensures that there’s something for everyone, catering to diverse preferences and motivations among your affiliates.
Learning and development opportunities
Rewards are not always monetary-based. It also includes providing access to valuable learning resources.
This could include workshops, webinars, industry insights, courses on marketing trends and strategies, or even personalized consultations. As they enhance your affiliates’ skills, they become more effective brand ambassadors.
Performance-based prizes and recognition
Introduce performance-based prizes to inject a competitive spirit into your affiliate program.
Set up monthly or quarterly contests where affiliates can compete for exciting prizes such as luxury vacations, electronic gadgets, or professional development courses.
Not only does this foster healthy competition, but it also encourages affiliates to continually improve their performance to qualify for these coveted rewards.
You can also publish the competition results and prizes on your website and via emails. This will encourage your affiliates to work harder and even nudge visitors to join your affiliate program.
How to offer these affiliate rewards?
If you are running a WooCommerce website, you can set up your own affiliate program, and provide rewards using the Affiliate for WooCommerce plugin, from one place.
Join the list of 5000+ users who have amplified their affiliate program using the plugin.
Here’s how the plugin helps you reward your affiliates:
- Tiered commission – Set up a commission plan with an unlimited number of tiers. You can choose two, three, four…tiers and assign different commission rates for each tier. For example, in a three-tier commission structure:
- 20% commission in the first tier
- 15% commission in the second tier
- 10% commission in the third tier
- Lifetime commissions – Enable the setting within the plugin, link customers to affiliates and they will be eligible to earn lifetime commission. Here’s how
- Recurring commissions – The plugin is compatible with Woo Subscriptions. Enable the recurring commission setting. Create a commission plan; enter the commission amount, subscription product and affiliates. When the customer purchases this product for the first-time and renews it until canceled, the affiliate will keep earning commission.
- Surprise rewards and performance-based prices – Here, the plugin will only help you identify your top affiliates. You get a dedicated dashboard to monitor each of your affiliates’ performance based on date filters. Identify them and then send them rewards outside the plugin.
- Learning and development opportunities – You can’t conduct webinars or consultation using the Affiliate for WooCommerce plugin. But you can create marketing campaigns using the plugin to provide the necessary training materials – videos, worksheets, blog posts, etc. to all or selected affiliates.
For example, John refers to Maria and Maria refers to Laura. So when someone purchases via Laura’s link, all three will earn affiliate commissions. More about it here.
What rewards do you find the best?
By recognizing the unique contributions of your affiliates and offering tailored rewards, you not only make them stay longer but also inspire a deeper commitment to your brand.
Together, you and your affiliates can create a powerful alliance that withstands the test of time and drives continuous success for both parties involved.
And if you are in the WooCommerce space, providing affiliate rewards using the Affiliate for WooCommerce plugin is simple and quick.
I personally find the lifetime commission rewards unique. What about you?