Hey everyone. I have a question!
Have someone read the book called 'Traction'? It's about finding a right Marketing channel for your business and optimizing it. I've not finished this book yet, but I can already say it's a must-read for everyone who's interested in marketing and growth.
Anyways, there are 19 traction channels, and one of them is Affiliate program. So basically my question is: If you have a lot of leads coming from 'Word of Mouth' is that a good sign that you should implement Affiliate program? Or this is pretty common situation, and it doesn't mean that you will actually have that much success with this channel (Affiliate)?
I'm asking because we're a SaaS company, and right now WoM is working a great job for us. I just think Affiliate software will give so much more motivation to our current clients to talk about us.
What do you think?
06/26/2022, 6:41 PM
Who's the author? Wickman and Gino?
06/26/2022, 6:47 PM
Nope. Gabriel Weinberg and Justin Mares.
06/27/2022, 9:28 AM
Assuming you are B2B. Doing affiliate marketing for your product is probably more attractive to publishers and bloggers than it is for your customers. If a customer pays say $200 a month, they are not very likely to actively work on a program where they earn 10 bucks every now and then.
06/30/2022, 2:33 AM
I would to to agree with Gregor. Few things to consider for your affiliate program
1) what is your ASP and what portion will you allocate for incentives
2) what is the profile of those stating “word of mouth”
2a) analyze the mix. Before you can analyze you should consider what your ICPs and IPPs are
2b) ICP = ideal customer profile IPP = ideal partner profiles
3) if you find you are appealing to content creators then an affiliate program is a no brainer. If it's complimenting software then you can consider the integration partnership which come is all shapes and sizes, and if they are consultants/agencies then a sell-through program might fit.
I ran partnerships at a company from early stage through public so happy answer the what not to do’s as well