Most companies do this naturally. When you do a good job, your customers tend to speak well of you and that starts to bring you new prospects -- prospects who are already qualified and who have already shown an interest in your company.
Affiliate programs take things a step further. With them, you russian mobile number list can define clear terms for compensating everyone who brings you customers. And give them a reason to get customer referrals .
First things first: what exactly is an affiliate or referral program?
An affiliate program is a structured way of compensating intermediaries who bring you business volume. This is usually measured in customers and hires, so if a partner brings you a new customer, you pay them a commission.
Affiliate programs can be run in many different ways, and you have many ways to manage them. For example, you can determine the amount of commission to be paid to the intermediary or collaborator, the payment times, or even the return conditions.
Some affiliates even set a minimum amount of time that a customer must remain with the company before generating a commission back. That is, if the customer cancels before enough time has passed, the affiliate must return the commission.
What is the use of an affiliate program?
Affiliate marketing is another way to increase your income by having others promote your products and help you reach more people.
In an affiliate program, both the service provider and the affiliate earn. You get new customers, and the other person gets a commission for it.
One of the most useful uses of having an affiliate program is being able to collaborate more easily with other professionals in the sector, especially those who are complementary to your specialty.
I'll give you an example of our case here at Vendomia.
Our specialty is sales CRM and we serve professionals and companies that want to manage their day-to-day operations better. For this reason, we are very compatible with business consultants who help companies manage themselves better - they provide the know-how, and we provide the infrastructure and tools.
Therefore, an affiliate program would allow any consultant to recommend our tool to increase their business share.
