One of the most effective ways of generating business is through word of mouth. Advertisers and Networks in the affiliate marketing space are very familiar with this method as they work with affiliates who are often times the driving force of traffic for their offers. In addition, they refer other affiliates who also want to work with the same vendors.
CAKE offers an Affiliate Referral Program so clients can incentivize their affiliates for additional partnerships they help create. You will have the option to pay out based on revenue, cost, or profit, and this can be a percentage or flat fee, depending on what makes the most sense for your business. This is a tool that can be set up globally, or on a per affiliate basis, and referral programs can be set up differently among referred affiliates as well. Your affiliates will also be able to see their referral URL in the affiliate portal or you can keep it hidden if you’d like to be more selective about this feature.
As an example, if Client ABC works with Affiliate A, who referred Affiliate B, Affiliate A is the referring affiliate and Affiliate B is the referred affiliate. CAKE allows Client ABC to set up a referral program for all referring affiliates, or they can set up unique terms for this specific affiliate or relationship between Affiliate A and Affiliate B on Affiliate A’s affiliate card. Client ABC can decide to pay a flat fee or percentage per referral, and they will also decide what the commission will be based off of. Referral duration (perhaps for seasonal rewards) can be set and a minimum threshold can be implemented.
If your affiliates feel appreciated and are rewarded for the introductions and additional business they make for you, they’ll be more likely to continue to share how wonderful it is working with your business.
For more information on how to start driving more business by rewarding your affiliates, check out our Knowledge Base Article or contact your dedicated Client Success Manager!