Give some incentives/bonus as part of business plan?
Submitted by sukarto on Thu, 05/08/2008 - 23:10.
Hi Jeremy,
An awesome session we had about building business plan. Really appreciate it!
However I have questions that always occur in my mind when starting a new affiliate site.
How to make a visitor will purchase or go to merchant from our site and not directly going to the merchant ? I think this is one important aspect that we need to decide in our business plan. Do we need to give some incentives or else?
I know in Internet Marketing niche, people usually give bonuses so people buy the products from their affiliate link. And it works very well. But do you think this is a strategy that you can do outside IM niche? Do you think we need to write this kind of strategy in our business plan?
In some of my physical product affiliate site, I'm not so sure about what strategy that we can implement to increase the probability of people buy from our site than from other site or directly to merchant.
Big thanks before.
Sukarto
Offering an incentive will
Offering an incentive will improve your conversion rate dramatically, however, make sure you can deliver it. For example, cash back sites (e.g. Fat Wallet/eBates) require a lot of effort because you have to cut checks every month. The best bonus is a complimentary guide, e-book, or other info bonus that is easy to fulfill.
That kind of reminds me of
That kind of reminds me of the get paid to sites. They offer a certain amount for "trying" out a product or service. For example you sign up for "x" trial offer. You pay $9 to take try the product and the GPT site pays you $12 or $20 for doing it. Since there aren't that many variations in offers there were people doing the same offers on different sites thus causing it to become fradulent.
As Jeremy mentioned you have to enough money to cover the incentives. It could take 30 days before you get your affiliate check but those customers will want the money for signing up before then. That also doesn't take into account any leads that might be rejected by the merchant. You would still have to pay the customer even if you didn't get paid.
Digital products incentive is the best
Thanks Jeremy and Mina for the reply.
Jeremy, you are right, it's better to give some info/digital products as incentives, easier to deliver. Do you think the conversion will much higher also giving info/digital product incentive for physical product buyers ?
I will note this kind of incentive in my business plan for my niche site.
thanks for the insight.
Sukarto