Growth affiliate programs offer many advantages for SaaS companies, such as keeping a solid relationship with their customers, individualized promotions and targets, and income growth. Below are the top 5 reasons why a growth affiliate program is what every SaaS company should consider.
Increase in Revenue
Growth affiliate programs aim to better your company’s marketing strategy and increase your company’s profit. Since the growth programs aim to promote your SaaS company for its best features, selling your products will be easier. Implementing a new marketing approach will make your services available to the clientele you couldn’t reach before. This way, you can sell more to a broader segment.
For some, implementing a growth affiliate program can be considered a marketing investment, i.e., a marketing strategy that can elevate your profits once implemented with your other methods.
Reach Out to Targeted Audiences
Getting to the right audience is one of the critical things every SaaS company needs. When choosing your affiliates, try to find ones related to your SaaS company, i.e., work in the same niche you’re employing. You can check this by going through the topics they promote. This will also tell you their target group, allowing you to see if it correlates with yours. Finding the correct affiliate will allow you to focus your effort correctly in reaching a specific audience.
On the other hand, a good affiliate program can also help your SaaS company broaden its scope and market to people you haven’t initially considered your intended audience. Marking the target is one of the top things that can guarantee affiliate marketing success for SaaS.
Only Pay For Results
Affiliate programs are popular because you pay for them only after concrete results. Sometimes you pay the affiliate a lower price if a potential customer watches your demo or engages with your company’s free trial; naturally, only if they’ve reached that point through your affiliate.
Every online guide for SaaS affiliate commissions will advise the same – pay a smaller amount to your affiliate when a potential customer engages only with the demo. As soon as you sell, the affiliate will get their full commission; this motivates them to promote your company and is a future investment for potential clients.
This benefit of the affiliates for SaaS is connected with a Customer Acquisition Cost (CAC). This is the cost you pay for a new customer, and although an affiliate program won’t guarantee a reduction of your CAC, it is still a better option than pay-per-click.
Partner With Other Organizations to Co-brand
Creating marketing campaigns by co-branding with other organizations can significantly boost income for both sides.
You can partner with an organization in the same niche as yours and create campaigns promoting both companies equally. It doesn’t necessarily mean you must brand with your competitors but find businesses that can complement each other’s business goals.
Customers will associate your brand with the other (and vice versa) whenever they see it, opening the doors for new clientele from different fields of work. One easy way to achieve this benefit is to use an affiliate tracking platform. It can help you track, analyze and optimize your SaaS affiliates.
Benefit From An Influencer’s Audience
Another reason to start investing in a growth affiliate program for your SaaS company is that you can leverage an influencer’s audience to your benefit. Once an influencer starts advertising for your company, you can increase revenue and attract new customers.
Broadening your views is not to be dismissed – maybe you can partner with an influencer that is out of your scope of work and thus bring in even more new customers.
Growth affiliate programs should be your next choice if you are trying to develop a new way to grow your business. After all, it is a double win – your company is raising profits, while the affiliate gets a long passive income from a promising source.