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Opinion holder entrepreneur You are the contributor.
Contrary to popular opinion, you don’t need to build an audience before starting a SaaS business. SaaS affiliate programs provide access to other people’s audiences. In weeks that would otherwise take years, you can reach a large number of initial users. Of course, the purpose of this article comes at some price for being proactive.
The SaaS Affiliate Program works so that affiliates receive a commission in return for referring prospects who buy your product.
Related: How SaaS Is Changing How We Work
3 strategies for a successful SaaS affiliate program
If you’re planning a SaaS launch or looking to rapidly grow your customer base, have a tight cash supply, and aren’t a fan of marketing, pay close attention to these strategies.
1. Play the long game with funnels and pricing structures
Before deciding on your affiliate commission structure, you should decide on your SaaS pricing structure and profit margins. Do you want one-time pricing or recurring pricing? Since this article is all about hacking growth towards a new SaaS launch, a proven strategy is to offer pricing for both. Combining configuration strategies. Yes, counterintuitive!
But SaaS entrepreneurs who have launched successful SaaS products in nitro speed mode know this is the secret sauce. The engineering of this strategy is done in the funnel structure through which affiliates send traffic. The front-end funnel will be a one-time access for life offer or lifetime deal (LTD). The Lifetime Deal is a limited paid promotion.
However, limit access to certain premium features of LTD Packages or communicate and enforce usage restrictions. Next, introduce subscription upsells. This is very important to cover the costs incurred in providing LTD. Also note that recurring revenue must exceed the LTD revenue in order to keep the model sustainable. Here are some tips to keep it locked down.
2. Offer a limited number of lifetime accounts
Use an in-app prompt to encourage users to upgrade to an annual subscription when they reach their LTD usage limit. Optimize advertising for subscription offers using first-party data of LTD’s customers. Since LTD is a promotional strategy, it needs a viral loop. This is where affiliates come into play.
Lifetime deals sell quickly and affiliates jump right in. This fact is what underpins his million dollar SaaS LTD platform and its vast affiliate network. Earn quality leads by investing regular commissions (behind the commissions on LTD sales) to affiliates whose leads redeem subscription offers.
3. Find your niche affiliate
The next step is to find affiliates that form a viral loop. You have two options:
- Get in touch and recruit affiliates. Think of this as cold outreach to affiliates. So where should you fire the cold shot? Blogs and review sites, content creators and influencers, online communities, or brands that offer complementary products are the best places to start.
- Leverage your existing affiliate network. This is the growth hacking route. Of course, you should be ready to part with some of your earnings.
It is possible to launch on these platforms and have zero affiliate sales. They help manage the onboarding and launch of Big Whale Affiliates in exchange for a small percentage of the launch revenue.
Here are some tips to ensure you get the best affiliates for your SaaS affiliate program.
- Make sure they have access to your target audience
- Recommended for those who have experience promoting SaaS
- Make sure your traffic source is genuine
- Ask how they plan to promote your SaaS to make sure your interests match
Successful SaaS marketing requires many moving parts. So do some heavy lifting for your affiliates by providing marketing materials to promote your products.
Promotional kits for SaaS affiliate programs must include promotional email templates, media kits, explainer videos, ad creatives, testimonials, and case studies. You can support your affiliates by hosting a live webinar. All the affiliate has to do is drive traffic to the webinar.
With a hybrid approach to SaaS affiliate programs, LTD offers provide the runway cash, feedback, and marketing data you need to quickly grow your subscription revenue. At the same time, regular commissions keep affiliates motivated.
Related: A Simple Checklist for Building a SaaS Business
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