From clothing e-shops to cryptocurrency exchanges, the internet is currently ripe with all kinds of affiliate marketing programs – and for a good reason. For someone who’s looking to diversify their personal or professional income streams, it’s certainly an excellent option since no financial investment is required upfront, and it doesn’t take a ton of time, either. Moreover, it’s accessible to companies and businesses as well as freelancers and other individuals.
The main idea of affiliate marketing is simple: upon partnering up with a certain business that offers an affiliate program, you start doing some third-party promotions, i.e., embedding promotional banners or publishing promotional content (such as product reviews) on your or your company’s website or social media.
By using your unique affiliate link, you can monetize your traffic and get paid a commission for every conversion or sale you make, depending on the terms and conditions of the program. In essence, affiliate marketing is very similar to referral programs a lot of companies and platforms offer – for example, an internet-sharing application called Honeygain has been known to offer daily bonuses for every active referral a user invites to join using their unique referral code.
Why pick SaaS affiliate programs
While the majority of affiliate marketing programs are traditionally physical product-related, SaaS (software-as-a-service) affiliate programs might be a great niche to tap into right now. They’re not that overcrowded just yet, meaning you have less competition, and the need for SaaS only keeps on increasing.
In addition to this, the area of SaaS promotion proves to be even more lucrative than opting for just any type of software because you choose to partner up with business-oriented companies (e.g., accounting software providers). Since the licenses for this type of programs are typically purchased in bulk, the average worth of a sale is much higher – and so is your commission.
Moreover, software licenses need to be regularly renewed, boosting the earning potential for years to come. It’s especially true with SaaS: while an individual user can decide to switch their software choices on a whim, businesses have a lot more to consider and plan. This means the affiliate’s income can be at least partially predictable, which would be impossible with most physical products.
Getting ready for effective promotion
Before you start doing anything SaaS affiliate marketing-related, you’ll want to learn as much about the software as possible. This step is a must first of all because you don’t want to get tangled into any scams or otherwise shady businesses – which often means goodbye to your reputation and potentially a significant part of your online following.
However, this doesn’t mean you should stop researching once you make sure the SaaS you’ve picked is actually legit. Nobody trusts a recommendation that’s coming from someone who doesn’t seem to really understand what they’re talking about, and having profound knowledge of the software you’re promoting will help you both create engaging and informative content and answer any questions your audience might have in the comment section.
The popularity of the SaaS should not be the most important thing to you since brand awareness does have both advantages and disadvantages in this case. While it is true that a well-known brand automatically seems more reliable and raises less doubt in the minds of your followers, it also comes with higher competition in the affiliate marketing arena. Additionally, such a product might already have a solid user base, making it harder to find and attract new potential customers.
Aside from the SaaS itself, you should also get at least a general understanding of the market it is most relevant to. For example, if you’re promoting a SaaS that helps manage online stores, it’s wise to look deeper into the needs and preferences of e-commerce players: once you do, you will be able to easily identify and accentuate the features they are looking for the most fervently (such as convenient third-party integrations that limit the need to use multiple platforms for the same job).
What to consider when choosing a program
Next, take a close look at the features of the affiliate program itself. Even if the SaaS itself seems to be close to perfection, the promotion might not be worth it if the program is not well-built. Needless to say, the higher the commission rate, the better, as it directly translates to higher earnings – however, it’s far from the only thing you need to check before you begin.
Another thing to consider before joining any affiliate program – SaaS or not – is the cookie duration. Once the potential customer visits your website, a cookie is planted in their browser, creating a link between you as an affiliate and the visitor as the customer. If, for example, a cookie is active for 14 days and the client finalizes their order on the 15th, this link will have expired, and you won’t receive a commission on the said sale.
Cookie duration is especially important when it comes to promoting business-oriented SaaS. While individual buyers often make their purchasing decisions on a whim, companies normally take longer to discuss, make, and finalize the decision. In fact, more than half of IT purchasing decisions in businesses are now made by committees as opposed to a single person, and non-IT stakeholders are becoming more and more involved. Hence, 30 days is the absolute minimum a good SaaS affiliate program should offer – and longer is always better (LiveAgent, for example, offers 90 days).
Lastly, always make sure the company is ready to provide you with all the support you need to perform effectively. While 24/7 support might not seem like a must before you begin, it’s always recommended to know exactly how you can contact the customer support team and expect to receive a helpful and informative answer in a timely manner. Some companies also provide their affiliates with ready-to-use materials, such as banner images or smaller visual elements they can then easily include in their promotions.
Is it really passive?
Affiliate marketing might seem like a lot of work – but once you complete the initial preparations, there’s not much left to do to maintain it. Promotional content and banners are effective long after you finish setting them up, which means that if your website or social media pages have a constant visitor stream, you can enjoy a stream of passive income for quite a while – especially considering those license renewals.
All in all, discovering SaaS affiliate marketing programs is a great way to add another income source to your financial plans and diversify your earning game. Just remember to do some research before you begin so you can reap the nicest benefits!
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