Should You Offer Commissions For Customer Referrals?Get The Edge Marketing on theedgemarketing.com. Should You Offer Commissions For Customer Referrals? topic will increase your understanding on The Edge Marketing. We at theedgemarketing.com only provide news, articles, information in The Edge Marketing. The Edge Marketing at theedgemarketing.com provides the most up to date news and articles. If you have questions please do not hesitate to contact us.
Whenever someone asks you for a commission in exchange for marketing your product or service, it is basically an affiliate or referral program. This can be one of the most powerful forms of marketing because it promotes word-of-mouth marketing. Who better to refer clients or customers to you than someone who fully understands the value of the services you have to offer? Often these people are your current satisfied customers, or as is the case with this question, they may be strategic partners. Strategic partners are those individuals or businesses who agree to refer business to you, sometimes in exchange for you doing the same for them, or perhaps for a commission. Either way, it is important to make sure it is a win-win situation for both sides. If you consider these individuals or businesses are in effect doing your marketing for you, then you realize paying a referral incentive or commission is merely a marketing expense. When you consider that referred customers are 'warm leads' and are a lot more likely to purchase from you than a 'cold' prospect because they come with an endorsement from someone they trust, then you see even more how valuable this referral marketing can be. My suggestion is to approach this as a potential business partnership. Make sure they completely understand the benefits you can provide to their customers and let them know you would like to design a mutually beneficial partnership. Before you offer to pay them a commission, find out what is important to them. What are they looking for that you can possibly help them to get? In this case the potential partner IS your target audience so know them and approach them with a relevant proposition. Be willing to pay a referral fee or commission if that is all they are interested in, but also be open to other ideas. I have negotiated some amazing partnerships just by spending some time talking and brainstorming with potential partners. In other cases I have straight affiliate/commission partnerships. It all depends on the partner and how we determine we can BEST HELP EACH OTHER to be successful. (C) 2005 Debbie LaChusa
|
Advice Home Business Technology Online Advertising Motivational Internet Marketing SEO Help Online Games Science Articles Happiness More Articles:1. Here's A "Robust, Turnkey, Interactive. Best of Breed, Mission-Critical" Solution to Kill Buzzwords By Bill Stoller Fellow Publicity Insiders, what does this phrase mean? "We envision a center of excellence where our accelerated changeagents can maximize their core competencies." Huh? - or - "The company is a global leader in pressure-sensitivetechnology and innovative self-adhesive solutions for consumerproducts and label materials." Clue: they make stickers. Pity the poor reporters who have to dig through this pile ofdrivel to find a news story. Fre… 2. Creative Ideas To Profit With Autoresponders Creative Ideas To Profit With Autorespondersby Zamri NanyanAn interested visitor who has been strolling through yoursite has finally come to just what she is looking for andis about to make a purchase. It's a sunny afternoon, andher cat, who happens to be sitting on the moss under thevisitor's large fifty-year-old snow-rose bonsai tree,suddenly jumps down, and the priceless tree topples over.In the blink of an eye, your visitor exits your site, … 3. How To Make More Money By Stephen Fairley The biggest crime in small businesses today goes unnoticed by most outsiders. It is not reported in the media. There are no police reports filed and companies do not even mention it on their websites. People don't talk about it on the street and employees often overlook it. Even though this crime is rampant among small businesses, it's presence is so subtle that many business owners fail to recognize when it is happening! Unfortunately, this cr… 4. Corporate Branding and Trade Shows - 8 Tips for Marketing Managers By Julia O'Connor Trade shows are part of the marketing mix and the appearance by your firm should be a continuum of your entire marketing including advertising, public relations and events.While you may introduce a new product or showcase a service, many firms make mistakes by not connecting the overall corporate branding with the show. How can an exhibit staff person be up to speed on what the company is doing?BEFORE THE SHOW …………1. Make sure you have … |