The content creators, known as affiliates, place links to your website within their content.<\/p>\n
Every time someone converts \u2013 becomes a qualified lead or makes a purchase \u2013 as a result of clicking on an affiliate’s link, you reward the responsible affiliate by paying them a commission.<\/p>\n
By rewarding your affiliates with a commission<\/a> for every sale, you encourage them to help propel your brand\u2019s growth even further.<\/p>\n Does affiliate marketing work for B2B businesses?<\/p>\n The answer to this question is a resounding yes.<\/p>\n Affiliate marketing isn’t just for B2C ecommerce businesses \u2013 B2B affiliate marketing is extremely effective.<\/p>\n Build a B2B affiliate program (business to business affiliate program) the right way, and your B2B will have an effective channel for lead generation and sales.<\/p>\n After all, affiliates are usually trusted content creators in your industry. And when they promote your products or services on their sites, potential buyers listen and are more willing to see what you have to offer.<\/p>\n Here are some of the top reasons why B2B marketers can benefit from affiliate programs:<\/p>\n 1. Harness trusted voices:<\/strong>\u00a0Affiliate marketing is a word-of-mouth powerhouse<\/a> because consumers trust industry authorities and peers more than messages that come directly from a brand. Plus, these consumers will be more likely to share the message with their family and friends.<\/p>\n 2. Measurable word of mouth: <\/strong>All B2B marketing efforts should be measurable and data-driven. Often, though, word of mouth can be difficult to track. But when you set up an affiliate program, you\u2019ll be able to attribute a sale to the exact affiliate responsible, know how many sales resulted from a given affiliate link you’ve created<\/a>, and track how much you\u2019ve paid out in affiliate commissions. This makes it easy to measure your ROI<\/p>\n 3. Highly targeted marketing:<\/strong>\u00a0Affiliates can help you move prime leads through your sales funnel. Select affiliates who have already captured your target audience and are respected in your niche, and B2B decision-makers are bound to listen.<\/p>\n 4. Cost-effective and low-risk: <\/strong>Since you only pay affiliates after they’ve successfully generated a qualified lead or a sale, affiliate marketing produces results with less risk for your business.<\/p>\n 5. Increased leads and sales:<\/strong> Affiliate marketing is flexible \u2013 you can ask affiliates to point potential customers toward any page on your website. By having affiliates link to a targeted landing page optimized for your program, you can directly generate high-quality B2B leads<\/a>. You can also vary the landing page designs, depending on the audience of each individual affiliate partner.<\/p>\n These statistics prove why you shouldn\u2019t sleep on B2B affiliate marketing:<\/p>\n Even though affiliate marketing can be a powerful digital marketing strategy for your B2B, it should meet several standards to be successful and sustainable. Before starting an affiliate program, be sure that:<\/p>\n Once you\u2019ve decided an affiliate program is right for you, follow these tips to set it up for success. Below are the best B2B affiliate marketing strategies, based on our experience:<\/p>\n The main difference between B2C and B2B affiliate programs is the longer and more intensive B2B sales\u00a0cycle.<\/p>\n Compared to B2C buyers, B2B decision-makers tend to do much more research on products or services before purchasing, usually consult with several stakeholders, and are seeking long-term deals that last at least a few years.<\/p>\n In addition, B2B buyers often require a highly personalized experience. They want to know exactly how your product or service will meet their needs, and receive hands-on assistance during every part of the sales funnel.<\/p>\n Where do B2B affiliates fit into this process? Since affiliates are trusted authorities in your niche, they\u2019re instrumental in building trust among prospective buyers, and generating qualified leads and sales.<\/p>\n Depending on your affiliate marketing goals, you can design appropriate landing pages for affiliates to link to \u2013 pages with a direct sales offer, or a call to action encouraging email sign-ups. Personalize these pages based on the needs of your target audience, and encourage your affiliates to address these needs when they include your link.<\/p>\n All B2B marketing strategies must be measurable and data-driven. B2B affiliate programs are no exception.<\/p>\n Once you\u2019ve decided to start an affiliate program, set measurable goals for leads and sales. This way, you\u2019ll be able to tell if your program is successful.<\/p>\n Here are some KPIs you should focus on:<\/p>\n To see the greatest success in your affiliate program, it\u2019s important to have a rigorous selection process when finding affiliates<\/a>. B2B businesses should use targeted affiliate outreach: it’s best to personally reach out to the affiliates you want, rather than posting an open application and having them come to you.<\/p>\n Affiliates don\u2019t necessarily have to use your product or service regularly. But they should be trusted content creators and respected by other B2B buyers.<\/p>\n Look for reputable established B2B professionals and influencers<\/a> your target customers already follow and trust, along with other niche creators, who produce quality content that aligns with your brand.<\/p>\n Then, make a list of people who meet these criteria \u2013 ones you\u2019d like to be your affiliates. If they\u2019re familiar with your product or service (or even already use it), even better.<\/p>\n Also consider choosing affiliates across different segments of your target market. This helps create an affiliate network that delivers personalized messages to their audience, and directs warm leads to specific, tailored landing pages.<\/p>\n The biggest B2B affiliate program mistake is to forget about inviting existing customers to become affiliates.<\/p>\n Sometimes, existing customers can also be an influential voice in the B2B space, with a considerable audience that could greatly benefit from your product.<\/p>\n The best part of having an existing customer join your affiliate program is they can authentically and directly share how your product helps them, and could potentially help other businesses. In fact, customer-affiliates may likely be your best advocates!<\/p>\n Offering the right commission is key to your affiliate program\u2019s success. Commissions should be paid out in cash, as either a fixed amount or percentage of a sale.<\/p>\n Run a competitive analysis to make sure your own affiliate commission<\/a> will seem attractive. Compare the commission you plan to set against the programs of both direct competitors and<\/em> other companies that might be recruiting the same affiliates. For instance, if most competitor affiliate programs have a 10% commission, offering a 5% commission won\u2019t be effective.<\/p>\n But one-upping the competition\u2019s affiliate programs isn\u2019t always your best strategy.<\/p>\n To determine the best commission for your B2B, consider your customer acquisition costs, your retention rate, and your average customer lifetime value.<\/p>\n With these numbers in mind, decide on a commission rate your business can afford to pay out, while still being attractive to your potential affiliates.<\/p>\n In light of the longer B2B sales process, set commission rules that will still keep B2B affiliates motivated.<\/p>\n For B2Bs, multi-step commissions work well. This structure involves paying affiliates a small fixed commission for every qualified lead they bring in, and then a larger commission when one of their leads converts to a sale.<\/p>\n You can also reward a commission bonus to affiliates who bring in a specified number of qualified leads or sales within a time period (quarterly or annually).<\/p>\n Or, you can offer a permanent commission boost once an affiliate exceeds a given amount of lifetime sales, in what’s known as a tiered structure.<\/p>\n Here are other commission rules to consider:<\/p>\n Once you determine your commission rules, set your affiliate tracking cookies to monitor all relevant steps in your sales funnel so you can automate payouts throughout your program.<\/p>\n ConvertKit\u2019s affiliate program pays out recurring commissions. \u00a0As long as a customer who signed up via an affiliate link stays active, the affiliate whose link they used keeps earning a commission on purchase renewals. Source<\/a><\/em><\/p>\n How to make your B2B affiliate program lowest-risk? Only pay a commission when your business knows it has received a return on investment (for a qualified lead or sale). You could also set lower commissions for newer affiliates and higher commissions for established affiliates, as mentioned above.<\/p>\n Automatically handle affiliate payouts with PayPal and Wise integrations, or set up the custom cash payouts of your choice.<\/p>\n Here’s more on how we can help your B2B automate commissions ><\/a><\/p>\n<\/div><\/div>\n Going through an existing affiliate network may seem like it will save you time and effort.<\/p>\n But for any long-term affiliate marketing, it\u2019s much more effective to cut out the middleman and form your own affiliate network<\/a>. By recruiting your own affiliates, you can save money and have more control over your affiliate program.<\/p>\n Yes, an affiliate network will recruit and manage affiliates for you. But they also charge their own fees (sometimes as high as 30%) on top of the commission you pay affiliates directly.<\/p>\n If you form your own network:<\/p>\n Affiliate software is a must<\/a> when forming your network of affiliates. It streamlines your program with automation and lets you instantly track key metrics. By using affiliate marketing software, you\u2019ll always know which affiliates are responsible for which sales, automate your payouts, and strengthen your best affiliate relationships.<\/p>\n Affiliate software gives you full control over all aspects of your program, and typically includes a dashboard or portal, where affiliates can track their progress. It also streamlines all communication and support, and helps keep affiliates motivated.<\/p>\n Plus, affiliate management software<\/a> usually costs much less per year than the fees paid to an existing affiliate network.<\/p>\n Referral Rock<\/a>\u00a0affiliate software lets you take full control of your affiliate program, with all the tools, data, and support you need for success:<\/p>\n Learn more about how Referral Rock can help you give your affiliates the best experience ><\/em><\/a><\/p>\n After recruiting your affiliates, train them on your brand and program fundamentals. Provide your brand guidelines, any terms and conditions they should know when promoting your product\/service, and the requirements to earn a commission. Then, have them sign an agreement that includes all these points.<\/p>\n One often overlooked step, however, is educating affiliates on your B2B sales funnel or buyer\u2019s journey.<\/p>\n Don\u2019t abandon affiliates after this initial training, either.<\/p>\n ActiveCampaign trains and educates affiliates in several ways: a starter pack; easy access to product updates; graphic, video, whitepaper, and webinar assets; and even an affiliate community where affiliates can learn from their peers.\u00a0<\/em><\/p>\n![\"How](\"https:\/\/referralrock.com\/blog\/wp-content\/uploads\/2020\/09\/How-Affiliate-Marketing-Works.png\" "\\"\\"")
<\/p>\nDo B2B affiliate programs work?<\/h3>\n
Why start a B2B affiliate marketing program?<\/h2>\n
\n
How to know if a B2B affiliate program is right for you<\/h2>\n
\n
Our top 10 tips for starting a B2B affiliate program<\/h2>\n
1. Know where affiliates will fit into the buyer\u2019s journey<\/h3>\n
2. Set strategic affiliate KPIs<\/h3>\n
\n
3. Figure out where you’ll find B2B affiliates<\/h3>\n
4. Don\u2019t overlook existing customers when choosing affiliates<\/h3>\n
5. Set competitive affiliate commissions<\/h3>\n
6. Set commission rules carefully<\/h3>\n
\n
![\"affiliate](\"https:\/\/referralrock.com\/blog\/wp-content\/uploads\/2020\/10\/affiliate-commission-payout-example.png\" "\\"\\"")
<\/p>\n7. Form your own affiliate network<\/h3>\n
\n
8. Choose the right affiliate software<\/h3>\n
Why choose Referral Rock affiliate software?<\/h4>\n
\n
9. Educate affiliates on your B2B sales cycle<\/h3>\n
\n
\n
![\"activecampaign](\"https:\/\/referralrock.com\/blog\/wp-content\/uploads\/2020\/10\/ActiveCampaign-subscription-affiliate-program.png\" "\\"\\"")
<\/p>\n