In the ever-changing B2B marketing landscape, new popular expressions and trends are
continually emerging. So as to remain ahead of the curve, it’s basic to ensure you take these
trends in stride and leverage them for your business where appropriate.
As strategic partnerships
become increasingly essential to any successful SaaS business, affiliate marketing is the best in the class strategy; you’ll need to focus on it. Affiliate marketing
Malaysia is a significant sub-tier of strategic partnerships and is a great initial step for any
organization looking to kickstart their partner program.
Like other types of strategic partnerships, affiliate marketing is a relationship between two parties, designed to provide common benefit. However, not to be confused with partner marketing, co-selling, or re-selling, affiliate marketing is a low-commitment relationship that requires little coordinated effort in contrast with its counterparts.
In this relationship, the affiliate is compensated by the beneficiary organization on a performance-based structure through both monetary and non-monetary incentives. Through the affiliate, the organization picks up leads, referrals, customers, etc., and in return, the affiliate is rewarded.
Unlike in a co-marketing relationship, the affiliate will promote the organization through its own means, with an insignificant relationship with the organization. Ordinarily, the affiliate is responsible for determining the channels and strategies for advancement.
The affiliate could be a unique person or another organization that wishes to associate with the beneficiary.
Consider B2B affiliate marketing as likened to B2C influencer marketing. On account of B2C eCommerce, the influencer is provided with a unique following URL that they can use to drive their followers to the beneficiary’s website.
How that guest is driven to the website is up to the influencer and can differ altogether depending on the person. On the off chance that that following URL happens to drive a guest that eventually converts into a customer, the influencer is consequently credited with the agreed-upon incentive, with no need for interaction between influencer and beneficiary.
In the context of B2B affiliate marketing, the process is more or less the same. For example, an affiliate of New Breed would be provided with a unique following URL to be used to drive users to the New Breed site.
On the off chance that a contact is created with that URL as the first source traffic, and
eventually, that contact converts into a customer, the affiliate would be credited through an agreed-upon incentive.
Some examples of normal incentives are revenue share percentages, fixed sums, or lead shares.
However, the nature of the incentive will fluctuate based on the relationship between the affiliate and the beneficiary.
Instructions to Tell if Affiliate Marketing is Right for Your Business
Different types of partnerships will be more effective for different types of companies, objectives, and customer bases. Partner types come in five different tiers and require shifting levels of effort from each team: Affiliate partnerships, co-marketing partnerships, referral partnerships, co-sell partnerships, and resell partnerships.
In case you’re a smaller organization, or you’re new to strategic partnerships, test the waters with affiliate marketing and little monetary rewards or non-monetary incentives like lead sharing. Without the pressure of revenue attribution, these models require lower involvement from your team and give you the chance to decide whether or not the partnership is working for you, before diving in.
Strategic partnerships are essential to maintaining a successful SaaS business. For more tips on the best way to kickstart your SaaS marketing strategy, check out The Definitive Guide to SaaS Marketing.