Depending on the nature of a business, individuals can most likely seek out and find a relevant online referral program to match their needs. However, an online referral program can also be detrimental to a business if it requires time-intense responsibility that no one is available to manage. For this reason, finding the most ideal online referral program may take a bit of research time.
If you have a product-based business you are actually in luck. There are several reputable and high-quality online referral programs to take advantage of. These are most commonly referred to as Affiliate Programs.
- Amazon Associates Program
- Yahoo Affiliate Program
- EBay Partner Network
- Travelocity Affiliate Program
These famous networks are available to those who have product offerings. The sign-ups may be a bit detailed and require working knowledge of each product available, but the payouts are the source of income for many product-based businesses. Once your products are submitted to these networks, the affiliate marketers on their sites will begin to share your products with others. Although sign-up may take time, the passive income will inevitably improve a bottom line.
If you offer services or are a web-based business owner, you would want to look into all of the available e-commerce sites, SaaS and perhaps even content subscription services that offer online referral programs. Joining some of the larger affiliate networks can also be a great way to share your name and your service offerings.
- Max Bounty
Regardless of what is available, all business owners will need to weigh for themselves whether or not their business is ready to begin an affiliate program. What signs should one look for to know if it is time to dive into the world of product and service marketing?
Is Your Business Ready?
- Are you earning a substantial income from your current product offerings?
- Are you often told that you should be sharing your products or services with the world?
- Are you confident about your success?
- Do you have capital saved for business expenditures?
- Would your knowledge on your products and services be considered “Expertise”?
- Are you ready and willing to continue to learn?
If you answered yes to all of these questions, it is most likely time for you to expand on your business.
There are many ways to delve into online referral marketing as well. There is Social Referral Marketing to consider.
Customer Referrals will also be a huge part of any great online referral program strategy. This critical element of business growth can be expanded upon in online formats but will also still always require the word-of-mouth style of marketing referrals that have been so traditionally successful for decades, even if they are often carried out digitally today.
Don’t forget to utilize fun, entertaining and interactive dialogue in any style of affiliate communications and remember that even the online referral program you choose can say a lot about your business. Make the decisions about who your business ‘affiliates’ with wisely.
Christian Fea is CEO of Synertegic, Inc. A Joint Venture and Referral Marketing firm. He exemplifies how to profit from Joint Venture and Referral relationships by creating profit centers with minimal risk and maximum profitability.
Click here for more Referral Program Strategies to help you increase your profits.