Why have affiliates emerged on the market? What is their role? And how to expand your circle of affiliates and make them direct traders to your site in order to win more customers?
Nowadays almost all brokerage companies rely on affiliates, who refer traffic to their websites in exchange for commissions. And although one would think the amount of commission is the most important factor in a broker partner program, it is not the only thing that matters. There’s much more.
Having a partner program is a must if you want to generate profit and acquire traders. It’s such a popular solution because it’s a win-win and risk-free situation.
Affiliates get paid only if they direct potential customers to your site, so if they don’t, it costs you nothing and is not encumbered with any risk. However, you have to think very carefully about what you’re going to offer to your affiliates to make them want to refer traffic to your site and provide you with customers who will trade with you.
Of course, the Commission is of considerable significance, so you have to devise your commission structure very wisely. Don’t save on it, because I think it’s quite clear that affiliates will firstly refer traders to brokers, who ensure the most beneficial conditions to them.
And everyone who was in their shoes would do the same, so be competitive in this regard. It will certainly pay off in the long run.
Other issues you have to consider include the quality of the content and way of navigation on your website. Your portal is an another thing you can’t save on.
It’s your hallmark, the most powerful tool to attract traders and encourage them to stay with you. It needs to have an attractive layout, good quality content, be user-friendly, easy to use on mobile devices, and have something that will make it stand out. Think what you can publish on the site to entice potential customers or traders to take advantage of your offer.
Invest in good UX designers, who will create a unique landing page for your website. It’s extremely important and you can go further by offering a service to your partners, which consists in providing them with their own landing pages.
You also need to take care of the image of your site or company. You have to be recognized as a reliable, trustworthy trading partner. Therefore, always act professionally, establish a good reputation and prevent negative publicity and any other situations that could undermine traders’ confidence in your services. It is far more difficult to regain the lost trust than to prevent your company from losing it. Try to generate positive information about your site and ask others to recommend you in social media by ‘liking’ your services.
In today’s competitive market you need to be creative and inventive to outperform the competition. Therefore, you have to think about a unique selling proposition. Without it, you will just be the fish in the ocean of similar portals. Avoid popular and trite phrases that most brokers use to entice customers. Invent something new, totally unexpected and surprising for traders. Or think what’s your target audience and adapt the message to their needs making it as customized as possible. You could also introduce some incentives for traders, e.g. in the form of discounts or exceptional services.
And last but not least, check out what competitors offer. There are quite many affiliate programs advertised online, read about them to best adapt the assumptions of your broker partner program to the market situation. Compare what commissions are offered and what other options are presented to introducing brokers. There are also websites presenting the experiences of persons who participated in such programs. It would be advisable if you read what they expect from broker firms, why they resigned, what they found beneficial and what was discouraging. You can use this information as a guideline when developing your own program structure. Reward your affiliates fairly, it will certainly pay off.