A successful affiliate marketing program is a great way to spread the word about your business. As part of your program, you provide a reward — usually money — in exchange for promotions. But just because your affiliates expect money doesn’t mean it’s the only option for compensation. In fact, having something non-monetary to offer can work in your favor.
In a sea of businesses providing monetary rewards, your non-monetary one can set you apart. You may even find that your affiliates appreciate something besides money, especially if it’s something beneficial to them.
Are you looking to offer something a little different? To help get you started and provide some inspiration, we’ve got a few of the top non-monetary methods to reward affiliates. They’re a win for both your affiliates and for you. You set yourself apart, and they get something unique.
1. Free Product or Service Samples
Who doesn’t love free samples? You may have sent a few goodies when your affiliates first signed up. They’re a great way to introduce them to what you have to offer.
If you haven’t sent out free samples in a while, it may be time to consider it, especially if you’ve expanded your offerings. It’s an excellent option for an affiliate bonus and a good way to keep your affiliates up-to-date with your business.
Should you decide to send freebies, consider sending two of each. That way, your affiliates can keep one to test out and offer the second as a giveaway to their followers.
2. Product or Service Discounts
A discount on future products or services can be an effective affiliate reward if you sell products or services that are frequently repurchased or if you sell a wide range of items. You have your choice of options here, including a percentage off a future purchase or a free month of a subscription. You might also consider providing your affiliates with a discount code that they can share with their followers.
3. Exclusive Deals
Maybe you’ve given your affiliates an exclusive deal that they can offer to their followers. Those types of deals can give them a substantial edge over their competition. Guess what? They can give you a competitive edge, too, if you offer them as a reward.
There are several ways you can go about offering such deals. For instance, you might provide early access or provide your affiliates with exclusive access to a product or service, or you can provide exclusive content to certain affiliates that only they and their followers can access.
4. Branded Merchandise
Do you have branded merchandise sitting around? Why not offer it as an affiliate reward? While it might not seem like much, your affiliates are people who already use your products or services. Providing them with useful swag can help foster loyalty and keep them engaged with your business.
5. Store Credit
Store credit is an excellent alternative to monetary affiliate rewards. It can be particularly effective if you work with customers-turned-affiliates who already buy from you. At the same time, it can help establish a positive relationship with your affiliates. They help you get more customers, and they’ll get credit to buy more of their favorites in return.
6. Gift Cards
Gift cards are another great alternative to monetary rewards for your affiliates. Third-party gift cards like Amazon or Visa essentially allow your top promoters to choose their rewards. They provide more instant gratification than store credit, especially if you don’t expect those affiliates to make a new purchase soon.
7. New Creatives
For your affiliate marketing program to work, your affiliates need to promote your business. Offering something that can make their job easier can be an exceptionally effective reward. To determine what might work best, think about the creative tools your affiliate marketers can use. What can they add to their website, social media pages, or newsletters? What can you do to help them help yo?
There are many creatives you can offer. Pre-written copy saves time, giving your affiliates more time to promote your products or services. Other options to consider include:
8. Content Creation Tools
Affiliate marketers are content creators. Part of being a content creator comes with needing expensive specialized equipment and software that allows them to promote your products or services effectively. You can ease the cost for your affiliate marketers by offering the tools they need as a reward, like a sponsorship for professional sports.
Some suggestions for content creation tools include:
These and other content creation tools make great rewards because they’re relevant and useful. Improving their website or social media accounts allows your affiliates to really impress their followers. It can also help them attract more. At the same time, their improved content can help them more effectively promote your brand and drive traffic your way.
Stand Out with Non-Monetary Affiliate Rewards
Figuring out how to reward your affiliates can be a challenge. Monetary rewards are the norm, but no one says you have to do the same thing as everyone else. In fact, offering something non-monetary may work better. It sets you apart from other companies with affiliate marketing programs, and, when you have something that provides value to your affiliates, they may find your offer more enticing. In other words, you both win.
Are you looking to launch and grow an affiliate marketing program? Whether you plan to offer monetary or non-monetary affiliate rewards, LeadDyno can help. The software is easy to set up, integrates with several of the most popular e-commerce, marketing, and payment platforms. You can track affiliate progress and watch your sales grow. Visit LeadDyno to start your 30-day free trial today.