Starting or Reviving Your Binary Options Affiliate Program?
You already know that binary options are growing in popularity. You’ve no doubt seen the emergence of new companies that have great platform along with great incentive plans. If you’re hungry for new traders, want to stay ahead of the competition, and want an increase in cash flow… setting up a binary options affiliate program is one of the most intelligent moves you can make to bolster your income.
Binary options trading is one of the fastest growing areas in the financial sector today.
As you already know, up until 2008, binary options were only able to be traded by professional brokers.
Since retail investors have been able to trade them through the Nadex over recent years, binary options trading has quickly exploded as a great way for investors to pull in chunks of cash quickly. Because of that using affiliate marketing to promote your binary options website is essential for leveraging the growth of binary options trading to your benefit.
Simultaneous with binary options trading growth is the consistent growth of affiliate marketing. The growth of affiliate marketing is projected to increase 34% from 2012-2014 , taking up the third position behind Social Media and and Mobile for revenue generation.
Additionally ROI from properly managed affiliate programs is substantially higher than standalone methodologies.
The reason is that properly managed affiliate programs allow you to rely on the experience of your affiliates and their marketing tactics to bring you quality traders…without needing to spend the money yourself.
Understanding Why The Popularity Of Binary Options Means You Need An Affiliate Program.
The reason that binary options trading is becoming popular for investors is the simplicity of the trading process. Since the investor is able to quantify risk and has the ability to profit quickly, binary options trading is becoming the next “hot thing.”
Of course trading binary options has a high risk factor. However the chance of substantial reward makes it very appealing for savvy investors. And since savvy investors are turning to the Internet more and more to conduct trades, your business is ideally set up to provide these investors with what they want.
As for the an affiliate program, affiliates are gravitating towards the binary options market because of the simplicity of this form of options trading. They understand that the trading binary options isn’t only popular, but can be quite lucrative for both investors as well as themselves.
Using Affiliate Marketing Program To Grow Your Business.
As binary options trading continues to grow in popularity, obviously one of the best strategies to bring more business to your website is setting up an affiliate marketing program.
Binary options marketing combined with a binary options affiliate programs is how you increase traffic and generate more leads. Here are a few reasons that you should consider when designing an affiliate program.
- Binary options popularity spells profit - By now I’m sure I should have no problem convincing you that the binary options are a great vehicle for profits. Great trading platforms continue to develop and the deregulation of the market means that there are quite a few new investors showing up on the scene.
The “common” investor has begun to move towards binary options because of the possibility of quick profit and mitigated losses.
As binary options trading begins to appeal to a wider segment of the population it’s important to realize that this means increased competition for brokers. This is where the use of an affiliate program is essential. Not only because it brings in more quality traders, but because it allows you to position yourself as the service provider to do business with. Increased competition gives the market more validity and allows you to position yourself as an expert based on the platform and incentives you offer. The better these are, the more apt affiliates are to promote for you.
- Find trusted affiliates networks to get you great leads - If you decide to set up an affiliate program it can either be done in-house or you can hire an affiliate network to help you acquire affiliates. The network you choose to use plays a vital role in the success of your affiliate program. Setting up an affiliate program in- house is doable, but it’s recommendedthat you use a network that already has an established affiliate base for you to tap into. The fact that affiliate networks have accrued a large pool of affiliates to draw from eliminates the need for you to find the affiliates yourself. Do take a moment to remember that affiliate programs are tough to manage from the outset. It’s recommended that you choose 1 or 2 to begin with and then move on and manage more if you’re up to it. Make sure to establish a relationship with them and work hand in hand with them so you are able to track the leads coming in and can assess they are the types of leads that are helping you generate profit. Also, it’s to your benefit that you your network has an excellent ability to track the leads that are coming in and has programs that track fraudulent fills, typo squatting and other unscrupulous activity that will harm your affiliate program. Lastly be reasonable and understand that affiliate programs require some work. When selecting a network evaluate the customer service they provide. You will need help, be assured they’ll be there to rely on.
- Pay for performance - A given…but one of best reasons to set up a binary options affiliate program is because you are able to take the streams of affiliate traffic and turn it into a river of revenue. While you determine payouts and revenue sharing, the bottom line is the increased amount of revenue brought to you by affiliates is absolutely worth paying for. They do a lot of the hard work, and…you take the cream off the top. However, you need to make sure that the affiliates that are driving you leads are giving you quality traders that you’re able to convert. It’s unfortunate to say, but fraud exists, so you want to be able to reward anyone who is a productive affiliate with great payouts and revenue sharing. Even better, when you pay for performance it allows the affiliate to invest in more marketing tools and run new campaigns that will make both of you more money.
The essentials You Need To Run A Binary Options Affiliate Program.
- A website that converts –Having a website that converts well is imperative. If affiliates are driving traffic to your site and you aren’t able to convert the traffic into customers, then you’re wasting time and money. Make sure to run A/B tests to see what on your website is converting well, and scrap what doesn’t. Look for conversions ratios above 1% before jumping into an affiliate program. If you’re website isn’t converting well, then affiliates will leave and team up with a company that is doing a better job of taking all their hard work and turning it into profit.
- Offer competitive payouts – In order to amass a large affiliate network that is constantly pushing you business, you need to offer them a competitive cut of what you make. Currently payouts of around $200.00 for new leads and revenue sharing of 25-35% are standard for binary options affiliate programs.
- Affiliate management – Make sure that you have a team member who can dedicate a significant portion of time to managing your affiliate campaign. Marketing campaigns don’t do well on auto-pilot; so create a position or find a person willing to work on it part or full time to get results. When you allocate resources for an affiliate program manager you will see explosive growth.
- Outstanding affiliate software – If you opt on doing an in-house binary options affiliate program one of the most important aspects of having making sure it runs well is the software you choose to do the job. Effective affiliate software makes running your business easy and helps you reduce fraud and reward outstanding affiliates.
It’s important that the software that you’re using is trusted by super affiliates. I like cake marketing and direct track as they have robust services that Affiliates hate program managers that don’t payout on time, or have bad tracking. Ensure you have well adjusted CRM tool as well. Here’s a great article on selecting affiliate software if you need some guidance.
- Content Marketing tools - Content marketing is one of the best ways for both you and your affiliates to bring in traffic. In an article I wrote about content marketing I illustrate how providing valuable content is one of the best ways to bring organic traffic to your site. Likewise, if your affiliates are provided access to good content they can bring more traffic to their sites, and then help you to convert that traffic into a new customer. One of the best ways to use your affiliate program to its’ fullest potential is to provide your affiliates with pre-made content they can use to market with. This way they can promote the content using whatever medium they have access to, and you’ll be able to benefit from their marketing methods.
At the end of the day an affiliate program for your business is a crucial piece to generating more income and getting more leads.
We’d love to hear what you think in the comments below.
Tell us about your experience with affiliates and how you plan to use affiliates to bring in business this year.