Recruiting Financial Affiliates
We launched our debt affiliate program a few months ago. We are in a very competitive market, debt settlement, where we are looking for affiliates who can generate high quality leads. Our payout is different than most debt affiliate programs. Most programs in our industry will pay a straight lead commission, usually between $11-15/per lead. Most merchants will then take these leads and sell them to the multiple companies for double the price that they paid their affiliates. Hence, the quality is usually on the low end because the merchant is not concerned with quality but quantity.
Our program focuses on quality where an affiliate can earn substantially more per lead if the quality of lead is high. We pay between $150-$200/close and also pay our affiliates $1-3/lead on top of this. This is because a close may take a little longer than a normal per close/sale commission and we want to keep our affiliates happy while there pipeline builds up.
I have some very good affiliates who are making between $30-$40/lead but I am having trouble recruiting more. I understand that some people may be scared away by our commisson structure and this is alright by me. The affiliates who know they have quality leads love our program. For example, I have an affiliate who averages around 2 leads a day and has already earned over 10K in less than a year. His leads are great quality so quantity doesn't mean a thing.
Does anyone have suggestions on how to promote a program like this where quality is the main concern? We also have built an in-house tracking system where the affiliate can watch the progress of their submitted leads in real time.
I would love to hear other affiliate managers responses. I appreciate all your help.
Scott
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