How Affiliate Marketing Generates High-Quality B2B Leads
In addition to setting up an affiliate program from scratch for a B2B service provider, the Acceleration Partners team also came up with a more strategic and effective approach for their program that has enabled the client to realize a notable increase in the volume and quality of both leads and new business customers.
Product purchase upon sign up and active seller rate
8.5% rise in the number of business owners who purchased a product at the time of sign-up during the first month of the program being live.
15% increase in the active seller rate (those actively use the service within 30 days of signing up) during the first month of the program.
Clarifying Confusion and Concerns
In our initial conversations with the client, they expressed concern that the affiliate model was not "proven" to offer value to B2B-type businesses and that perhaps it wouldn't work for their suite of products. While AP knew the opposite to be true, we understood that, in many ways, the model needs to be seen in action to be believed.
As the B2B service provider was completely new to affiliate marketing, we proposed a pilot program for them, which allowed them to mitigate risk while giving them the opportunity to experience first-hand how valuable the affiliate model can be.
"This client offers numerous benefits to small and large business owners alike. For instance, a business owner can sign up for free for our client's service. When they do, they'll also receive a free product (hardware) that enables them to use our client's software," said Amy Crider, an Account Manager at Acceleration Partners. "The more that business owner uses our client's service, the more revenue our client generates. The client also sells a suite of products that help business owners maximize the free service they signed up for."
Initially the client wanted to pay affiliates to drive sales to their suite of B2B products. While leveraging affiliates to drive sales for the B2B service provider's hardware could be effective, the issue was that this approach would mean affiliates would primarily need to focus on the service provider's existing customers.
"When our team looked at every angle of their business and services offerings, we determined that our client would realize substantially greater lifetime value (LTV) if they used the affiliate model for lead generation," said Crider. "This more strategic approach would provide the client with new customers and high-value leads that they could upsell to."