I can hear you saying, “What’s he talking about?” Sounds like kids squabbling over the cookie jar, doesn’t it? Well, it’s sort of like that I guess. But, what we’re focusing on here is not chocolate chip or peanut butter cookies, but rather affiliate credits.
First cookie is when the first affiliate gets credit for a sale, and last cookie is when the affiliate that sends a visitor to the site last gets credit for the sale. Here at Strategic Profits, we’ve used the first cookie model in our last product launch because we feel it’s fairer to the affiliate. Then we take over the contacting the customer and selling them on the product.
But most affiliates understand the last cookie process more because most affiliate programs are last cookie. That doesn’t always mean it’s the best model to use for your JV promotions.
In our last product launch there were problems: simply because we used first cookie, our affiliates mailed only once for our products and then most didn’t mail again. Had we used the last cookie model, it would have meant affiliates would have continued to mail
and possibly made more sales. I heartily recommend using last cookie. While affiliate relationships can be profitable, the basic nature of things means that your affiliates promote your products strictly for the commission involved: that all-important cookie is the sole motivator. In a true joint venture, there is more of a synergistic, intertwined relationship with the partners – a relationship that matures over time, increasing the overall benefits of doing business together.
Tip: Here’s how to make your affiliate program better. Set up your in-house affiliate program so you can easily do monthly or yearly renewals on your product and pay affiliates recurring commissions. If you choose to outsource your affiliate program, see if this is an option with them.
Co-marketing Joint Ventures
An example could be a seminar promotion, where you get all of the speakers to mail to their list to help fill your seminar. Here the promotional duties are carried out by all who have an interest in the success of the event. At our last Strategic Profits conference we had workshops in addition to our main conference. These workshops were put on independently by the speakers and the speakers were partly responsible for the marketing of the workshop. What this did was provide an opportunity for the speakers to piggy back off our successful conference, and also a way for us to get more people into our conference by leveraging the marketing activities of the workshop presenters
Sales Joint Ventures
There are commissioned, independent sales representatives; people who are ontraditional sales people who can take over and participate in a sales function with you, even though that’s not their normal business – again, the possibilities are limited only by your imagination.
BIO: Sussan Deyhim is from medical marketing and a University Lecturer. She loves to write on technical topics like medical website. She is writing from last three years