MaxBounty’s original Affiliate Referral Program was first offered to MaxBounty affiliates with the purpose of achieving two specific objectives:
To increase affiliate sign-ups to MaxBounty’s network
To offer active MaxBounty affiliates an opportunity to earn secondary income in addition to what they earn promoting campaigns
The affiliate rewarded bonuses to current MaxBounty affiliates for getting new affiliates to sign-up to MaxBounty.
This version of the affiliate referral program generally succeeded at achieving its objectives on a consistent basis. However, after conducting extensive research including one-on-one conversations with affiliates and analysis of referral program data, it was determined that improvements could be made to greatly increase the earning potential of those promoting referral links.
Obstacle
Two common obstacles were identified after analyzing internal data and feedback provided by MaxBounty affiliates.
Firstly, affiliates lacked an attractive incentive to offer other potential affiliates.
Although they could receive a referral bonus, the accounts they were referring did not receive any bonus for becoming a MaxBounty affiliate. This prevented them from using an effective call-to-action when promoting their referral link. In return, this limited the overall interest affiliates had in the referral program.
Secondly, affiliates also felt that the referral bonus structure was flawed.
MaxBounty’s original referral program would pay affiliates a bonus equal to 5% of the eventual earnings of each approved affiliate they referred to the network. They would continue to earn these bonuses for up to a year after each referred affiliate’s approval.
Affiliates voiced that this structure limited the impact of their referral income. They would prefer to receive the totality of their referral earnings for each referred affiliate at a quicker rate. Not only would they simply receive what they earned quicker, but it would also give them the ability to use this income to supplement their affiliate campaign budgets.
Solution
MaxBounty decided to introduce a new and improved referral program structure that offered more lucrative benefits to both referring affiliates and referred affiliates.
MaxBounty’s Give 10/Get 10 Affiliate Referral Program was launched near the end of 2023 to coincide with the company’s upcoming 20th anniversary (10+10 equalling 20).
The bonus structure of this new referral program is as follows:
Referring Affiliates
Previously, for every new affiliate that a current affiliate would refer to MaxBounty, that referring affiliate would receive a bonus equal to 5% of the referred affiliate’s monthly earnings. That 5% bonus would then be paid out monthly for up to a year.
The new referral program condenses this bonus into a shorter time frame. Referring affiliates now receive a bonus equal to 10% of their referred affiliates earnings for six months instead of a year. This puts more referral earnings into the pockets of MaxBounty affiliates sooner, making it more useful for funding campaign testing and optimization.
In addition, affiliates now also receive an automatic $100 bonus once they refer ten, approved affiliates into MaxBounty’s network. This provides further incentive for them to refer affiliates while rewarding them for being prolific referrers.
Referred Affiliates
For the first time, new affiliates signing up through a MaxBounty affiliate referral link also receive a bonus.
These affiliates automatically earn a +10% bonus on top of their first affiliate payment, regardless of the amount of that payment.
The goal of this bonus is to assist referring affiliates in incentivizing others to sign up to MaxBounty. This will increase the quantity of affiliates they refer, therefore increasing the amount of referral income they earn.
Performance Results
A recently conducted study that compared referral data from MaxBounty’s previous affiliate referral program to its current one indicates that MaxBounty affiliates are earning more than ever referring affiliates.
The new bonus structure is succeeding at increasing affiliates’ referral income by helping to increase the number of submitted applications they refer and rewarding them more for doing so.
Here is how MaxBounty’s Get 10/Give 10 Affiliate Referral Program has performed when compared to the previous iteration of the referral program:
+45% year over year increase in total referral bonus amount paid out to MaxBounty affiliates.
+36% year over year increase in average affiliate referral program income among affiliates who referred at least one new account.
Over 600 total bonuses paid out to MaxBounty affiliates since the inception of the new referral program.
If you’re a MaxBounty affiliate, you can start earning referral income right now by promoting your unique referral link found within the Affiliate Dashboard,
If you are not currently a MaxBounty affiliate, sign-up to MaxBounty now to participate in our referral program and start earning secondary affiliate income.
The post Case Study: MaxBounty Affiliates Increase Their Referral Income by 45% with New Referral Program appeared first on MaxBounty Blog.