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You are here: Home > Internet and Businesses Online > Affiliate Revenue > Let Your Affiliates Become Your Recruiters |
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Just Other Articles - Let Your Affiliates Become Your Recruiters
Have you ever thought that your affiliates could drive even more business to you by having an affiliate program for your affiliate program? Before you have a nose bleed, this is simply achieved by offer According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product ing your current affiliates a two tier payment mechanism. The first tier is the one they are on now; they get paid for referring business directly to you. The second tier is a payment to the affiliate f ; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug. Examples of combination products may in r any business produced by someone else that they have recommended joins your affiliate program. This guy is what is known in the trade as a “sub-affiliate”. For example, Joe sends you business each wee lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together. and notices that you offer a two tier scheme, he then thinks, I know some people who’d be interested in promoting this too! So he gets Fred, Barney, Betty and Wilma to sign up to your affiliate program. here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe In doing that, you give Joe a commission percentage of the sales they have generated. This could be a 5% on top of what you would pay normally. Do you see the benefit from Joe doing this? He may refer p d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations. Combination pro ople that will sell much more product that he can yet he will still earn and income, and that can be great for doing very little work! It is a true Win, Win, Win! The affiliate is happy, the sub affilia ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc e is happy as he has a new program to promote, and you are happy because without the Affiliate you’d have to try and find these affiliates. Trust me some of these super affiliates that can really turn ar easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi ound your business are real hard to find! This way is only going to cost you an extra 5% on sales. Now before I get you too carried away, you really need to think about adding a two tier structure at th nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically get go or make sure you have the profit margins, reducing your affiliate’s commissions just to introduce a two tier structure will not motivate anyone. You have to make sure any new commissions come ou and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ of your end not the affiliates. Having said that, a two tier affiliate program can launch you and your affiliate revenues into the stratosphere. How to I set up a Two Tier System? One of the drawback ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi to the major affiliate networks is that not many offer a Two Tier System. With this in mind it might be best to use an “in house” affiliate solution to run along side any existing affiliate program you ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it. Following aspects would a ay have and invite affiliates to join. The best solution that I have used is AssocTrac by the Internet Marketing Center. It is a software solution that runs off your own web server and you have full cont dd to the challenges in developing combination products: Which markets to tap where the combination products can do fairly well? Which combination prod ol over everything. It is also relatively simple to setup and run. The other solution that works fantastically well is My Affiliate Program (MYAP) by Kowabunga Technologies. This is a hosted service, i. cts are meaningful and rational? Which therapeutic categories to select? Which Combinations can address unmet needs of the patients? Do combin . it sits on someone else’s server. This has its advantages too. It is quick to implement, the learning curve is not as high as AssocTrac. The downside I suppose is the feeling of a lack of ownership. Cl tions increase the patient compliance? What would be the developing cost? How to tackle the risks encountered during combination product developmen ick here to read more about My Affiliate Program (MYAP) How to I promote a Two Tier System? If you have an existing program with a large affiliate network that doesn’t offer a two tier system then it m t? As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel y be an idea to create an in-house system such as AssocTrac or MYAP and then invite key Affiliates into a Two Tier Scheme. Make sure though that if this is what you do, you only offer the second tier. Le ping new procedures for reviewing their safety, efficacy and quality. Professional from academic institutions, pharmaceutical industries, health care indust them continue to earn there income through your affiliate network partner. You don’t want to be in breach of your terms and conditions. Secondly, tell your affiliate network what you are trying to do. y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products They may not have an off the shelf solution but they may be able to find a way of managing within your existing affiliate management tool. If you don’t have an affiliate program currently running then i . As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de may be easier to start with MYAP or AssocTrac. You can then use your Two Tier system as an incentive for affiliates to join and start recruiting other Affiliates. As you can see, there are good reasons elopment. They need to be wiser in analyzing the market trends and the regulatory requirements. Companies that provide selfless information through particip why you should look at a two tier system; in fact I can’t see a good reason not too! It will drive sales, motivate affiliates, and have your affiliates actively marketing your program for you! Good Luck tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products
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