Cryptocurrency affiliate partnership is a way to get some influencers on board willing enough for your project. These affiliates then help promote your campaign and get a commission if their campaign results in new leads or sales.
This method helps you increase the traffic without spending too much on advertising. It also serves as a win-win for your partners because they get rewarded to promote your project.
The referral marketing also provides us with a chance where we can promote it in such areas that are not annoying for users but rather both targeted and authentic. Support from affiliates who are passionate about your project and what it offers, will allow you to reach the ideal audience authentically, potentially leading to highly effective user acquisition.
It results in increased conversion rates and more focused strategy compared with traditional advertising approaches. Let’s look at how you can set up your own referral program and how to manage it properly.
1. Set the Right Commission Rate
Commissions are what you pay your affiliates for bringing in new referrals. In the crypto world, this is usually between 15% and 50% of what the new user spends. Here's how to decide what's right for you:
Check the Competition: See what other similar projects are offering. You want to be competitive.
Know Your Numbers: Make sure you can afford the commissions you offer and still make a profit.
Attract the Best: Higher commissions can bring in more experienced affiliates who can really help you grow.
Set Your Goals: If you want to grow quickly, you might offer higher commissions at the start.
Types of Commissions
One-Time: Affiliates get paid once for each new user they bring in.
Recurring: Affiliates get paid every time the user they brought in spends money, which is good for subscription-based services.
Setting Up Commissions
Be Clear: Explain everything about the commissions upfront, like how much they'll get paid and when.
Track Everything: Use a system to keep track of which new users came from which affiliates.
Pay on Time: Always pay your affiliates on time to keep them happy.
2. Create Effective Promotional Material
Give your affiliates the tools they need to promote your project:
a. Social Media Posts
Make posts that are interesting and look good on sites like Twitter and Facebook.
b. Email Templates
Give them pre-written emails they can send to their subscribers.
c. Banners and Graphics
Design images they can put on their websites or blogs.
d. Landing Pages
Create special pages with useful information about your affiliate program..
e. Tracking Links
Give each affiliate a special link so you can see how many people they bring in. You need to use a tool that can help you, we recommend Google Campaign URL Builder and UTM Tracking Code.
Google Campaign URL Builder and UTM can be found in Google Analytics. Both features are useful as parameters to track the source of clicks and page conversions.
With these tools, you will be able to measure the performance of your affiliate links more effectively.
How to Use Google Campaign URL Builder
Open Google Campaign URL Builder
The first thing you need to do to create a UTM code is to open the Google Campaign URL Builder page.
On this page, you will find various parameter fields that will become additional code to be inserted into a URL.
Fill in the Parameter Fields
You can start filling in the parameter fields as mentioned above. To see the performance of paid campaigns, you can fill in the Term and Content fields and get additional code. The same goes for other parameters.
Link Ready to Use
If the parameters have been filled in correctly, the link is ready to be used. You can also shorten your link by selecting the "Convert URL to short link" menu to make the page easier for visitors to access.
Analyze Results with Google Analytics
To get data analysis results, Google needs at least 3-5 days to collect data, starting from when the link was created. This analysis process is done directly by accessing the dashboard from Google Analytics.
Follow these steps: Acquisition > Campaigns > All Campaigns.
On this page, all the traffic data results from the UTM link will be displayed. To simplify the process, you can use the help of a spreadsheet for each UTM link.
Be sure to track the data regularly to find out which posts have the best traffic.
3. Recruit High-Quality Affiliate Marketers
Finding the right affiliates is important. Look for people who are interested in your project and can reach the right audience.
a. Reach Out Directly
Find people who are influential in the crypto world and contact them. Platforms like Twitter and LinkedIn are treasure troves for finding influential individuals in the crypto space.
b. Crypto Affiliate Networks
Partnering with top affiliate networks that target the crypto space can provide you a great system of potential affiliates. These networks help serve as that bridge between businesses looking for affiliates and then people or organizations that want to promote other products or services in the crypto space. This allows you to enter in a network of affiliates who are already interested or involved in cryptocurrencies and therefore should bring more traffic and leads.
List of Crypto Affiliate Networks
1. Coinzilla
Also a popular network but mainly used for crypto projects and blockchain related business. It provides multiple targeting options and ad types for audience matching.
2. AdBit
The next one with a long history in the crypto sector, AdBit is the network that connects advertisers and publishers with related traffic and audience. It provides several other options for ad formatting like banners, pop-unders and native ads.
3. A-ADS
This network benefits from privacy-centered advertising and can be paid in different crypto-currencies. This is ideal for projects which value user privacy and looking for a crypto savvy audience.
4. Algo-Affiliates
A multi-dimensional space for several industries, including (but not limited to) crypto. Features include realtime tracking, fraud prevention and commission structure customization.
5. FPM Global
Specializes in finance and crypto, offers innovative features like demo accounts, operates in over 100 countries, provides comprehensive support and resources for crypto businesses..
c. Create Good Content
Write blog posts or make videos that show your expertise and attract affiliates.
Content Formats
Blog Posts are detailed content that delves into a particular theme, provides education regarding your niche or industries trends etc.
Videos that cover everything from the basics of an idea to a detailed demo or feature interview with someone in your industry.
Infographics: Eye-catching visuals that explain a data set, fact or flow very easily.
Webinars & Workshops: A series of web-based events that offer insights relevant for potential affiliate marketers to participate from anywhere in the world.
Case Studies: The success stories that showcase the positive results seen with your current partners who demonstrate value-add from joining our program.
Content Themes and Topics
Technology/Features/Benefits related to your project
Educational Content: Use it as a guide to explain and teach about cryptocurrencies or as playbooks for cryptocurrency projects.
Industry Insights: Understanding the crypto market trends, news and developments.
Thought Leadership: Personal or organization opinion on the future of crypto and blockchain technology.
Content for Affiliates: Insights, strategies and case studies to educate prospective affiliates.
Content Distribution
Website & Blog: This is one of the ways for promoting your content on both website and blog to get targeted traffic without paying for ads (organic).
Social Media: Share your content on relevant social media platforms and interact with other affiliates to increase the exposure of your content.
If you do not have an email subscriber list, consider launching Email Marketing — Newsletters targeted to your existing readers (to promote the new posts) or specific campaigns to invite them to become affiliates.
Syndicated Content: Have other websites and publications to publish your content with a backlink to the original source.
If you can — Paid Promotion: Consider using paid advertising to promote your content and perhaps get some new affiliates that might not find your project through organic search.
You want to continually produce and promote good quality material so you will attract highly-qualified affiliates who are committed, genuine in their interest for your project or business, and motivated to share it.
d. Be Social
To find potential affiliates, get involved in online communities and forums related to your project. Share helpful information, answer questions, and build relationships with people who are already interested in your niche. Also, attend relevant events like crypto conferences and meetups. These events are great for networking and making connections that can lead to valuable affiliate partnerships.
e. Paid Advertising
If done correctly, paid advertising is the fastest way for any crypto affiliate program to grow and reach a wider audience. Whereas, with organic you need to nurture an audience over time, paid ads can deliver instant exposure and targeting. The program gets even more traction, meaning faster sign ups and driving revenue faster for your project.
Paid Advertising Channels
1. Social Media Advertising
Facebook, Instagram, Twitter and LinkedIn are places to reach large audiences combined with powerful targeting options. By visualizing what your affiliate program offers and following the example of a landing page with clear content, you can simply publish ads that promote click-throughs.
2. Search Engine Advertising
You can make use of platforms such as Google Ads and Bing Ads to put your adverts in front of users looking for keywords related to crypto affiliate programs, or specifically within your niche. Doing this can attract high-intent traffic that express interest in your offer, and affiliates who are actively looking for interesting programs.
3. Native Advertising
Integrate your advertisements in the form of content into relevant websites and publications, catering to a targeted audience without interrupting their activities. Native ads help build a brand that the customer can trust.
4. Display Advertising
This alludes to the hub of various types of banner ads that can be viewed on popular websites and apps. Display ads may have a lower click-through rate, but they can help drive brand awareness and target more people.
5. Influencer Marketing
Get crypto influencers on board to create awareness and promote your affiliate program with other followers. This can increase the trust of your contents and also give them exposure to a well-engaged audience.
4. Optimize Your Affiliate Program
The success of your affiliate program doesn't begin and end with building it. Instead, the journey to its prosperity is far from over — requiring a continued process of iteration and creativity.
You must continuously test the performance of your program and find ways to improve it. What works in crypto today, may not work tomorrow. And this is why you need to always be on top of it, monitoring and adjusting your strategy so that your affiliate program continues producing more leads and revenues.
Key Metrics to Track
These additional metrics will give you some much needed context into the overall health and performance of your crypto affiliate program:
1. Live Affiliates: Here how many affiliates are involved in your offering(promoting as it is). So a higher number = more (speak to) interest in your program, meaning that the outreach and incentive structures you have set up seem to be working with your potential partners.
2. Total Conversions: A measure of the total amount or type of desired action (such as signups, purchases) generated by all affiliates working together. A direct reflection of how well your program is working, and delivering on the business objectives.
3. Sales Conversion: this is the amount of money you have earned per affiliate-driven conversion. It also gives you a quantifiable number to define the financial results of the program for you and how it falls in your overall revenue stream.
4. Commission — This KPI keeps tabs on the amount of commissions that affiliates were paid. This is important for not only the economics of operating your program, but also in making it financially sustainable, and in providing a fair and rewarding compensation model for your partners.
Strategies to Enhance Each KPI
Number of Active Affiliates
Reaching to the right affiliates
In this case, you need a multi-channel approach — as well-spread use of socials and niche forums but also emails in form interests relevant value-offerings. Create effective program messages that describe why someone would want to be a part of your specific organization
Nice Incentives
Nice incentives include enticing sign-up bonuses, performance-driven rewards or even just access to specific information which is not shared with the public because all of these are rewarding to affiliates and make them feel special.
Execute Successful Onboarding
Create a structured and comprehensive approach to welcoming affiliates that provides them with all the information they need in order to become successful. This may consist of granular walkthroughs, FAQs, best practices and several other options for accessing dedicated support channels.
Develop Consistency
Take the time to establish open, transparent relationships with your affiliates by keeping them informed of new products and offerings as well providing feedback on their performance. This shows that you care about their success and helps maintain your relationship with them.
Number of Total Conversions
Audience Segmentation, Target Audience: Provide your affiliates with detailed knowledge of who it is you are looking to target so that they can change their marketing methods or messaging in order to reach specific segments which will help them reach their target.
Hosting webinars or workshops to educate affiliates on how best promote your Affiliate offers / services; The Optimization guides (also known as Call-to-Actions) for improving the quality & quantity of sales generated through each offer/promotion. Which allows them to continue tweaking their method, and getting more results.
Performance-Based Incentives: Introduce tiered commission structures, or bonuses to reward top-performing affiliates for the sense of accomplishment and motivation’s sake.
Conversion
Optimize Calls-to-Action: Make sure every promotion has clear, short and appealing calls which lead customers to take right actions like register for a newsletter or order something by adding their details.
Designing and Messaging for A/B Test: Use A/B testing to test different versions of landing pages, ad copy or email content to identify best-performing components that are the most appealing elements that resonate with your target audience can help increase conversion.
Countdown related Promotions: Make your affiliates run special promotions where they have to offer discounts/Deals for a few hours or days only, this will drive the users who are on the edge and you can directly convert them into customers.
Commissions
Competitive Commission Rates — You should always be checking the tendencies and some commission offerings in your industry so you can guarantee that most affiliates will choose yours instead of other programs.
Levels of Commission: Start them with lower rates and allow for increasing in commission percentage based on the volume sales as well you can also increase their percentages if they are performance level affiliates.
Performance-Based Incentives: You can provide extra incentives, rewards or bonuses to your top-performing affiliates to reward their outstanding efforts as well encourage them more in bringing the desired outcomes for you program.
If any of these metrics are closely tracked you will be able to better maintain your program as it continues down its future path. Remember, an affiliate program that works well is supposed to represent a win-win situation. Offer your affiliates the tools, help and motivations they need to succeed so you can build a community of effective partners who are working to grow your project in the long-term.
5. Management Tools
Properly managing an affiliate program while ensuring it remains dynamic in a rapidly evolving crypto space necessitates using dependable tools that simplify different functions. You can track affiliate conversions and manage payouts using tools or software to automate the process.
Recommended Platforms
Here is a list of the best affiliate management platforms with its respective strong points. The features and benefits of each tool are explained here:
1. ReferralCandy
Key Features: Intuitive interface, Advanced Tracking Capabilities, Automated Reward Fulfillment and Fraud Protection tools with Branding Opportunities.
Pros:
Simple to setup and use for non-developers.
Affiliates are accurately credited for referrals and conversions
Saves time and effort in terms of delivering rewards automatically
Lowers the risk of fraud to keep your program safe.
Branding: Tailor the look of your referral program to stay true to your brand.
2. Partnerize
Features: It has advanced analytics and reporting features, large-scale program support tools, is globally active tool similar to AdSense it also provides brand safety along with influencer marketing.
Pros:
Gives you deeper insights into how your program is doing so that data can drive what decisions to be made.
Provides dedicated support and resources to handle sophisticated, high-volume programs.
Enables global multi-currency and multi-language support for your program.
Safeguards your brand by verifying that affiliates comply with the rules you set forward.
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3. Impact
Integrated Solution: built with a full range of affiliate program management tools, tracking, reporting and communication along with payment processing. Automation — Covering partners, Fraud protection and Flexible commissions.
Pros:
This is an all in one solution for your affiliate site.
Helps to streamline workflows, eliminating administrative tasks, saving time and maximizing efficiencies.
It offers the flexibility to create personalized commission schedules and incentives to drive more affiliates.
4. Post Affiliate Pro
Key Features: Configurable platform, Deep-level Reporting options Multi-currency support Security/fraud detection tools Integration with API
Pros:
Tailors itself to your needs and processes
Gives more insights with reports and analysis of the results so far
Reveals data to help in achieving better performance
Allows a wide set of currencies for the international programs. Protects You Against Fraud and Maintains Integrity for Your Program. Makes it easy to integrate with other systems using APIs.
5. Tapfiliate
Features: Intuitive interface, live tracking and reporting, personalized dashboards for everyone from management to staff, automated communication tools
Compensation types: One-time bonuses or monthly percentages in multiple payment forms
Pros:
Simple to set up and use – even for novices.
Gives instant performance data and allows you to see how changes affect the look of your site.
Lets you build new dashboards for key metrics
Programmatic communication with affiliates to ensure they're kept in loop and are engaged.
Gives choice of how to get paid with payment methods for everyone
When selecting an affiliate management platform, some of the factors to consider are as follows.
Intuitiveness: The platform must allow you to use it easily and, more critically, your affiliates. The burden of a hard-to-use interface can bring annoyance to users and impede the adoption process.
Integration: How easily does the platform work with your website and other systems (such as CRM or email marketing) As a result, it allows smooth data flow and decreases any manual task.
Tracking: Platform should track every click, every conversion and all the vital measurements. Only if you have this data, can you measure your program and learn where to improve.
Flexibility: You need the platform to be able to be customized and then branded in your own way. This involves configuring affiliate dashboard style, creating exclusive tracking links and setting custom commission tiers.
Domain support: It will provide you a customer care service that can help you if there are any problems.
By analyzing these, you can decide which platform is right for you and keeps your crypto affiliate program tracked.
Building your own affiliate management system
High volume businesses or companies with specific needs might even be tempted to build their own affiliate program. This solution provides the most flexibility and allows you to customize all parts of the system for your unique requirements.
Benefits of Building Your Own Affiliate System:
Highly configurable: you can have it setup to work in a way that specifically fits the needs of your business. Off-the-shelf solutions can often not be that customized.
Full Ownership & Control: All of your affiliate data belongs to you Much like all other information we collect, the administrators retain control from beginning to end. You will have the freedom to modify and update as your business transforms without leaning on 3rd party services.
Cost Savings: Developing your own tooling might be more expensive upfront, but it will save you money in the long run by removing subscription fees for using third-party platforms.
Scalability: By designing a custom solution, it is enabled to scale with your business from 5-10 affiliates and transactions per month up until thousands of affiliate acquisition.
Unique Features and Functionality: Your affiliate program may be different from your competitors, which can attract top-level affiliates.
Developing a good and secure affiliate management system is an arduous task, which requires much technical skill pertaining to software development as well as database-management plus security protocols. This is something that you can not do alone, and the reason why you should hire a consultant.
Conclusion
A good crypto affiliate program can help your project grow a lot. By following these tips and using the right tools, you can create a successful program that benefits both you and your affiliates. Remember, it's all about building good relationships with your affiliates, giving them what they need, and always trying to make your program better.
