Michael Katz looks at the questions to ask and which revenue models to pursue to get the best deal on finding a binary option brand to send traffic which is reputable, offers good deals and pays ontime.
Cue flashing lights and ambulance sirens! The majority of online trading platforms, whether it’s forex or binary options, begin life like an episode of Casualty or ER. Starting from critical condition, born from an emergency situation to make money, these newly formed brands rely on the life support of strong lead generation, resulting in hard and heavy deposits, in a best case scenario. Without being shocked to life with an intake of leads that convert via a strong sales conversion team, and then continual depositing from the work of heavy hitting retention agents, the platform will cease to exist. Rapidly! New binary and forex brand owners are compelled to let their heads of marketing know that the whole success of the business is upon their shoulders. Should they fail in their role, there will be no business. No pressure there then. That’s just how it is. So, from day one, online marketing directors for newly established online trading platforms have fear of failure as their key motivation, which drives the marketing effort for good or for bad. Not such a good starting point for complex deal negotiation. Then, while the marketing director is establishing new deals, the goal posts change. The owners add three more languages to the sales team, bringing the total number of telephone sales people to 23. Now, in addition to frantically hunting for the right online partnerships and media, the marketing director has to supply enough leads on a daily basis to keep 23 people, in four languages, busy. “Where are the leads?” becomes the mantra of the owners. “These leads are bad. They don’t answer!” becomes the mantra of the sales team. Then the dilemmas start to kick in for the marketing team. Should the deals be CPA, knowing that the lead count per affiliate will, in all likelihood be pretty low to begin with? Also, how long can the affiliate remain happy if the sales team is unable to convert leads? With that in mind, CPL sounds like the option to choose. Just one problem. CPL deals are costly and the owner has already made it clear to the head of marketing that an immediate return on investment is mandatory. Knowing this information from the affiliate perspective should assist affiliates in deciding which platforms to promote. Depending on your own traffic sources, working with the big established platforms is not always the right move either. For example, some of the bigger operators do not concentrate on conversion. In fact they put in minimal to no effort on conversion. So, unless your traffic is ‘self-converting’ it could be a waste of your resources. The burning questions So how then should affiliates decide which brands to promote and which to avoid? And which revenue models to pursue to obtain the best deal? Here are the key primary questions to ask an affiliate manager. And let’s assume that the answers given won’t be too liberal with the truth.
- How long have you been in business?
- What are your payment methods for affiliates?
- How many sales people in your call centre?
- What’s the percentage split between retention and conversion?
- What is your conversion rate for each of your targeted geos?
- What’s your average trader value?