As the number of people cutting the cord and ditching traditional cable continues to grow, so too does the number of streaming platforms that are available to them.
If you’re in charge of running an OTT platform affiliate program, it’s essential to keep a few key things in mind to ensure its success.
Top Tips for Managing an OTT Platform Affiliate Program
Offer Attractive Commission Rates
The first tip is to offer attractive commission rates. With so many OTT platforms vying for attention, you must ensure that your commission rates are competitive.
Otherwise, you run the risk of losing affiliates to other programs. In general, a reasonable commission rate is between 15-20%.
Pay Promptly and Accurately
Another important tip is to pay promptly and accurately. It means paying commissions within a reasonable timeframe (usually 30 days) and ensuring correct amounts.
If affiliates feel like they need to trust you to pay them on time and in whole, they will not want to work with you.
Offer Support When Needed
It’s essential to offer support when needed.
Affiliates should be able to contact you with any questions or concerns and know they’ll receive a prompt and helpful response.
If they feel like they’re being ignored or that their concerns are falling on deaf ears, they will take their business elsewhere.
Select the Right Partners
One of the most important decisions you’ll make when launching an affiliate program is who to partner with.
When selecting affiliates, look for those with a proven track record of success that aligns with your brand values.
Avoid partnering with affiliates known for spamming or with a history of violating terms of service agreements.
Not all content creators will be a good fit for your affiliate program.
When choosing partners, look for those with an engaged audience likely to be interested in your OTT platform.
It’s also essential to make sure that their channel aligns with your brand and that they’re willing and able to promote your platform in a positive light.
Offer Competitive Commission Rates
To attract quality affiliates, you need to offer competitive commission rates.
Affiliates are in business to make money, so they’ll be more likely to promote your products or services if they earn a good commission on each sale.
Research what other companies in your industry offer and ensure your rates are comparable.
Provide High-Quality Marketing Materials
You’ll also need to provide high-quality marketing materials and offer competitive commission rates.
This includes product images, banner ads, text links, and email templates that affiliates can use to promote your products or services.
The better your marketing materials, the more potential affiliates will use them—and the more sales you’ll generate.
Set clear guidelines and expectations.
Once you’ve chosen your partners, setting clear guidelines and expectations for the program is essential.
What kind of content will you allow them to create?
How often do you expect them to promote your platform?
What are the terms of the commission arrangement?
Having these guidelines in place from the start can ensure clarity and satisfaction.
Manage and monitor progress diligently.
After launching your affiliate program, keeping a close eye on its performance against your goals is essential.
Are the partners you chose delivering results? Should you improve conversions?
Regularly monitoring progress and making adjustments as needed will ensure that your affiliate program is as successful as possible.
Keep your affiliates happy.
The first step to a successful affiliate program is keeping your affiliates happy.
This means paying them on time, providing them with regular updates and information about your platform, and being available to answer any questions or concerns they may have.
When happy, your affiliates will be more likely to promote your platform and drive traffic your way.
Vet your affiliates carefully.
It’s also important to vet your affiliates before approving them to join your program.
You’ll want to ensure they’re a good fit for your brand and that their website or blog receives decent traffic.
The last thing you want is for someone who’s barely scraping by in terms of traffic to start promoting your platform—it’s not likely that they’ll be able to generate many leads for you.
Offer incentives
Incentives are a great way to motivate your affiliates and get them excited about promoting your platform.
Some common incentives include giveaways, contest entries, and exclusive access to content or features.
By offering incentives, you’ll create a win-win situation—your affiliates will be more likely to promote your platform, and you’ll be more likely to generate leads and conversions.
Set clear guidelines
Finally, setting clear guidelines for your affiliates before they start promoting your platform is essential.
This includes what language they can use when talking about your platform, what kind of promotional materials they can use, and how often they can promote your venue on their website or blog.
By setting clear guidelines, you’ll ensure everything is clear and precise.
Be Selective With Your Partners
It’s important to remember that not all partnerships are created equal.
When selecting affiliates to work with, carefully vet them to ensure they’re a good fit for your brand and have a proven track record of success.
There’s no sense in partnering with an affiliate who isn’t going to drive results or who doesn’t share your values.
By being selective upfront, you’ll save yourself a lot of headaches down the road.
Communicate Regularly
Finally, remember to communicate regularly with your affiliates.
This includes sharing updates on changes to your program, highlighting successes, and offering support when needed.
By staying in touch, you’ll build strong relationships with your affiliates and ensure everyone is on the same page.
Plus, regular communication will help you identify potential issues early on so they can quickly resolve.
Promote Offers on Your Site or Blog
The first step in taking advantage of an affiliate program is promoting the offers on your site or blog.
This can do through banner ads, text links, or other creative means. Choosing relevant offers for your audience is essential, making them more likely to click through and convert.
For example, if you have a blog about television shows, you would want to promote an offer for a streaming service that carries those shows.
Use Social Media To Spread the Word
In addition to promoting offers on your site or blog, you can also use social media to spread the word.
It is a great way to reach a wider audience and drive traffic to your site.
Post creative and engaging content that will grab people’s attention and encourage them to click through your affiliate links.
Keep Track of Your Results
It’s essential to keep track of your results to see what’s working and what’s not.
Most affiliate programs will provide tracking tools to see how much traffic you generate and how many conversions you get.
This information will help you tweak your approach to maximize your results.
Pick the right affiliates.
Not all affiliates are created equal. Some have large audiences, some have niche audiences, and some have engaged audiences.
It’s essential to pick affiliates that align with your target audience and can effectively promote your platform to their followers.
Build relationships with your affiliates.
Your relationship with your affiliates is critical to a successful affiliate program.
Make sure to stay in communication with your affiliates and build rapport.
After all, they are helping you promote your product, so you must show them you appreciate their efforts.
Offer incentives
Offering incentives is a great way to motivate your affiliates to promote your platform.
Whether it’s a commission on sales generated or a contest for the most creative promotion, giving your affiliates something to strive for will help them put more effort into promoting your platform.
Monitor results
Keep track of which affiliates are performing well and which ones aren’t. This will help you determine which affiliates are worth keeping in the program and which ones must replace.
Monitoring results will give you insights into what strategies are working well so you can replicate that success with other affiliates.
Conclusion
Managing an OTT platform affiliate program requires a delicate balance of offering competitive commission rates, paying affiliates promptly and accurately, and offering support when needed.
Get these three things right, and you’ll be well on your way to running a successful affiliate program.
Managing an OTT platform affiliate program can be a lot of work, but it is worth it to have a successful business.
Following the tips, you can successfully manage your OTT platform affiliate program.
If you need help getting started or implementing these tips, contact us for OTT Platform Consulting.
We would be happy to help you get started and ensure your affiliate program is successful.
