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According to We Can Track, SaaS based affiliates are expected to grow at a CAGR of 15.6% between 2024 to 2028. As consumers today are most likely to make purchases based on trusted recommendations, SaaS affiliate marketing plays a vital role for marketers.
It helps businesses promote their products online through partnerships such as SaaS referral programs that are more likely to drive conversions as they run on trust. Hence, brands can harness such partnerships to sustain in the long run.
Understanding SaaS Affiliate Marketing
Saas affiliate marketing can be described as a marketing strategy that involves affiliates or publishers promoting SaaS(software-as-a-service) products.
Affiliates gain commissions or rewards as long as a consumer remains a subscriber. It is a cost-efficient method of reaching untapped markets through affiliates or partners and expanding its customer base. SaaS businesses can thus cater to a wider audience and turn potential leads into buyers that make repeat purchases.
Is SaaS Affiliate Marketing Different From Affiliate Marketing?
Traditional affiliate marketing and SaaS affiliate marketing differ in their structures, purposes, and revenue models. It can be differentiated from traditional affiliate marketing in the following ways:
- Commission model- Traditional affiliate marketing can be associated with one-time purchases, whereas SaaS partnerships revolve around recurring SaaS affiliate commissions, as a software works on a subscription basis that does not end with a single transaction. Affiliates keep getting paid as long as a user remains a subscriber.
- Higher Prices- SaaS products are often more expensive compared to physical goods. Hence, affiliates can expect higher commissions for each referral they make.
- Motive- Traditional affiliate marketing has a clear motive to increase leads, conversions, or sales, whereas a SaaS affiliate strives to retain customers for the long run instead of just acquiring them through purchases they make.
- Longer sales cycles- SaaS affiliate partnerships have long-term partnerships that attempt to sustain them rather than focusing solely on instant conversions, as is the case with traditional affiliate marketing.
Ways To Build Profitable SaaS Partnership Strategies
SaaS partnerships are fundamental to growing your business. By forging affiliate partnerships, brands can stand out in a cut-throat environment. Some lucrative ways to build such partnerships are:
1. Pick Complementary Partners
Try forming a partnership with companies that align with your brand and its products. By tapping into each other’s customer base, brands can expand more. For instance, a company that offers management tools can collaborate with a company that offers time-tracking tools to deliver effective productivity solutions to its customers. While the companies can benefit from each other’s audiences, consumers can get the best out of such integrations.
2. Implement Mutually Beneficial Revenue Sharing
Create revenue-sharing models that are fully transparent and mutually beneficial. For example, a cloud storage service provider can team up with a document collaboration platform to share revenue from mutual subscriptions. Such partnerships can foster a system of shared profits from shared customers.
3. Create Co-Marketing Campaigns
Businesses can run co-marketing campaigns through collaborations like joint webinars, blog posts, co-branded advertising, etc., for a wider reach in audiences. Companies can capitalise on each other’s brand image to give a boost to their brand’s credibility. For instance, a CRM platform can jointly host a webinar with a brand that offers an email automation tool. This can act as a catalyst in attracting more qualified leads from both parties involved.
Scale Your SaaS Affiliate Marketing With Trackier
Trackier is a partner marketing platform that helps brands run their SaaS affiliate marketing programs at scale. Businesses can acquire high-quality customers and onboard the right partners to create high-value partnerships by running SaaS referral programs.
It offers features like unified tracking across channels and real-time analytics that are compliance-friendly and at par with industry standards. It thus helps brands build a sustainable marketing program with measurable revenue growth.
Conclusion
Modern businesses run on partnering with the right affiliates that are complementary to each other. Traditional advertising is no longer persuasive enough, as consumers today make purchases based on trusted recommendations. That’s where they turn to SaaS affiliate marketing, which has the potential to create a ripple effect on their marketing goals. It helps both SaaS brands and their affiliates to reap benefits like turning one-time buyers into repeat customers and turning event-based commissions into recurring commissions.
