Engage your affiliates and incentivize them to continuously promote your business with performance bonuses.
What is a bonus and how does it work?
Simply put, a bonus is a reward that your affiliates receive when they reach the target that you set in place for them.
For example, let’s say that you want to offer your affiliates a $50 bonus commission if they refer 25 orders. Or, let’s say that you want to offer your affiliates $100 in store credit (that they can use to make discounted purchases from your site) if they refer orders totaling $1500.
This is what performance bonuses are all about.
Let’s dive right in and see how you can get started with them.
Getting started with performance bonuses
Step 1: Activate the Performance Bonuses add-on
To get started, purchase a SliceWP Pro or Pro Plus license. This will unlock the Performance Bonuses add-on, alongside all other add-ons to help you take your affiliate program to the next level.
Then follow these steps:
- From your SliceWP account page, download and install the SliceWP Pro plugin. Click here for a step-by-step guide on how to do this.
- Once you have SliceWP Pro installed, navigate to your WordPress admin area > SliceWP > Add-ons page and activate the Performance Bonus add-on.
Step 2: Add your first bonus
With the add-on active, you’ll have a couple new pages in your SliceWP menu:
- Bonuses – Here, you’ll have the list of bonuses that you’ve made available to your affiliates.
- Rewards (which is under the Bonuses page) – Here, you’ll have a list with the rewards that your affiliates received for completing the target of a bonus.
To add your first bonus, go to SliceWP > Bonuses. At the top of the page, click the Add New Bonus button.
The first thing we’ll need to do, is to name your bonus. Add a name that makes it easy for you to differentiate this bonus from your other ones.
Next, let’s set the target that your affiliates need to reach. You have a couple of options to choose from:
- Number of referred orders – Your affiliates will need to reach a certain number of referred orders/sales in order to get the reward. As an example, let’s say 25 referred orders.
- Referred orders totals – Your affiliates will need to refer orders totaling X amount in dollars (or the active currency you’ve set for your affiliate program) in order to get the reward. Let’s say $2500 in referred totals.
Now that you have a target set for your affiliates, let’s set the reward you want to offer them. You have a couple of options to choose from:
- Bonus commission – This is a fixed amount commission, ready to be paid, that is automatically generated for the affiliate for reaching the target.
- Store credit – Similar to the commission, this is a fixed amount that’s credited automatically to the affiliate’s store credit wallet, once they reach the set target.
Next, let’s set the recurrence. Here are the options available to you:
- One-time – This bonus will only be rewarded once, when the affiliate reaches the target.
- Monthly – This bonus can be obtained each month by your affiliates, if they reach the target in the given month.
- Quarterly – Similar to monthly, this bonus can be obtained each quarter by your affiliates, if they reach the target in the given quarter.
- Yearly – Similar to monthly and quarterly, this bonus can be obtained each year by your affiliates, if they reach the target in the given year.
Finally, you have the availability options. These allow you to specify which affiliates have access to this bonus. Here are the options available to you:
- All affiliates – All of your active affiliates will have access to this bonus.
- All affiliates, excluding… – By selecting this option, you can specify which affiliates and affiliate groups should be excluded from having access to this bonus.
- Only selected… – By selecting this option, you can specify which affiliates and affiliates groups, exclusively, should have access to this bonus.
Now that you’ve set up your bonus details, click the Add Bonus at the bottom of the page to create the bonus.
Now that you know how to create a bonus for your affiliates, you have unlimited ways of creating a bonus strategy to incentivize your affiliates to refer more sales.
Get started with SliceWP
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