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Affiliate Marketing can be a powerful tool, and when it comes to generating efficient results and increasing financial growth for your gambling business, iGaming and affiliate marketing go hand in hand. The next thing that you need to consider is getting the right affiliate marketing software for your iGaming affiliate business needs and for its expansion, with options to categorize affiliate commission plans to support your affiliate programs.
One thing that you need to keep in mind to boost your online casino or sportsbook using affiliate marketing is to keep your affiliates motivated by paying them a good commission for their hard work.
The key to a successful iGaming affiliate program is hitting the appropriate commission rates that benefit your affiliates as well as your business.
In this blog, we’ve put together the most popular affiliate commissions in the iGaming industry, so even if you are new to affiliate marketing, we will help you get equipped with all the technical acronyms you need to focus on while configuring an affiliate commission plan for your iGaming business.
Cost per Acquisition or CPA is when an affiliate gets a one-time payment whenever a visitor performs certain action or event on your website, leading to a sale.
In simpler language, whenever you acquire a customer or when your website generates a deposit from a visitor, your affiliate gets paid.
It is one of the main commission types in iGaming affiliate marketing.
You can determine specific actions or events on your website in your commission plans, such as registration, first deposit, or any amount of money spent on your website by the visitor. Work your way up to an average rate fixed for your iGaming niche or for a targeted region and audience.
FTD or First-time Deposit is a subcategory of CPA. It mostly benefits operators who are looking to boost the acquisition of new customers who are ready to start playing.
FTD is one of the most popular affiliate commission types among affiliates in the iGaming industry as it is tied to the incentives of a player such as a bonus on the first deposit, which makes it easier to bring them on board.
It generates commissions for the affiliates only when the referred players make their first-time deposit on your website or platform.
This also allows you to choose to pay either a percentage-based commission or a fixed fee.
The revenue share commission type is known for generating revenue for the longest period of time. This attracts most iGaming affiliates as instead of a one-time commission per acquired customer, affiliates receive ongoing payments as long as the referred customer deposits on your iGaming platform.
The share varies from 5%-80% and it completely depends on what you as a brand offer to your affiliates. It can be progressive depending on the number of players an affiliate has helped you by referring to your website.
The Hybrid commission type is a combination of Cost per Acquisition and Revenue Share.
Here, the affiliate gets paid a one-time payment when a customer is acquired and a percentage of the long-term revenue generated by the customer on the platform.
For example, you can offer your affiliates a $30 CPA and a 20% revenue share for the first few months of revenue generated by the customer’s activity on your iGaming gambling platform.
The amount and percentages may vary from affiliate to affiliate, can be region-specific, payment specific, and depend on various other factors.
There are several factors you need to consider before creating an affiliate program for your affiliates and planning a commission plan is the most important factor of all. Your engagement with your affiliates is entirely influenced by how profitable the partnership is for both of you. Hence, they got to be aware of all the details of your program before they start working for you.
Here is a list of things you need to keep in mind before you start designing your commission plan to make your affiliate business a successful one.
Before designing your commission plans, we recommend you to analyze how your competitors develop their commission rates strategy. This helps you create competitive strategies for commissions in a particular region for your audience.
Most operators hide the real amount they will pay to their affiliates. From transfer deductions to various penalties, operators hide the real cost from their affiliates which disrupts trust in the business.
Show the real costs, including deductions to your partners and affiliates to avoid disagreements in the future.
Although you can create custom commission plans for your affiliates depending on their offerings, it is important for you to have a primary commission plan which shows a general structure of the commission types that you offer across platforms as your affiliate program can use multiple types of commission types simultaneously.
Having special bonuses helps in motivating your affiliates to remain active and work for you. It is considered a good practice and helps to build a quality audience.
Pay them bonuses if they attain a set target and you will see more engaging and motivating affiliates delivering quality work!
You need to set timeframes for all your offers in order to balance out the attractiveness for affiliates aligned with your business needs.
For example, you can give high revenue share rates in the beginning as new players register and then shift your commission type to CPA for the next quarter or year.
Affiliates operate from different regions across the world and so payment methods may also vary.
Keep in mind that before integrating your payment system in your platform, research various currencies and payment features that you might need in order to pay your affiliates.
Having an affiliate management software with an integrated payment system helps in reducing a lot of operational difficulties.
There is one more important component that needs to be in place for your affiliate programs in order to achieve better engagement: the right affiliate management platform that allows you to be flexible on your commission plans.
With Trackier’s iGaming Platform, you get a comprehensive analysis of your affiliates’ performance, optimize commission rates, get access to multi-channel tracking as well as a unique anti-fraud system built for the iGaming, casino, and betting industries.
Build a profitable campaign with Trackier and tailor your commission rates with ease.
Learn more about Trackier’s iGaming Platform. Get a free demo now!