[Hidden-tech] Re: Referral Commissions...

[Jeanne Yocum]

Hi,

I once had the kind of ³affiliate² relationship you¹re talking about with
another PR professional.  We gave each other a 10% commission on any
significant referral.  If it was just a small job, we just treated the other
person to lunch. 

But I would suggest being careful with your affiliate program.  Probably 90%
of my business comes from referrals, many of them from clients and I have
found that these people don¹t expect or want anything other than a thank
you.  In fact, I had one client who sent me a TON of referrals that led to
long term clients and he did it because he liked to tell his friends that he
had, to quote him, a ³super PR consultant² who could help them. It was part
of his self-image to think that he always had the best of everything and to
tell other people about it. So that was his ³reward² and it meant far more
to him than any money I could ever offer him...given that he is a
multi-millionaire! 

In short...don¹t start giving away income that you don¹t have to give away.
Plenty of people are happy to give referrals for all kinds of reasons, many
of which have nothing to do with the thought of a financial payback.  I
recommend playing it by ear with each individual.

Jeanne Yocum  | Principal
____________________________
Tuscarora Communications, Ltd.
Granby, MA
www.yourghostwriter.com
Member: National Writers Union



  
On 10/27/06 1:12 PM, "DAVID F. FARKAS" <david at farkas.com> wrote:

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> 
> 
> Hello again... 
> 
> Thanx to all who gave me great insights into the issue of pricing affiliate
> commissions. The conversation seemed to go sideways into web implementation of
> the programs. I'd still like input about how to structure the amount of the
> commission itself.
> 
> BTW, if you want a web infrastructure that makes complex affiliate programs,
> etc, really easy check out...
> http://www.WealthAutomator.com/app/default.asp?PR=80&ID=90073
> 
>  <http://www.WealthAutomator.com/app/default.asp?PR=80&amp;ID=90073> Here is
> my original question...
> 
> 
> Hi All...
> 
> Can I use you guys as a Mastermind group? Thanx!
> 
> I'm setting up an affiliate program that will track referrals and let me give
> thank you commissions for completed sales.
> 
> The price for the service I provide can vary from $250 to, right now, $2000
> (that may increase as I move into the luxury market.)
> 
> I'm trying to figure out the metric for the reward / commission. If a client
> gives me an occasional referral the reward will probably be a thank you note
> and a crisp $10 bill or some chocolate. But for business relationships where
> people refer consistently and often I want to provide a real commission and
> incentive. 
> 
> Here's the rub.  At the low end of the price spectrum a small percentage is a
> pittance and if I make it larger it cuts deeply into profit. At the high end
> the same commission is quite substantial (Hundreds of dollars.)
> 
> Has anyone worked this out in their business... or do you just have some
> brilliant insights that will get me unstuck on setting this up? <g>
> 
> Thanx.
> Many blessings,
> David
> 
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