Affiliate marketing ideas for insurance brokers

By Jason Hulott | Affiliate Marketing

Affiliate marketing can be a highly effective tactic for insurance brokers, helping you to win more business. If you are unsure what it entails but you want to try it out, here are some ideas to get you started.

In-house or outsourced programme?

One thing to decide is whether to run your affiliate programme yourself or to outsource it. With an in-house programme, you may get more contact with your affiliates and more control, but it can also take up more time, and recruiting affiliates can be harder.

If you outsource it, you can immediately take advantage of an established network, and it can be much quicker to set up. However, it will cost more, so this is something you have to decide upon.

Do your research

First of all, it’s important to do your research before starting any affiliate campaign because there are a number of things you will need to know.

This includes choosing a model that is suitable for you. There are many options for affiliate marketing, so look at the schemes being run by your competitors and get an idea of how they are running their campaigns.

Following your research, you want to have a good idea about:

  • who you are targeting;
  • how much revenue you expect to make from each affiliate;
  • the commission you are prepared to pay;
  • your total revenue expectations;
  • whether you will pay commission per sale or per lead;
  • whether you will pay a percentage of the sale or a fixed amount.

Find your affiliates

You have various options when you start looking for affiliates. You could use an affiliate platform where many marketers will already have a presence, and they may then find you directly. But there are other ways. For example, you could:

  • advertise your programme on social media and through other forms of marketing;
  • invite people to your programme;
  • tell people about it in forums;
  • use affiliate directories;
  • use affiliate recruitment agencies.
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Make sure you are clear with your affiliates

Your affiliates will become a source of revenue for you, so look after them well. Make yourself available to answer any questions your affiliates and also provide them with the materials they need to make more sales.

Create marketing materials they can use, and this can help to attract more affiliates to your programme. These could include:

  • articles that they can reprint in emails;
  • reports and research;
  • promotions;
  • banners and logos.

You could even send your affiliates tips via email or create a forum specially for them. Keep in touch, and value them because they are helping your business.

You should also create a page for your affiliates on your website where you can provide them with details of the whole campaign including an agreement that they can follow along with payment terms.

Get your affiliate programme up and running

A successful affiliate program can turn into an excellent marketing platform for you, helping you to make more sales. It may take some time to get up and running, but try it out and give it a few months to see if you can make it work. You never know, it may turn into an important source of revenue.

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About the Author

Jason Hulott is Business Development Director at Digital Marketing Specialists, Speedie Consultants. He is Google Partner certified. His role is to identify and implement traffic generating and revenue increasing ideas for our client base.