Having spent so much time developing your affiliate program, you will want to ensure that both it and the actions of your affiliates are compliant with regulations within your sector. From iGaming to retail, there are many regulated industries that have strict rules that you need to pay attention to.
Let’s take a closer look at how you can keep your program compliant and thriving regardless of the industry you operate within.
Understand that it is complex
The laws surrounding regulation can be incredibly difficult to manage, especially if you do not have a legal background and are not used to dealing with some of the many clauses and terminology that can arise. However, you do need to make sure that you can understand the laws that might affect you to the best of your abilities.
Regulatory bodies such as the UK Gambling Commission (one of the many found in the iGaming sector) will try to make their resources as accessible as possible. You can always consult a legal expert for further advice as well. This is not an area where you will be able to claim ignorance if something goes wrong – so stay up to date with both current laws and any upcoming changes that might be on the horizon.
Educate your affiliates
It is also incredibly important that you educate the affiliates within your program. Whether they already have experience of your regulated industries or not, you need to make sure that they fully understand the repercussions that can be had for the brand if compliance is not met.
Something as simple as a social media post needs to be fully compliant with any and all regulations in your field. If you have an affiliate partner who is refusing to meet compliance measures, you may have to remove them from your program.
Expect changes across markets
Working within one market can be tough enough, but things can become even more complicated when working in regulated industries that stretch across multiple markets. You need to ensure that your program and any activities within it are compliant with each market that they are live in.
This can obviously be a little difficult to track if not properly planned. Researching the regulations of each jurisdiction to ensure that all aspects of the program meet them is a must. You need to make sure that any affiliates who wish to work in these markets understand that requirements can differ. Creating content that is compliant with all of them can be incredibly difficult, but it is possible.
Compliance is not something that your program can ignore. These industries are heavily regulated for a reason, and you need to ensure that you are doing everything in your power to ensure that the content created by you and your affiliates meets these standards. Learn more about the regulated industries you wish to operate and the groups that manage them – knowledge will always be power here.