Closing a sale with an affiliate can seem like an endless task – but it doesn’t have to be. Choosing the phrases and choices to close a commercial negotiation is sometimes crucial to your bottom line. The thing is, you’re not the only affiliate manager who feels this way.
It’s totally natural to be apprehensive about getting a big deal to the close. However, without that feeling of risk, successfully closing a sale wouldn’t be so satisfying. It’s this feeling that usually drives affiliate managers forward to reach monthly targets.
So how do you overcome the psychology that could be holding you back? Understanding different selling techniques is a good place to start.
Here, I’ve summarised three of the most popular sales techniques I typically use to close new affiliate deals:
It’s now or never:
This is where you’d make an offer that includes a special benefit that prompts an immediate action or result.
- “This is the best commission I can offer.”
- “If you commit to buy now, I can fast track you to the front of the implementation queue for API’ integration.”
This creates a sense of urgency and can help overcome delays if an affiliate is interested but for some reason isn’t yet pulling the trigger to join.
Through using this technique, you must always establish value before offering a discount or promotion. Make sure you understand the need of the affiliate before offering something that doesn’t add value to their business.
2. Here’s what you get summary:
Affiliate managers who use this closing technique repeat the items they are giving to the affiliate (stressing the value and benefits or each) in an effort to get the affiliate to sign up there and then.
“So we have the 50 per cent revenue share, a fast track to our API integration and a bonus of X if you deliver Y in your first 30 days plus my direct contact information. When would be a good time to process your application to our program?”
By summarising previously agreed-upon points into one impressive package, you’re helping an affiliate visualise what they’re truly getting out of the deal.
This one could be a great method to use at events when you’ve finally managed to meet an illusive affiliate and want to seal the deal on the day, and get them signed up to your program ASAP.
3. The “add on” angle closing technique:
Affiliates can often ask for higher pricing or additional add -ons like listing fees if you are approaching them to promote your brand. Why? Because they know they can and they also know you (affiliate manager) will probably also agree to it to get the sale.
If you have approval from your head of affiliates or line manager to do so, try a sharp angle close technique to close the deal. Here’s a good example: When they ask, “Could you add on a special discount code for me to use exclusively” – reply, instantly “Sure. But if I do that for you, you’ll need to sign the contract today”.
Why does this work?
It’s likely they won’t be expecting this response, they’d be looking for a yes or no answer and some further negotiations to take place. But, because you agree to their initial request, with no further to and fro you cut short the haggling process. Secondly, you’ve proposed closing that day (an action is required to secure it) so you’ll expedite the closing and go to live processing, helping you reach your target fast.
Being skilled at closing commercial sales is one of the most important affiliate manager techniques you can master.
Finding a mentor who excels at it these selling techniques may be hard to find, but it is a key way to learn this skill on the job.
You can also book here to join our next Advanced Affiliate Manager Training Academy in London on the 5th February 2020 – to learn the exact techniques we teach that help affiliate programs grow, successfully.
Download our full Training Brochure: HERE