One of the key success factors while building our first business – SpectroCoin, was its affiliate program. Thus, we have decided to continue building a community around our projects and issue Bankera affiliate tokens in 2017. As we are focused on blockchain-related businesses, we have chosen to issue our token as an Ethereum ERC-223.
How does affiliate marketing work?
Affiliate marketing is very popular among digital businesses, and a lot of e-commerce, iGaming, forex companies are basing their marketing strategy on it. The idea is that an affiliate who introduces new clients to the business can get a referral commission either based on transaction volume done by a newly introduced client or a fixed amount if the client meets certain conditions.
How does the tokenized affiliate program work?
Token holders must be motivated for the success of the project, as that is the only way how their token value can rise. Hence, they are motivated to use the products themselves, as well as spread the word about it to their friends and communities. That is the most effective marketing strategy, as it not only creates the initial user base, but also builds an army of promoters.
Instead of sharing an affiliate link, token holders are motivated to create a positive sentiment (“buzz”) around the brand or product so that more people become aware about it and start using it. Hence, the revenue and, as a result, the net transactional revenue increases to benefit all token holders.
What to do to increase token value?
To increase the token value, community should promote Bankera and its related products, such as SpectroCoin – the more people would use Bankera and SpectroCoin, the higher the net transactional revenue would be and more clients would want to buy Banker (BNK) tokens to pay for Bankera or SpectroCoin services.
You can recommend Bankera and SpectroCoin to your friends, share it on your social media accounts, and suggest it to people looking for services offered by Bankera’s ecosystem.
Additionally, you can leave positive feedback about Bankera and SpectroCoin wherever you can. This would make it easier for Bankera to attract new customers and turnover, as positive feedback by fellow clients is the best sign of a successful business.
You can also go an extra mile and create your own content such as blog posts, videos to introduce Bankera and SpectroCoin services to prospective clients, in this way growing Bankera’s user base and net transactional revenue.
Finally, use Bankera yourself. The more clients Bankera has, the more volume of transactions it processes, the easier it is to scale Bankera by finding new partners for additional payment options.