While many people would be familiar with the concept of affiliates, many would not be familiar with the term broker. So what is a broker? A broker is someone who recruits affiliates, in particular superaffiliates for you.
What this means is that you can set up 2 levels of commissions:
- For your affiliates
- For your brokers
As an example, you might pay your affiliates 40% commission on all sales. You might also offer 10% of the total sales generated by affiliates to brokers who referred the affiliate.
The advantage of this is that it can help speed up your distribution process and therefore your sales.
Fortunately this can be set up in Nanacast quite easily.
If you have a Elite level membership, then the process and calculation of payments is automated. However, if you have a viral premium membership then the calculation of payments is manual. However, it is easy enough to pull up a broker report and see the total sales for the affiliates they referred and then calculate the payment.
The easy way to set this up a broker / JV partner program in Nanacast is to:
- Create a dummy product and point the dummy product to the affiliate program
- You then get the broker to join as a normal affiliate and apply to become a broker
- The broker is then attached to the dummy product you created in Nanacast
- The broker uses the link from the dummy product as the link to recruit affiliates and join the affiliate program
Once the affiliates make sales, you can then enter in the Brokers affiliate ID in the broker field in the sales report area to see how many sales from affiliates the broker has recruited has made.
We have added a new video for our Membership Tutor customers on how to do this.